Listing Summary

Value Add Opportunity for an owner-user or investor. The 3-story structure was built in 1920.

Full Description

Prime Opportunity Zone Investment: 4,453 SF Mixed-Use Retail & Office Building in Perkins Somerset Oldtown

The Opportunity: A Strategic Value-Add Project

Presenting a premier investment opportunity located in the heart of a rapidly revitalizing corridor. This historic three-story structure, originally constructed in 1920, offers a unique "buy and build" scenario for an owner-user looking to establish a headquarters or a savvy investor seeking to capitalize on a high-growth district.

Situated within the Perkins Somerset Oldtown (PSO) Transformation District, this property is perfectly positioned to benefit from significant local redevelopment. Furthermore, its location within both an Opportunity Zone and an Enterprise Zone provides potential buyers with substantial tax incentives and economic advantages that are rarely found in a single asset.

Property Layout & Income Potential

This 4,453-square-foot building offers a balanced mix of immediate rental income and future development potential. The layout is intelligently distributed across three levels on a 1,725-square-foot lot.

• First & Second Floors (Occupied): Currently leased to an established adult medical daycare company. These two floors (measuring 1,725 SF each) provide a steady income stream, offering immediate stability for the new owner while the upper portion of the building is developed.

• The Third Floor & Beyond (Value-Add): The upper levels have been professionally gutted and are currently in shell condition. This blank canvas is ready for immediate interior construction, allowing you to design a modern office suite, luxury apartments, or expanded retail space tailored to your specific requirements.

Structural Integrity & Modern Upgrades

While the building maintains its classic 1920s character, the critical "heavy lifting" of maintenance has already been addressed:

• Masonry: The building’s signature brick exterior has been meticulously re-pointed, ensuring long-term structural durability and aesthetic appeal.

• Roofing: The roof is in good condition, providing a secure, weather-tight envelope for the interior renovations.

• Turn-Key Buildout Option: To further simplify the transition, the Seller is willing to serve as the general contractor for the new owner, offering to complete the interior buildout to your exact specifications.

Zoning & Strategic Location

The property holds a flexible C-2 (Community Commercial) zoning designation. This versatile zoning allows for a wide variety of high-demand uses, including:

• Retail Storefronts

• Professional Executive Offices

• Residential Multi-family units

Being located in a Transformation District means this property is at the epicenter of urban renewal, making it an ideal candidate for long-term capital appreciation.

Investment Highlights

• Versatile Asset: Ideal for an owner-user looking to occupy the upper floors while collecting rent from the lower levels.

• Significant Tax Benefits: Located in an Opportunity Zone and Enterprise Zone for maximum ROI.

• Prime Footprint: 4,453 SF of total space with a footprint of 1,725 SF per floor.

• Ready for Customization: Upper floors are gutted and ready for your specific interior design and branding.

• Affordability: A rare chance to acquire a substantial brick building at a competitive price point in a developing market.

Property Specifications

Complete Details

Listing Location