Listing Summary

Value Add Opportunity for an Owner-user or Investor. The 2-story Structure Has Been Fully Restored Featuring a New Roof, New Shoring, and Re-pointed Brick Exterior.

Full Description

Prime 6,794 SF Opportunity Zone Investment: Renovated Retail & Office Shell in Perkins Somerset Oldtown

The Opportunity: A High-Yield Strategic Value-Add Project

Presenting a premier real estate asset perfectly positioned for an owner-user or a visionary investor. This expansive 6,794-square-foot, two-story structure offers a rare "blank canvas" opportunity in one of the city's most rapidly appreciating corridors. Originally constructed in 1920, the building has been structurally preserved and is now ready for a custom interior transformation that aligns with your specific business goals or portfolio requirements.

Situated within the Perkins Somerset Oldtown (PSO) Transformation District, this property is at the epicenter of a massive urban renewal initiative. Investors can leverage significant financial advantages, as the building is located within both a federal Opportunity Zone and a local Enterprise Zone, providing a pathway for substantial tax credits, capital gains deferrals, and long-term economic incentives.

Structural Excellence & Modern Preparedness

While many historic buildings require a risky "guessing game" regarding structural integrity, this property has already undergone extensive professional restoration to ensure a solid foundation for your buildout:

• Restored Exterior: The building’s signature 1920s brick façade has been meticulously re-pointed, restoring its historic charm while ensuring modern durability.

• Critical Structural Upgrades: The property features new shoring and a brand-new roof, providing a secure, weather-tight envelope that is ready for the next phase of construction.

• Shell Condition Readiness: The interior has been cleared and is now prepared for the installation of new subflooring, as well as modern Mechanical, Electrical, and Plumbing (MEP) systems.

• Seller-Contractor Synergy: To simplify the development process, the seller is a licensed contractor willing to complete the full interior buildout for the new owner. This allows you to purchase the asset at an affordable entry price and customize the floor plan exactly to your needs.

Versatile Layout & Flexible Zoning

With a total footprint of 6,794 square feet, the building offers a generous 3,578-square-foot first floor, making it ideal for high-traffic retail, a flagship restaurant, or an expansive corporate lobby. The flexible C-2 (Community Commercial) zoning designation allows for a wide variety of high-demand uses, including:

• Executive & Professional Offices

• Boutique Retail & Commercial Storefronts

• Residential Multi-Family or Mixed-Use Conversions

Investment Highlights

• Strategic Growth Location: Located in the heart of the Perkins Somerset Oldtown Transformation District, benefiting from billions in nearby public and private investment.

• Unrivaled Tax Incentives: Fully eligible for Opportunity Zone and Enterprise Zone benefits to maximize your after-tax ROI.

• Substantial Footprint: Over 6,700 SF of usable space across two floors on a 0.080-acre lot.

• Design-to-Suit Potential: The shell condition allows you to bypass the demolition phase and go straight to designing a space that reflects your brand’s identity.

• Affordable Entry Point: Secure a large-scale standalone building at a competitive price before the district's transformation is fully realized.

Property Specifications

This is more than a building; it is a foundation for your future business or investment success. Don't miss the chance to own a piece of the city's history while reaping the rewards of its future. Contact us today to discuss how we can help you complete this custom buildout.

Complete Details

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