Published on: Tuesday, August 13, 2024
Updated on: Tuesday, August 13, 2024
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About the Lister
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Name: Leo McDermott
Company: Trout Daniel & Associates
Office Phone: 202-744-6910
Cell Phone: 202-744-6910
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581 Old Town Mall Baltimore Maryland , 21202
581 Old Town Mall Baltimore Maryland                                                                                            , 21202Trout Daniel & Associates
Listing ID: CL-Maryland-11284

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): Contact Lister
Net Operating Income: Contact Lister
Commission Split (%): 0
Quick Glance
Listing ID: CL-Maryland-11284
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: N/A
Year Build: N/A
Building Size: N/A SqFt
Lot Size: N/A
No of Stories: N/A
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Listing Summary
Value Add Opportunity for an owner-user or investor. The 3-story structure was built in 1920. First floor, second generation restaurant space is available for lease. The second and third floor will require renovation.
Complete Details
Year Build: N/A
Building Size: N/A
No of Stories: N/A
Total Lot Area: N/A Not Specified
No of Parking: N/A
No of Total Units: N/A
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: C
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 0%
Full Description
Property Description: Value Add Opportunity for an owner-user or investor. The 3-story structure was built in 1920. First floor, second generation restaurant space is available for lease. The second and third floor will require renovation. The building’s brick exterior has been re-pointed and the roof is in good shape. Seller is willing to complete the interior buildout as a contractor for the new owner. This is a chance to purchase your own building at an affordable price and complete the interior design based on your business needs. Location Description: Located in the Perkins Somerset Oldtown Transformation District, a $1.1 billion redevelopment plan to convert over 244 urban acres into a modern community with 1,360 units of mixed-income housing, retail, large parks, public amenities, and new school. The U.S. Department of Housing and Urban Development's $30 million Choice Neighborhoods Initiative (CNI) grant was awarded in 2018. The massive redo is also supported by a $105 million tax increment financing package, approved in 2020. The massive project is being spearheaded by several developers and public agencies including Henson Development Co., Beatty Development, Cross Street Partners, McCormack Baron Salazar and the Housing Authority of Baltimore City.
Additional Properties
Property Highlights
  • Value-Add Investment Opportunity For Owner-User or Investor
  • Located in an Opportunity Zone & Enterprise Zone
  • Located in the Perkins Somerset Oldtown Transformation District
  • Retail Building In Shell Condition – Ready for Interior Buildout
  • Total Building Size is 1,908 sf (1st & 2nd Floors are 828 sf)
  • Zoned C-2, allows retail, residential and office uses
Listing Location
Attached Documents
  • Download | 581 Old Town Mall - Sale Brochure.pdf ( 2,014.50KB)
  • Download | Old-Town-Mall-Property-Links.pdf ( 4,692.10KB)
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Modified On: 9/30/2024
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Address: 404 E Baltimore St. , Baltimore Maryland 21202
Listing ID: CL-Maryland-11283
Listing Type: Commercial
Category: Retail - Mixed Use
Status: Active
Created On: 8/13/2024
Modified On: 8/13/2024
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