5447 PARK HEIGHTS AVE, Baltimore, MD 21215 - MLS#MDBA2114854

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Adam Ferst

[email protected] +1(202) 421-5500

$999,000

Est. payment - /mo

12,354 SqFt

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UPDATED:

09/26/2024 01:26 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 12,354 sqft

Price per Sqft $80

MLS Listing ID MDBA2114854

Originating Board BRIGHT

Year Built 1926

Annual Tax Amount $6,266

Tax Year 2024

Lot Size 10,454 Sqft

Acres 0.24

Property Description

Must Sell! Appraised at $1.2M - $150,000 Discount! $126,000 Gross Income generating a 7.49% Cap Rate. Three Parcel C-2 Commercial, all-brick 12,354 sq. ft. building sitting on a 0.23-acre corner lot. Five Commercial/Retail tenants on the ground floor with additional residential units on the second floor. Retail Tenants include: Tax Preparation Service, Hair Salon, Driving School, Paparazzi African Grill & a Shipping Company. Residential Units: 5447 Park Heights has three 2BD 2BA apartments, 5451 Park Heights has a studio apartment and 3 rooming units, and 5455 Park Heights also has a studio apartment and 3 rooming units. Commercial units are impressive with 110 ft deep lots, a front 10-car parking lot for customers, and rear garage entrances for the commercial tenants. The seller has invested $100,000 into improvements but a large value-add opportunity exists to increase rent, equity, and cash flow! With proper improvements, management, and tenant makeup, the rent roll could be significantly increased very quickly. C2 Zoning would allow reconfiguration of rooming units into standard apartments if desired. Located in a prime corner location in fast-developing Park Heights. The attractive mix of neighborhood retail in a dense and high-traffic area and affordable residences make this property nearly recession-proof and a solid income earner for your portfolio. Don’t miss out. Contact us for more info today!

Location

State MD

County Baltimore City

Zoning C-2

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling None

Heat Source Natural Gas

Exterior

Garage Spaces 10.0

Waterfront N

Water Access N

Accessibility 2+ Access Exits

Total Parking Spaces 10

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Baltimore City Public Schools

Others

Tax ID 0327194528 019

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Conventional

Listing Terms Conventional

Financing Conventional

Special Listing Condition Standard

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Listed by Dimitrios Lynch • ExecuHome Realty

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Adam Ferst

+1(202) 421-5500

Agent | RSRS325119

Agent RSRS325119

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