5447 PARK HEIGHTS AVE Active Save Request In-Person Tour Request Virtual Tour
Baltimore,MD 21215
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
Year Built 1926
Annual Tax Amount $6,266
Tax Year 2024
Lot Size 10,454 Sqft
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
Exterior
Garage Spaces 10.0
Water Access N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard