Homes for sale - 419-433 EAST OLIVER, Baltimore, MD 21202

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Kerry O'Hara

[email protected] +1(410) 507-0834

$ 2,499,000

Est. payment -/mo

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419-433 EAST OLIVER Baltimore, MD 21202

40,144 SqFt

UPDATED:

12/10/2024 12:52 PM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 40,144 sqft

Price per Sqft $62

MLS Listing ID MDBA2144130

Originating Board BRIGHT

Year Built 1940

Annual Tax Amount $18,735

Tax Year 2024

Lot Size 0.359 Acres

Acres 0.36

Property Description

Rarely available square footage in Baltimore's Station North Art's and Entertainment District. This approx 48,000 gross sf building has exceptionally versatile mixed use IMU-1 zoning and is located in the 2003 Greenmount West Planned Urban Development (PUD). Allowable uses are extensive and range from multi-family, industrial, office, and retail to specialty uses like medical, laboratory, institutional, education, and urban agriculture to name a few. The building consists of 5 stories, including a small basement. The building is served by a center stairwell and freight elevator serving each unit. Additional shaft(s) exist for the potential of lifts. Each floor consists of two 5,000 SF +/- units for a total of 8 units. Additional unit(s) could possibly be added to the lower level. The last use of the building was 6 Multi-Family Live-Work Artist Lofts and collaborative space, 1 large common collaboration unit on the first floor, and 1 first floor unit serving as a parking garage. The property also has a gated storage yard, 2 drive in bays, and 1 loading dock. The building has solid constriction consisting of steel, concrete, brick, and block. window openings, while currently covered by pebble board, are expansive offering a flood of natural light into the building on all sides, and are large enough for the hoisting of furniture and goods. This offering is a short walk from Penn Station, bringing approx 3M commuters per year through the neighborhood and a migration of DC Metro Area workers taking advantage of capital beltway wages and affordable Baltimore living through MARC Train commuting. This creates opportunity to answer the current housing shortage in a value-add property in a neighborhood on the up-swing that is heavy on tax, employment, and financial incentives. Anywhere from 30-50 residential units or more could be possible depending on the unit mix and bedroom count. For the investor looking for a buy-and-hold with minimal relative capital improvements needed: eight 5K sf self-contained units could offer an answer to the neighborhood's shortage of available industrial and retail space for small users, and still create a lucrative gross yearly income. Showings require proof of wherewithal. Non-public information requires NDA. All tours must be accompanied by the Listing agent.

Location

State MD

County Baltimore City

Zoning IMU1

Interior

Hot Water Electric

Heating Forced Air

Cooling None

Heat Source Electric, Natural Gas

Exterior

Garage Spaces 10.0

Water Access N

View City

Accessibility Other

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 NO TAX RECORD

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

Listed by Jason S Lusby • Keller Williams Gateway LLC

Kerry O'Hara

Advisor | License ID: 651712

+1(410) 507-0834

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