Oppor nit is Knocking in Historic Mt. Ver on

Transcription

1 Oppor nit is Knocking in Historic Mt. Ver on Offering Memorandum North Howard Street Bal more, Maryland Clifton Bond Presented By (443) (m) (410) (d)

2 Rare oppor nit to purchase three adjacent proper ies in Baltimore s Mt. Ver on Historic Dist$ict. Long-considered the center of the cult ral scene in Baltimore, Mt. Ver on is home to some of the most interesting architect re in the cit and an incredible list of instit tions & destinations including: Baltimore School for First Monument to George Enoch Pra4 Librar Washing on Eubie Blake Center Walters Ar Museum Mar land Instit te College Contemporar Museum MD Historical Societ of Ar Engineer s Club Peabody Conser2ator Universit of Baltimore Ly$ic Theat$e Basilica of the Assumption Myerhoff Sy9phony Hall Center Stage Antique Row Universit of Mar land the Ar s

3 These three available proper ies are located on the wester edge of the Mt. Ver on Historic Dist$ict on the Antique Row section of Howard St$eet, an area that has clearly been ex>eriencing a renaissance, re-establishing its rightf l place as an impor ant component of one of Baltimore s most beautif l neighborhoods. These parcels are an eclectic mix of over 11,000 s.f. of retail and several revenuegenerating apar 9ents. With B5-1 commercial zoning on all three parcels, vir ally any t >e of business is per9i4ed, so this is an oppor nit that is only limited by your vision. There is also an oppor nit to purchase a four h parcel, which is an adjacent 170 x 20 paved drive through that connects Howard and Tyson St$eets and is perfect for a driveup window facilit in the 809 parcel or parking for 10+ vehicles.

4 Opportunity is Knocking in Mt. Vernon Rare opportunity to purchase multiple adjacent commercial parcels in Mt. Vernon for redevelopment or investment. Approximately 8,500 sf of retail and four existing apartments with separate entrances and metering. Offered at $1,250,000 Owner Lease-Back Desired! Three separate parcels; owner may divide but prefers a package sale. 813 N. Howard, a paved 170 x 20 drive-thru accommodating 10+ cars, available with purchase of entire package. Price negotiable. B5 commercial zoning permits almost any use! By Appointment Only Clifton Bond (443) (m) (410) (d) (410) (o)

5 Page N. Howard Street General This 3 story (+ basement) building is listed by Baltimore City as having been built in The upper two floors are rented as separately metered (both gas and electric) 1 bedroom apartments (one per floor) while the main level and partially finished basement are used as showroom retail spaces. Electrical The property is served by a 120 volt 3-phase service through what appears to be a 500 amp feed. This service is distributed by BGE through 3 separate meters. One service is dedicated to the main level and basement and the other two serve the upper level apartments. In general, the wiring throughout the property appears newer and updated. Cooling First floor cooling is achieved by a through-wall unit of unknown age and tonnage. Apartment tenants provide their own window units. Heating Main level and basement heating is provided by a separately-metered natural gas fired furnace / blower. The 2 nd and 3 rd floors are each served by their own separately metered gas-fired furnaces / blower units. While the third floor unit is believed to be less than 2 years old, the main and second level units are believed to be older and date to approximately 1990 (based upon the serial numbers). The capacity of these units is unknown.

6 Page N. Howard Street Plumbing Plumbing is distributed throughout all levels of the property. The main level s hot water heater was removed and not replaced. The two upper level apartments each have their own gas fired hot water heaters that are attached to their own separate gas service. The age of these apartment units is not currently known although the 3 rd floor unit is thought to be newer. Roofing The roof is a modified rubber bitumen system (appears to be torch-welded) and is approximately one year old. Price: $250,000 Square Footage: 3,060 Zoning: B-5-1 Block/Lot: Rental Income 1(apartment): $1,100 / m Rental Income 2 (apartment): $100 / mo. * Rental Income 3 (imputed retail): $700 / mo. ** * Below-market. Actual market ~ $650 / mo. ** Owner-occupied; imputed rent

7 Page N. Howard Street Interior Retail Level Interior Retail Level

8 Page N. Howard Street Apartment Interiors

9 Page N. Howard Street Apartment Interiors

10 Page N. Howard Street Apartment Interiors

11 Page N. Howard Street New Roof System Triple Gas Service

12 Page N. Howard Street

13 Page N. Howard Street General This 3 story (+ basement) building is listed by Baltimore City as having been built in The upper two floors are rented as apartments that are separately metered except for heat. The 2 nd level is a 2 bedroom unit while the third level is a one bedroom unit. The main level is used as showroom retail space and the basement is an unfinished utility area. Electrical The property is served by a 120 volt 3-phase service through what appears to be a 500 amp feed. This service is distributed by BGE through 3 separate meters. One service is dedicated to the main level and basement and the other two serve the upper level apartments. The wiring throughout the property is a mix of older and newer circuits. No knob & tube circuits were observed, but could exist. Cooling First floor cooling is achieved by a through-wall unit of unknown age. Apartment tenants provide their own window units. Heating This property is served by a single steam radiator system. The oil fired boiler is located in the basement, as is the fuel tank. The age of this system is unknown. While it seems to function as designed, it is clear that the boiler is very old.

14 Page N. Howard Street Plumbing Plumbing is distributed throughout all levels of the property. The main level s hot water heater is gas fired and appears to be a 40 gallon unit from The two upper level apartments each have electric hot water heaters. At the time of this writing, the age of these units could not be determined but they are believed to be newer. Roofing The roof is a modified rubber bitumen system (appears to be torch-welded) and is approximately one year old. Price: $275,000 Square Footage: 3,360 Zoning: B-5-1 Block / Lot: Rental Income 1: $800 / mo. Rental Income 2: $1,100 / mo. Rental Income 3: $800 / mo.* * Owner-occupied; imputed rent.

15 Page N. Howard Street Apartment Interiors

16 Page N. Howard Street Apartment Interiors

17 Page N. Howard Street New Roof System

18 Page N. Howard Street Electric Service Separate Meters Gas Service Main Level Hot Water Only

19 Page N. Howard Street EXTERIOR

20 Page N. Howard Street General This 2 story (+ basement) building and adjacent paved parking / drive through area is listed by Baltimore City as having been built in 1900 but the current structure was clearly constructed sometime in the 1950s as a bank building with a drive through. The entire building (except half of the basement level and other utility areas) is currently used as a retail showroom space. Electrical The property is served by a 120 volt 3-phase service through what appears to be a 500 amp feed. This service is distributed by a single BGE meter. The wiring throughout the property is of a 1950s vintage and in good condition. Cooling Cooling is provided by a central cooling-only AHU/coil unit which resides on the second floor. The compressors serving this unit are located on the roof. The age of the AHU cannot be determined, although it is clearly older. The rooftop compressor unit is also of an unknown age but appears to be somewhat newer than the AHU. Heating This property is served by a two-zone, gas-fired hot water boiler. The age of this unit cannot be determined but it appears to be in good condition. This two-circuit (two zone) distribution system features a three-pump circulator rack providing standby capabilities.

21 Page N. Howard Street Plumbing Plumbing is distributed throughout all levels of the property although the hot water heater was removed and not replaced. Roofing The roof has been partially (approximately 45%) replaced with a modified rubber bitumen system (appears to be torch-welded) that is approximately one year old. The balance of this roof is an older built-up system of unknown age. Price: $725,000 Square Footage: 5,544 / 3,334 Zoning: B-5-1 / B-5-1 Lot/Block: / Rental Income 1: Variable* * Property operates as an antiques mall with monthly parking accounts. Rental income is variable.

22 Page N. Howard Street General Interior Views

23 Page N. Howard Street Partial New Roof

24 Page N. Howard Street Hot Water Boiler & Circulator Pump Rack with Standby

25 Page N. Howard Street