MD > Baltimore
Baltimore, MD 21202,419 E OLIVER ST
Baltimore, MD 21202,419 E OLIVER ST
Baltimore, MD 21202,419 E OLIVER ST
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Simone Velvel

Simone Velvel

+1(703) 507-7614
$2,800,000
Est. payment /mo
48,000 SqFt
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UPDATED:

10/21/2024 05:40 PM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 48,000 sqft

Price per Sqft $58

MLS Listing ID MDBA2097618

Originating Board BRIGHT

Year Built 1920

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 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 4 stories. The building is served by a center stairwell and freight elevator serving each unit. 2 Additional shafts 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 and additional non-public information require proof of wherewithal, Non Disclosure Agreement, and Site Access Waiver. All tours must be accompanied by the Lister.

Location

State MD

County Baltimore City

Zoning IMU-1

Interior

Hot Water Electric, Natural Gas

Heating Forced Air, Other

Cooling Other

Heat Source Natural Gas

Exterior

Garage Spaces 15.0

Water Access N

Accessibility Elevator, 2+ Access Exits

Total Parking Spaces 15

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Baltimore City Public Schools

Others

Tax ID 0312101128 048

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, Bank Portfolio

Listing Terms Cash, Conventional, Bank Portfolio

Financing Cash,Conventional,Bank Portfolio

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Jason S Lusby • Keller Williams Gateway LLC
agent-avatar

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland, 20895, USA

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