1700 Union Avenue 2 Properties Offered at $10,464,000 CAD in Baltimore, MD

1700 Union Avenue is a mixed-use property in the Hampden/Woodberry/Meadow Mill submarket of Baltimore City, consisting of approximately 28,314 square feet of leasable space. The property is situated on approximately 1.609 acres. Both buildings are 100% leased. Building #1 is one story with approximately 25,490 square feet. Building #2 totals approximately 2,824 square feet and is two stories. There is a full basement, which is being used for storage. Building #1 has four Tenants and building #2 has four Tenants. The property represents a fantastic investment for a user or for an investor looking to add value with the recent upgraded zoning classification to TOD-2 (transit-oriented development). The property has a fantastic transportation location given the facts that it sits between Coldspring Lane and Falls Road on I-83 AND is across the street from a light rail station. The property will cash flow right away and has the potential for increased density in a future redevelopment.
The building has remained 100% leased since 2005 when it changed hands from a longtime user to a real estate developer. Substantial improvements were made to the property to convert it from single use to multi-tenant use. Ownership continues to invest heavily in the project and in tenant improvements.
Purchase Price is $7,500,000.