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Pratt Street Office & Parking Condo Opp. 300 W Pratt St 51,457 SF Office Condo Unit Online Auction Sale Baltimore, MD 21201
Investment Highlights
- 300 W Pratt Street, the Wilkens Building, offers 51,457 SF office condo, comprising floors two through five.
- Existing income stream from leased spaces opens up significant leasing potential and value-add initiatives to increase revenue.
- Walkable location near the Inner Harbor, Camden Yards, CFG Bank Arena, and the Baltimore Convention Center supports long-term tenant demand.
- Positioning within a current Opportunity Zone ,provides financial incentives for investors and developers.
- Rare parking inventory includes 23 owned spaces and rights to 13 leased spaces, a significant asset in Baltimore's urban core.
- Superior location boasting streamlined access to MARC, Amtrak, Interstate 83, Interstate 95, and BWI Airport, underscoring the robust asset value.
Executive Summary
Coldwell Banker Commercial Realty, in association with Ten-X, is pleased to present the sale of office and parking condominiums at 300 W Pratt Street, also known as the Wilkens Building. The sale does not include the first-floor retail. This is an exceptional opportunity to acquire the multi-tenant office component of the historic Wilkens Building (ground-floor retail not included), situated on a 0.56-acre lot in the heart of Downtown Baltimore. The condo occupies floors two through five, and some spaces are currently leased to a diverse mix of tenants. This provides existing income with significant lease-up potential, creating a compelling value-add investment. The sale also includes 23 owned parking spaces and rights to 13 leased spaces, an increasingly scarce amenity in Baltimore's urban core. Located steps from the Inner Harbor, Camden Yards, CFG Bank Arena, and the Baltimore Convention Center, the 300 W Pratt Street is an address with long-term value due to its visibility, walkability, and access to a dense concentration of businesses, hotels, restaurants, and major employers. Multiple transit lines, MARC and Amtrak service, Interstate 83, Interstate 95, and BWI Airport, then unlock outstanding metro connectivity. The investment is further strengthened by its current location within an Opportunity Zone, offering unique advantages for investors, businesses, and owner/users. Combined with substantial public and private investment transforming Downtown Baltimore and the Inner Harbor area, 300 W Pratt Street is well-positioned to capitalize on the city's continued growth and revitalization. Property tours are available by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Property Information
- Operating and Financial Statements
- Title and Insurance
- Purchase Agreement
- Register to Bid Instructions
1 Unit Available
- Unit
- Unit Size
- Condo Use
- NOI
| Sale Type | Investment | No. Parking Spaces | 23 |
| Sale Type | Investment |
| No. Parking Spaces | 23 |
| Unit | Unit Size | Condo Use | NOI |
| Unit Floors 2-5 | 51,457 SF | Office | - |
Unit Floors 2-5
| Unit Size |
| 51,457 SF |
| Condo Use |
| Office |
| NOI |
| - |
Unit Floors 2-5
| Unit Size | 51,457 SF |
| Condo Use | Office |
| NOI | - |
| Sale Type | Investment |
| No. Parking Spaces | 23 |
| Description | |
| Representative of the upper office component of 300 W Pratt Street, spanning 51,457 square feet across floors two through five. The offices are currently at approximately 43% occupancy. Dedicated parking spaces are also included. |
Property Facts
| Total Building Size | 61,456 SF | Year Built | 1870 |
| Property Type | Office (Condo) | Lot Size | 0.56 AC |
| Building Class | B | Parking Ratio | 0.2/1,000 SF |
| Floors | 5 | Opportunity Zone |
Yes
|
| Typical Floor Size | 12,141 SF | Type of Ownership | Fee Simple |
| Zoning | B-5-2, Baltimore - General business district that allows a wide range of commercial, retail, and service uses. | ||
| Total Building Size | 61,456 SF |
| Property Type | Office (Condo) |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 12,141 SF |
| Year Built | 1870 |
| Lot Size | 0.56 AC |
| Parking Ratio | 0.2/1,000 SF |
| Opportunity Zone |
Yes |
| Type of Ownership | Fee Simple |
| Zoning | B-5-2, Baltimore - General business district that allows a wide range of commercial, retail, and service uses. |
Amenities
- Commuter Rail
- Courtyard
- Food Service
- Property Manager on Site
- Restaurant
- Signage
- Natural Light
About CBD Baltimore
Downtown Baltimore is the epicenter of the greater Baltimore metropolitan area’s office market. Home to some of the area’s most high-profile companies, stretches of real estate, and unbeatable waterfront views, many office tenants have called the Central Business District home for decades.
The CBD offers businesses several geographic advantages. Its accessibility to major thoroughfares including I-83, I-95, I-295, and I-395 provides many points of ingress and egress to other parts of the metro, including convenient access points for commutes to the nearby Baltimore-Washington International Thurgood Marshall Airport, or adjoining metropolitan areas of Washington D.C. or Philadelphia.
Baltimore’s core boasts some of the highest-quality office space in the metro. Anchored by the Pratt Street corridor, its concentration of Class A office space more than doubles that of the next closest concentration in Baltimore. In turn, some of Downtown's largest tenants include notable law firms such as Venable, Miles & Stockbridge, and Baker Donelson. It is also home to long-time mainstays of Baltimore Gas and Electric and M&T Bank.
A notable redevelopment is on the horizon, as locally based MCB Real Estate is planning to renovate Harborplace, a 165,000-square-foot retail center along the Inner Harbor. The renovation is slated to restore the glory that once was Harborplace, and in turn, provide additional retail destinations for the CBD’s ample workforce.
Within the capital markets, office sales activity in Baltimore's core has been driven by conversions in recent years. The CBD has more than 1,000 multifamily units underway, and the overwhelming majority of those units are slated to come to market by way of conversions from office and hospitality properties to multifamily assets.
Demographics
Demographics
Sale Advisors
Sale Advisors
Roman Tsimberg, Director Commercial Real Estate Sales
Alex Chan, Retail Leasing Agent
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Pratt Street Office & Parking Condo Opp. | 300 W Pratt St
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Pratt Street Office & Parking Condo Opp. | 300 W Pratt St
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