403 W Franklin St
Baltimore, MD 21201
Multifamily Property For Sale · 96 Units

• Building Permit for 96 Apartment Units
• 10-year CHAP property tax abatement
• Eligible for Federal Historic Tax Credits
A rare, fully entitled multifamily redevelopment opportunity in the heart of Downtown Baltimore. Located on the corner of W. Franklin Street and Eutaw Street with an approximate Walk Score of 99, the property sits within the historic Market Center district and offers immediate access to major employment centers, transit, and downtown amenities.
The offering consists of the historic J. Henry Miller Building, a six-story concrete structure totaling approximately 71,000 square feet plus a finished basement on a 0.24-acre site. The building has received approvals for conversion into 96 multifamily apartment units, with Baltimore City building permits valid through January 30, 2028. The sale includes the full architectural, MEP, and construction permit set, representing approximately $500,000 in completed predevelopment value.
Building Permit
The approved development plan features 34 studio units, 10 one-bedroom units, and 52 two-bedroom units, along with attractive resident amenities including a fitness center, game room, bowling alley, bar/lounge, co-working spaces, package room, and bike storage.
The project benefits from significant financial incentives, including National Park Service Part I & II historic approvals, enabling Federal Historic Tax Credits estimated at approximately $2.55 million, along with a 10-year CHAP property tax abatement.
Additional Documents are located in the Documents section of this website.
With entitlements secured, historic tax credit approvals in place, and substantial predevelopment work completed, 403 W. Franklin Street offers investors a turnkey adaptive reuse opportunity in one of Baltimore’s most walkable downtown locations.
Zoning
The property is located in a C-5-DC zone.
As described from the Baltimore City Zoning Code:
C-5-DC Downtown Core Subdistrict.
(i) The purpose of the C-5-DC Downtown Core Subdistrict is to establish these standards for structures located within the majority of Downtown.
(ii) The standards recognize that this subdistrict is to be the most intensely developed portion of Downtown and is to be predominately pedestrian-oriented in nature.
Diligence Package: Copy of the purchase and sale agreement & assorted addenda, permits and plans are located in the documents section. In order to gain access, you must create a free account as well as accept a non-disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Friday, April 10th & ends Wednesday, April 15, 2026 at 11:00 am.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.