Baltimore Flex for Sale - Baltimore Midtown
THE LOFTS AT THE ANNEX
Building & Grounds Highlights:
• Size & Scale: A expansive 48,000 +/- square foot building spread across 5 levels, including a lower level and outbuilding.
• Zoning: Situated on 0.36 acres of IMU-1 zoned land with a special PUD (Planned Unit Development) designation.
• Parking & Access: Features a gated storage yard, indoor garage, and abundant street parking. The property includes multiple loading docks and bays, along with multiple building entrances.
• Infrastructure: Concrete, steel, and masonry construction ensure durability. The building is equipped with a full wet sprinkler system, fire escapes, alarm pulls, and 3-phase electric service.
• Unit Mix: The current configuration supports a mix of multifamily and commercial uses, offering flexibility for a variety of investment strategies.
• Elevators: Includes a freight elevator and a potential shaft for the addition of a passenger elevator.
Exceptional Location:
• Prime Neighborhood: Located in the heart of the Greenmount West Planned Urban Development and the vibrant Station North Arts & Entertainment District.
• Unmatched Connectivity: Just a short distance from Penn Station, which serves over 3 million commuters annually. The building has a "Walker's Paradise" Walk Score of 90%+.
• Proximity to Amenities: Surrounded by major employment centers, educational institutions, entertainment venues, and shopping districts.
• Strategic Investment: The area has seen billions invested in local infrastructure and development, including a $150M renovation to Penn Station, which will also feature new residences and retail.
• Incentives: The property is located in a local Opportunity Zone and offers potential for Historic and Energy Incentives.
• Market Demand: Capitalize on the low inventory of available rental housing and retail space in the area.
• Easy Transportation: Quick access to I-83, Downtown, Mount Vernon, and Charles Village.
• Scenic Views: The property overlooks the Baltimore skyline and the historic Greenmount Cemetery.
Property Details:
• Year Built: Circa 1920, with several renovations over the years.
• Architectural Style: A stunning example of Victorian Industrial architecture.
• Construction: The exterior is brick, block, steel, granite, and glass, with an interior of block, concrete, steel, and wood. Floors are solid concrete.
• Unit Breakdown: The building is divided into two wings, with a central staircase and freight elevator. It comprises eight expansive industrial units, each approximately 5,000 sq ft. Previous uses included 6 residential artist lofts, a ground-floor parking garage, and a 5,000 sq ft artist collaboration suite.
• Natural Light: Large windows throughout the building provide abundant natural light and a unique, open feel.
• Ceiling Height: Soaring ceilings range from 10’ to 15’ in height.
• Zoning Details: The IMU-1 zoning allows for a wide range of uses, including multifamily, retail, office, industrial, and specialty uses. The PUD designation adds further flexibility for M-1, B-1, B-2, and O-R uses.
• Parking: A total of 45 +/- spaces are available, including 15 +/- in the garage, 10 +/- in the gated yard, and 20 +/- on the public street.
• Taxes: Property taxes for 2023 were $11,994.
• Utilities & Safety: Equipped with public water, sewer, gas, electric, and internet services. A full wet sprinkler system, alarms, and fire escapes ensure comprehensive fire safety. The building offers 24-hour access.
LEARN MORE ABOUT THE NEIGHBORHOOD
Investing in Baltimore’s Station North Arts and Entertainment District is a strategic decision that aligns with both cultural enrichment and smart urban development. This neighborhood is a shining example of visionary urban planning, making it an attractive proposition for investors and anyone interested in infrastructure growth.
A Thriving Cultural Hub and Urban Renaissance
• Cultural Capital: Station North is a cultural epicenter, boasting a diverse array of theaters, galleries, performance spaces, and artistic institutions. This concentration of cultural assets contributes to the city’s identity and draws a constant stream of visitors, fostering a thriving economic ecosystem.
• Infrastructure Renaissance: Recent infrastructure enhancements have transformed the district into a model of modern urban living. Upgraded streets, walkways, and public spaces create an inviting environment that encourages pedestrian activity and social engagement.
• Transportation Hub: Station North’s strategic location offers easy access to Baltimore’s robust public transportation network. Proximity to transit options facilitates seamless connectivity to surrounding neighborhoods and the broader city, adding to the neighborhood’s allure for both residents and visitors.
• Mixed-Use Developments: The area's forward-thinking urban planning has led to mixed-use developments that seamlessly blend commercial, residential, and cultural spaces. This harmonious integration not only enriches the neighborhood's appeal but also creates investment opportunities across various sectors.
• Historic Character Meets Modern Amenities: The district’s historic charm is preserved while being complemented by modern amenities. This unique juxtaposition creates a distinctive atmosphere that appeals to both the nostalgia of the past and the aspirations of the future.
• Educational Institutions: The presence of esteemed educational institutions within or near the district, such as universities and colleges, contributes to a steady flow of young talent and a knowledge-driven economy, further boosting the area’s potential for growth.
• Revitalization Success: The district’s revitalization efforts have garnered recognition and accolades, signifying its transformation and foreshadowing its continued trajectory of improvement and development.
• Entrepreneurial Spirit: The creative energy permeating the Station North Arts and Entertainment District fosters an environment conducive to innovation and entrepreneurship. As a result, the area is a magnet for startups, artists, and makers seeking to thrive within a collaborative ecosystem.
• Resilience and Sustainability: The district's emphasis on sustainable practices and community resilience serves as a model for responsible urban development. These initiatives not only contribute to the neighborhood's long-term sustainability but also align with broader global trends.
• Investment Returns: As the Station North Arts and Entertainment District continues to evolve and flourish, the investments made today are poised for significant returns. The district's unique combination of cultural significance, modern infrastructure, and strategic positioning ensures its enduring appeal to residents, businesses, and visitors.
