123-129 N Clinton St Baltimore MD 21224
$700,000
List Price
6,500
2nd Floor SF
13,000
Total Building SF
91,245
Traffic Counts
Current Property Use
  • An owner-user could maintain the current retail use and benefit from the large 13,000 SF space to run a restaurant, event venue, grocery store or convenience store. The 2nd floor could be used as an office space, apartment unit, or additional retail space. The property also includes a beautiful outdoor space on the rooftop. The Patterson Park submarket benefits from high traffic volume and consumer spending in Food & Alcohol of over $325MM within a 2-mile radius. This makes Food & Alcohol the #1 category for consumer spending in 2021. By 2026, Costar reports estimates consumer spending to still be lead by Food & Alcohol and to increase by 8%.
Zoning
  • 123-129 N Clinton St has a current land use zoning R-8, for traditional form urban row houses and other similar density residential dwellings. The buyer could redevelopment the property into a multifamily asset, and benefit from the submarket's average rents of $1,650/mo. That's a potential annual revenue of $237,600 (assuming the property is redeveloped into 12 units).
Unique Property Features
  • In addition to the two-story 13,000 SF building space, the property has beautiful views of the Patterson Park neighborhood from the gorgeous roof top deck area. This roof top space was renovated in 2020, and adds a secure additional outdoor entertainment space, which is unique to the area.
Current Occupancy & FF&E
  • The property will be sold vacant and ready for immediate use. There's no liquor license and only some FF&E will convey with the sale.
2021 Property Taxes | Insurance
  • Taxes: State $361.09 and City $7,247.55. Total Taxes: $7,608.64. Insurance: Premiums are roughly $7,000/annually.
Highly Desirable Area
  • 123-129 N Clinton St is located in the beautiful Patterson Park submarket and is positioned in the path of growth within the Southeast Baltimore market. The Patterson Park submarket has benefited from an influx of capital from both private investment and investment from the city. As well as, rising property values,  new employers, updated city services, and renovated housing, the growth within this submarket continues to invite investment and create consumer demand.
Economic Drivers
  • New development activity continues to fuel the Patterson Park and Highlandtown neighborhoods with projects such as: The renovation of Patterson Park Superintendent House & Add Community Programming space: A transformation of the Friends’ headquarters, the new 65-unit apartment complex, Highland Haus Apartments (3232 Eastern Ave), and HOHM Lofts, the new mixed-use development (3825 Bank St).
Premier Location
  • 123-129 N Clinton St sits in prime location, only minutes from Baltimore Highlands, Brewers Hill, Bayview, Canton, Greektown and Johns Hopkins Bayview Medical Center. The property is also less than 30 minutes from BWI Airport, 15 minutes from Charles Center and 15 minutes from Penn Station.
Key Attractions
  • Within the Patterson Park submarket there are several well-known attractions including 155-acre park, the Hippodrome which is a world-renowned performing arts theater, Patterson Theater and more!
FOR MORE DETAILS CONTACT
Whitney Ward
Principal
(678) 439-1423
whitney@intuitivemp.com
Lic: MD 5003491 | GA 372968