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Description

Hampden is one of Baltimore’s Hottest Neighborhoods.  The streets are usually crowded with shoppers, restaurant patrons, and those meeting with friends at the local watering holes.  Hampden Merchants Association Video

911 West 36th Street, originally a movie theater built in 1925, has been converted into commercial building with 4 tenants:

  • Le Garage is a restaurant and bar the features an eclectic list of 14 draft beers and signature Belgian Frites with 10 delectable sauces, and an approachable  French menu.  Le Garage has a 4-star Yelp rating.
  • Yoga Tree / One Wellness – Sara Ittman leads Yoga classes.  The center has 2 locker rooms with showers.  One Wellness Center provides massage, acupuncture, and other modalities of healing services.  Yoga Tree earns 4 1/2 stars on Yelp.
  • Stone Mill Bakers rents a commercial kitchen in the rear of Le Garage as a commissary to supply its retail locations and off-premise catering operation.
  • Razzo – a cute little custom art shop that provides art objects and tourist items.

14,000 sq.ft. 2-story masonry building with a flat built-up roof.  The building covers a 7,000 sq.ft. lot.  The restaurant is on the lower level and the yoga studio is on the upper level.  There is a small third floor with a few offices.  Each tenant has their own heating and cooling system and their own gas and electric meter.  There are 4 separate private water meters so that the landlord can charge-back each tenant’s actual usage of water.

There is a 53-vehicle 29,490 sq.ft. parking lot in the rear.  This is a separate legal parcel, known as 3441 Pleasant Place.

 

Investment Summary:
$1,600,000   Investment Offering
$114                per square foot
$12,728          Monthly Rental Income (including CAM)
10.5                 Gross Rent Multiplier
8.4%               Projected Cap Rate
11.8%              Projected Cash-on-Cash Return on Investment

  • Address: 911 West 36th St
  • City: Baltimore
  • State/county: Maryland
  • Neighborhood: Hampden
  • Country: United States

Detail

Updated on April 18, 2019 at 6:27 pm

  • Price: $1,600,000
  • Property Type: Commercial

Contact info

Ben Frederick Realty
Ben Frederick Realty

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