6901, Belair Road, Elmwood, Overlea, Baltimore County, Maryland, 21206, USA
Rehab needed on this partial rented and partially fire damaged mixed use site. This 3/4 acre tract is Zoned BL and located in Baltimore County which has lower property taxes and a responsive government system. This site could be developed into a modern retail use, assisted living, affordable housing, medical facility or offices.
This site consists of 4 continuous parcels:
Investing $200,000 renovating the fire damaged building and up-fitting the retail building would result in an investment at 8.8% cap rate with 11% cash-on-cash (see Cash Flow statement for details).
The list price of $1,100,000 equates to a reasonable $34 per sq.ft. of land if the property is to be demolished and redeveloped. The list price equates to a reasonable $72 per sq.ft. of building area.
LOCATION: 1 block above Northern Parkway, 1 mile inside I-695, the Baltimore Beltway, this property is convenient and accessible to downtown Baltimore, Towson, and White Marsh.
Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller. Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”.
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