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.