2201 N Charles St: High Visibility Mixed-Use Building in Old Goucher Historic District

2201 N Charles St: High Visibility Mixed-Use Building in Old Goucher Historic District

2201 N Charles St: High Visibility Mixed-Use Building in Old Goucher Historic District

Charles Village Discount Mart, 2201, North Charles Street, Charles North, Baltimore, Maryland, 21218, USA

For Sale

$365,000

  • Front 1
  • Unit 3
  • Unit 3 utilities
  • Unit 3 5
  • Unit 3 4
  • Unit 3 3
  • Unit 3 2
  • Unit 2 util
  • Unit 2 lr
  • Unit 2 kitchen
  • Unit 2 br
  • Unit 2 bath
  • Store 2
  • Store 1
  • Roof
  • Roof 2
  • Lower Roof
  • Kitchen 2
  • Kitchen 1
  • Gas meters
  • Front 4
  • Front 3
  • Front 1
  • Electric meters
  • Basement

Property ID :

 RH-11299-property

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Units
4
Year Built
1920

Description

Located in historic Old Goucher, this 4-unit “Far Corner” building contains a convenience store, a commercial kitchen, and two residential apartments.

10,000 vehicles every day pass by this building at 22nd and North Charles St, most on their way home from work. The high traffic in this bustling business district ensures your commercial tenants will perform well and stay long-term. Residential tenants enjoy the privacy of a side-street entrance while staying close to the action. 2201 N Charles is an end unit with lots of natural light and excellent sign exposure to street traffic.

Apartments are separately metered, allowing tenants to easily pay their own utilities. Both units are equipped with all-in-one washer/dryer units. Retail units share heating and cooling systems but have separate electric meters. Kitchen uses a 3-phase electric converter to power walk-in refrigerator. Kitchen includes three-compartment sink and 7’8″ x 9’8″ walk-in refrigerator.

Commercial tenants require little to no management/maintenance, and both residential apartments are home to stable tenants. Enjoy instant cash flow and a quick return on investment. Add this income-producer to your portfolio or purchase it as your first investment!

OFFERING SUMMARY:
$365,000
$91,250   per unit
$105  per square foot
7.6 Times current actual rent (GRM)
7.4 Times Projected Annual Rent (GRM)
9.4%  Cap Rate
15.3%  Projected cash-on-cash return on investment

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