628 North Chester Street: Single Tenant Commercial Investment Building, Two Blocks from Johns Hopkins Hospital

What Makes this Commercial Investment Building Special:

Located a short two blocks from the ever-expanding Johns Hopkins Hospital, 628 North Chester Street offers instant cash flow and an excellent opportunity for future value. A restaurant leases the building, and wishes to sign a long-term 5-year lease with the consent of a new owner.

Details on this Commercial Investment Building:

628 North Chester Street is a 3-story brick building with C-1 Community Commercial zoning. C-1 zoning allows a wide range of flexible business uses, including food service, retail, office, and residential.

The building is comprised of a Jamaican restaurant on the first floor; an unused apartment on the second floor; and an apartment used by the restaurant tenant on the third floor. An unfinished basement houses the utilities.

Who Pays What Utilities:

The building has two gas meters, and one electric meter with 200 amp service. Visible plumbing supply lines are copper, with a copper water main. Heat is provided by a gas-fired high efficiency Sears forced air furnace. Two water heaters provide hot water to the restaurant and upstairs apartments.

The tenant pays for all gas, electric, and water/sewer usage.

628 North Chester Street has vinyl replacement windows throughout, and a rubber roof.

What’s Nearby:

A short two-block walk to the west is Johns Hopkins Hospital, rated #1 hospital in Maryland and #4 in the nation. 628 North Chester Street sits on the border of the Northeast Market, home to many small mom-and-pop businesses. This area garners plentiful foot traffic and lots of business. 628 North Chester Street earns a WalkScore of 97, a TransitScore of 74, and a BikeScore of 65.

Investment Summary:

$195,000
$59 Per Sq. Ft.
9.0 Times Actual Rent (GRM)
8.8 Times Market Rent (GRM)
7.87% Cap Rate
10.0% Projected Cash-on-Cash Return