3010 Greenmount Ave: Price Reduced on this 8,700 sq.ft. Retail Center For Sale

3010 Greenmount Ave:  Price Reduced on this 8,700 sq.ft. Retail Center For Sale

3010 Greenmount Ave: Price Reduced on this 8,700 sq.ft. Retail Center For Sale

3010 Greenmount Ave, Baltimore, MD 21218, USA

SOLD COMP

$755,000

Property ID :

 Greenmount3010

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Units
4
Bathrooms
4
Garage
10
Sq Ft.
8776

Description

100% Leased to stable, local, long-term tenants, producing solid cash flow.  Owning this property in the Waverly Business District is a great candidate to produce solid investment returns for many years.  The store fronts were refurbished in 2007.  Each store interior was updated with new heating and air conditioning systems, flooring, ceiling, and bathrooms within the last 9 years.

The Waverly Shopping District is home to the very popular Waverly Farmer’s Market, held every Saturday morning, year-round, from 8 a.m. to 12 noon.  This farmers market has a 4.5 rating on Yelp and a 4.8 rating on Google.

This shopping center has 4 tenants:  A Day Care Center, located here since 2007; a Pizza Carryout, located here since 1998; a church located here since 2014 and a local convenience store which opened in 2011.  Each lease is triple-net with the tenant paying their own utilities, property taxes, and building insurance.

Sturdy 1950 brick over block construction with each store having a new roof in the last 7 years.

In addition to the 17,800 vehicles that pass this location each day, it is located on the #8 Bus Line, which is the most popular and most heavily traveled bus line in Baltimore.

Investment Highlights:
$900,000   Investment
$225,000    Per Unit
$103             Per Square Foot of Building Area
$8,537         Current Actual Monthly Rental Income
8.8                GRM (Gross Rent Multiplier)
7.9                 Cap Rate

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