3010 Greenmount Ave, Baltimore, MD 21218, USA
SOLD COMP
$755,000
Property ID :
Greenmount3010
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
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”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.
Suze Orman