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    559-561 Old Town Mall Baltimore, MD 21202

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    For Sale
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    Baltimore, MD Office Space - Value-Add

    Property size:
    6,794 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 6,794 square foot, two-story commercial building, located at 559-561 Old Town Mall in Baltimore, MD, presents a unique value-add opportunity for owner-users or investors. Built in 1920, the property has undergone significant exterior renovations, including a new roof, shoring, and re-pointed brickwork. The interior is ready for build-out, with the seller offering to complete this work as a contractor for the new owner. The building sits on a 0.08-acre lot and is zoned C-2, permitting retail, residential, and office uses. This prime location within Baltimore's Perkins Somerset Oldtown Transformation District offers significant potential. The property is situated in both an Opportunity Zone and an Enterprise Zone, providing additional investment incentives. The first floor encompasses 3,578 square feet, with the remaining space on the second floor. This is a chance to acquire a building at an attractive price and customize the interior to perfectly suit your business needs. The property is classified as Class C.

    Property Features for 559-561 Old Town Mall

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    6,794 SF
    Class
    C
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1920
    Stories
    2

    HighLights

    • Value‑add opportunity for owner‑users or investors.
    • Located in an Opportunity Zone and Enterprise Zone.
    • Situated in the Perkins Somerset Oldtown Transformation District.
    • 6,794 SF retail building, shell condition, ready for tenant improvements; 3,578 SF on the first floor.
    • Zoned C‑2, allowing retail, residential, and office uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6025261
    Latitude
    39.2968248

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    FAQs

    What type of property is this?
    Office Property / Space - Baltimore, MD Office Space - Value-Add
    Where is this office property / space located?
    The property is located at 559-561 Old Town Mall Baltimore, MD.
    What are key features of this property?
    This property features: Value-add opportunity for owner-users or investors.; Located in an Opportunity Zone and Enterprise Zone.; Situated in the Perkins Somerset Oldtown Transformation District.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    559-561 Old Town Mall Baltimore, MD 21202
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