Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    538 Old Town Mall Baltimore, MD 21202

    Sponsored
    For Sale
    $490,000

    Baltimore Retail Space - Value-Add Opportunity

    Property size:
    6,144 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 6,144 square foot, three-story retail building located at 538 Old Town Mall in Baltimore, MD 21202 presents a compelling value-add opportunity for owner-users or investors. Built in 1920, the property features a recently re-pointed brick exterior and a well-maintained roof. The building boasts two staircases and two entrances for convenient access. Currently, the first floor is leased to a childcare center for $2,000 per month plus expenses. The upper two floors have been completely gutted, providing a blank canvas for new interior construction tailored to the buyer's specific needs. The seller is even willing to act as a contractor to complete the interior buildout for the new owner. This property is situated within an Opportunity Zone and Enterprise Zone, and is part of the Perkins Somerset Oldtown Transformation District. The C-2 zoning allows for a variety of uses, including retail, residential, and office spaces, offering significant flexibility for future development. The asking price is $490,000. This is a rare chance to acquire a building in a prime location at an affordable price, allowing for complete customization to suit your business requirements.

    Property Features for 538 Old Town Mall

    General Information

    Property type
    Retail properties
    Square Feet
    6,144 SF
    Class
    C

    Building Details

    Year Built
    1920

    HighLights

    • Value‑add opportunity for owner‑users or investors.
    • Located in an Opportunity Zone and Enterprise Zone, within the Perkins Somerset Oldtown Transformation District.
    • 6,144 square foot retail building, ready for interior build‑out.
    • C‑2 zoning allows for retail, residential, and office uses.
    • Asking price: $490,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Terry Tots Day Care Center

    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
    -76.6032505
    Latitude
    39.2969318

    Nearby Similar for Sale

    • $949,999
      6,702 SF

      Renovated Brownstone Multifamily Investment Opportunity

      Turnkey multifamily property with five luxury apartment units in Baltimore.
      2304 Eutaw Pl, Baltimore, MD 21217
      View Details
    • New
      $750,000
      2,307 SF

      Renovated Firehouse with Apartment Units

      Renovated firehouse featuring two apartments and potential for expansion.
      1001 Hilltop Rd, Baltimore, MD 21226
      View Details
    • New
      $275,000
      3,256 SF

      West Arlington Multifamily Investment Opportunity

      Four-unit property in West Arlington near transportation. Investor opportunity.
      4213 Groveland Ave, Baltimore, MD 21215
      View Details
    • $300,000
      2,640 SF

      Renovated Duplex in Historic Upton

      Fully renovated duplex in Baltimore's Upton neighborhood with income potential.
      750 Dolphin St, Baltimore, MD 21217
      View Details
    • $550,000
      1,965 SF

      Federal Hill Multi-Unit Investment

      Multi-unit property in Federal Hill with income potential.
      1447 William St, Baltimore, MD 21230
      View Details
    • $864,000

      Fells Point Mixed-Use Investment

      Mixed-use property in historic Fells Point with income potential.
      827 S Bond St, Baltimore, MD 21231
      View Details
    • $1,075,000

      Renovated Multifamily in Mount Vernon

      Fully renovated six-unit property in Baltimore's Mount Vernon neighborhood.
      14 E Read St, Baltimore, MD 21202
      View Details
    • $125,000
      2,102 SF

      Versatile Baltimore Mixed-Use Building

      Spacious 4-story building in Howard Park neighborhood.
      4905 Liberty Heights Ave, Baltimore, MD 21207
      View Details
    • $775,000
      3,340 SF

      Bolton Hill Multifamily Investment Opportunity

      Multifamily property in historic Bolton Hill near universities and hospitals.
      1404 Park Ave, Baltimore, MD 21217
      View Details
    • $1,100,000
      10,966 SF

      Mount Vernon Mixed-Use Investment

      Fully occupied mixed-use building in historic Mount Vernon neighborhood.
      18 W Franklin St, Baltimore, MD 21201
      View Details
    • $750,000
      2,632 SF

      Historic Baltimore Property with Barn

      Unique property featuring a historic home and converted barn.
      337 E Hamburg St, Baltimore, MD 21230
      View Details
    • $699,900
      0.07 Acres

      Baltimore Multi-Unit Investment Property

      Five-unit property with $66,000 annual rent roll.
      1404 Madison Ave, Baltimore, MD 21217
      View Details

    FAQs

    What type of property is this?
    Retail property - Baltimore Retail Space - Value-Add Opportunity
    Where is this retail property located?
    The property is located at 538 Old Town Mall Baltimore, MD.
    What is the asking price?
    The asking price for this property is $490,000.
    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, within the Perkins Somerset Oldtown Transformation District.; 6,144 square foot retail building, ready for interior build-out.
    (202) 744-6910
    Request Owner's contact information
    538 Old Town Mall Baltimore, MD 21202
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    538 Old Town Mall
    Baltimore, MD 21202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    538 Old Town Mall Baltimore, MD 21202
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.