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    581 Old Town Mall Baltimore, MD 21202

    For Sale
    $250,000

    1,908 SF Office, $250K, Value-Add

    Property size:
    1,908 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This 1,908-square-foot executive office building in Baltimore, MD, presents a compelling value-add opportunity for owner-users or investors. Located in the Perkins Somerset Oldtown Transformation District, within both an Opportunity Zone and Enterprise Zone, this three-story, 1920-built structure offers significant potential. The building, zoned C-2, allows for retail, residential, and office uses. The first floor features a second-generation restaurant space currently available for lease. The second and third floors require renovation, but the brick exterior has been recently re-pointed, and the roof is in good condition. The building's total size is 1,908 square feet, with each of the upper two floors comprising 828 square feet. The seller is open to acting as a contractor to complete the interior buildout for the new owner, allowing for customized design to meet specific business needs. This property offers a rare chance to acquire a building at an attractive price point in a rapidly developing area, with the flexibility to tailor the space to your exact requirements. The 0.02-acre lot is situated at 581 Old Town Mall, Baltimore, MD 21202.

    Property Features for 581 Old Town Mall

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    1,908 SF
    Class
    C
    Lot Size
    871 SF

    Building Details

    Year Built
    1920

    HighLights

    • $250,000 asking price for a 1,908 sq ft Class C office building.
    • Located in Baltimore, MD, in the Perkins Somerset Oldtown Transformation District, an Opportunity Zone and Enterprise Zone.
    • 1,908 sq ft building on a 0.02‑acre lot, built in 1920, with C‑2 zoning allowing retail, residential, and office uses.
    • Retail building in shell condition, ready for interior build‑out; seller may act as contractor for build‑out.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Toast Delicatessen Deli Wacky Waffles ToGo Breakfast Restaurant

    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
    -76.6022891
    Latitude
    39.2972852

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    FAQs

    What type of property is this?
    Office Property / Space - 1,908 SF Office, $250K, Value-Add
    Where is this office property / space located?
    The property is located at 581 Old Town Mall Baltimore, MD.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: $250,000 asking price for a 1,908 sq ft Class C office building.; Located in Baltimore, MD, in the Perkins Somerset Oldtown Transformation District, an Opportunity Zone and Enterprise Zone.; 1,908 sq ft building on a 0.02-acre lot, built in 1920, with C-2 zoning allowing retail, residential, and office uses.
    (202) 744-6910
    Request Owner's contact information
    581 Old Town Mall Baltimore, MD 21202
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    Baltimore, MD 21202
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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
    581 Old Town Mall Baltimore, MD 21202
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