1135 Light St Baltimore, MD 21230

Property Details for 1135 Light St

Year built

1920

Construction

BRICK

Lot size

0.05 lot acres

Property size

5,247 SF

Zone code

C-1

Property type

Investment properties

Property subtype

Live-work space

APN

24-02-0951 -051

APU

24020951051

Description

This exceptional mixed-use property, located at 1135-1137 Light Street in Baltimore, Maryland, presents a compelling investment opportunity. The 5,247 square foot building, constructed in 1920, sits on a 2,195 square foot lot and is zoned C-1. Currently operating at 62% occupancy, the property features a ground floor retail/office space (formerly occupied by an optometry practice) and three residential apartments on the upper floors. The apartments are described as "B+" quality, boasting large layouts, individually metered utilities, and mini-split heating and cooling systems. The building offers a strong net operating income (NOI) of $94,359, resulting in an attractive 8.03% cap rate. The asking price is $1,175,000, translating to $223.94 per square foot. The property is a multi-tenant building with four tenants under a NNN lease structure. Its location in the desirable Federal Hill neighborhood, near the Inner Harbor and the developing Port Covington area, offers significant potential for future appreciation. The proximity to popular tourist destinations also presents an opportunity to increase NOI by converting the residential units to short-term rentals. Street parking is available, with a nearby parking garage providing additional convenience. This is a rare opportunity to acquire a well-positioned mixed-use asset in a thriving Baltimore neighborhood.

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Longitude

-76.612

Latitude

39.2761

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments