1 Willard St Baltimore, MD 21223

Property Details for 1 Willard St

Year built

1920

Construction

BRICK

Lot size

1.52 lot acres

Property size

2,312 SF

Zone code

IMU-1

Property type

Office buildings

APN

20-07-2173 -028

APU

20072173028

Description

This exceptional industrial property at 1 Willard St, Baltimore, MD 21223, offers significant potential for diverse uses, including manufacturing, warehousing, and distribution. Its strategic location provides direct access to major transportation routes, enhancing logistical efficiency and connectivity. The property is situated within Baltimore's Enterprise Zone, unlocking substantial tax incentives: a 10-year real property tax credit on improvements and income tax credits for job creation. These incentives significantly reduce operating costs, making this an attractive investment opportunity. Furthermore, the property's zoning (IMU-1) allows for potential rezoning for multifamily development, opening doors for projects such as senior or affordable housing. This location benefits from several neighborhood revitalization plans, including the West Baltimore MARC Station Transit-Oriented Development (TOD) Plan, the Frederick Elementary School INSPIRE Plan, and the Southwest Partnership Vision Plan, all contributing to a positive growth trajectory for the area and potential property value appreciation. While the property currently lacks gas, electric, and a water meter (requiring installation), the existing water lines are in place. This presents a unique opportunity for a buyer to customize utilities to their specific needs. The combination of strategic location, substantial tax benefits, and participation in ongoing neighborhood revitalization efforts positions this property for long-term growth and success.

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Longitude

-76.655

Latitude

39.2861

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments