1240 Pratt St Baltimore, MD 21223-2649

Property Details for 1240 Pratt St

Year built

1940

Construction

BRICK

Lot size

0.15 lot acres

Property size

528 SF

Zone code

C-2

Property type

Distribution properties

APN

18-07-0249 -019

APU

18070249019

Description

This Baltimore, MD investment property presents a compelling opportunity for savvy investors or owner-occupants. Located at 1240 W Pratt St, this mixed-use building boasts 4,500-5,000 square feet across two parcels (1234 & 1236 W Pratt St) on an 11,629 sq ft lot, offering a strong cash flow with a 9.05% cap rate and a current NOI of $63,378. The property features three tenants: a tire shop (leased for 2.5 years), a newly renovated convenience store, and a vacant three-bay garage previously used for car detailing, ideal for an owner-occupant. The building, constructed in 1920 and featuring two stories, includes 11 parking spaces with access from Pratt and Carey Streets. Additional value-add potential exists through the conversion of currently vacant upstairs space into residential units or additional retail space. The property benefits from high ceilings, zoned central air, three bathrooms, and four 10,000lb vehicle lifts (available separately). Its prime location directly across from Mount Clare Junction Shopping Mall and less than 1.5 miles from major highways (I-95, I-395, and I-295) ensures high visibility and accessibility. The property is zoned R8, Commercial and Automotive. Asking price: $699,000.

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Longitude

-76.6377

Latitude

39.2858

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments