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2981 Fls Rd Baltimore, MD 21211-2494

OFF-MARKET Warehouses Google Maps
15,264 SF 0.31 ac lot Built 1875
Individually Owned 3-yr Hold Free & Clear
Estimated value (blended)
$810k
Range $729k – $891k (±10%)
Property ID US40-0161426

Property summary

AI-generated overview

This exceptional 15,264 square foot flex space at 2981 Falls Road in Baltimore, MD, presents a compelling value-add opportunity. Boasting IMU-1 Mixed Use zoning, this property offers remarkable versatility. Originally constructed in 1878, the building features robust construction, including impressively thick brick walls (over one foot deep). Situated on a 13,721 square foot lot, its prime location within the Falls Mill District/Hampden area provides excellent visibility and accessibility. The asking price is $750,000, translating to $49.14 per square foot. The property's zoning allows for a wide range of uses, including light industrial, office, residential, and retail, making it an ideal investment for developers and entrepreneurs seeking a unique and adaptable space. Its proximity to the Mill No. 1 redevelopment project further enhances its potential for significant appreciation. This is a rare chance to acquire a substantial property in a rapidly developing area with considerable upside potential. The property's size, zoning, and location combine to create a truly unique investment opportunity in the heart of Baltimore.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1875
Construction BRICK
Total area 15,264 SF
Lot 0.31 ac (13,721 SF)
Zoning code IMU-1
APN 13-12-3500 -007
UPID US40-0161426

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Metal Fabrication Plant Factory
  • Shipping Company Freight Service

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$925k
Blend (final) Blend
$810k

Owner & transaction history

since 2023
Last sale
$750,000
2 recorded transactions
2023
$750,000
1969
Price N/A

Zoning & alternative use

IMU-1 · Baltimore, MD
Zoning description

The IMU Industrial Mixed-Use Zoning Districts are intended to encourage the reuse of older industrial buildings for light industrial use, as well as a variety of non-industrial uses. The IMU-1 District is generally for i…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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