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    OFF-MARKET Estimated value $735,000
    Turn key restaurants

    511 Caroline St, Baltimore, MD 21231-2823

    3,500 SF 0.08 ac lot Built 1982
    Entity Owned 1-yr Hold Free & Clear
    Property ID
    US40-1046817
    Property summary
    AI-generated overview

    This 7,000 square foot commercial building, located in Baltimore's Fells Point National Historic District at 511 S. Caroline St, is being offered via auction on November 20, 2024, at 11:00 AM. The two-story, semi-detached masonry building, constructed in 1982 and renovated in 2015 and 2016, sits on a 0.08-acre lot and is zoned C-1 Commercial. Previously operating as the Handlebar Café, the property currently features a restaurant setup, gym space, and office areas. The first floor includes a full kitchen with walk-in coolers, a bar, seating areas, and two powder rooms. The second floor offers a gym, dance studio, offices, and two locker rooms with showers. Additional features include a (currently inoperable) elevator, forced air heat, a fire alarm and security system, and heavy power (formerly served by five electric meters). Exterior features include a brick facade, glass roll-up door with curb cut, roll-up security doors, and a flat built-up roof. The sale is subject to a $50,000 deposit (or 10% if the sale price requires it) payable by cashier's check at the time of the auction. The property is sold "as is," subject to easements, agreements, restrictions, or covenants of record. Prospective buyers are urged to conduct their due diligence before the auction. A ground rent of $7.11 annually applies.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1982
    Construction BRICK
    Total area 3,500 SF
    Lot 0.08 ac (3,659 SF)
    Zoning code C-1
    APN 03-07-1444 -041
    UPID US40-1046817
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $705k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $500k
    Blend (final) Blend
    $735k
    Owner & transaction history
    Snidal Fells II LLC · 1 yrs held
    Snidal Fells II LLC
    since 2025
    Last sale
    $750,000
    4 recorded transactions
    2025
    $915,000
    2015
    $750,000
    1969
    1969
    Zoning & alternative use
    C-1 · Baltimore, MD
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $810,000 +1.5%
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