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    OFF-MARKET
    Turn key restaurants

    581 Old Town Mall, Baltimore, MD 21202-4191

    1,908 SF 0.02 ac lot Built 1920
    Entity Owned 14-yr Hold Free & Clear
    Property ID
    US40-1473657
    Property summary
    AI-generated overview

    This 1,908-square-foot executive office building in Baltimore, MD, presents a compelling value-add opportunity for owner-users or investors. Located in the Perkins Somerset Oldtown Transformation District, within both an Opportunity Zone and Enterprise Zone, this three-story, 1920-built structure offers significant potential. The building, zoned C-2, allows for retail, residential, and office uses. The first floor features a second-generation restaurant space currently available for lease. The second and third floors require renovation, but the brick exterior has been recently re-pointed, and the roof is in good condition. The building's total size is 1,908 square feet, with each of the upper two floors comprising 828 square feet. The seller is open to acting as a contractor to complete the interior buildout for the new owner, allowing for customized design to meet specific business needs. This property offers a rare chance to acquire a building at an attractive price point in a rapidly developing area, with the flexibility to tailor the space to your exact requirements. The 0.02-acre lot is situated at 581 Old Town Mall, Baltimore, MD 21202.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1920
    Construction BRICK
    Total area 1,908 SF
    Lot 0.02 ac (828 SF)
    Zoning code C-2
    APN 05-02-1288 -059
    UPID US40-1473657
    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
    Current use
    Occupant on record · Public records
    • Toast Delicatessen Food Market Restaurant
    • Wacky Waffles ToGo Restaurant
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    581 Oldtown Mall LLC · 14 yrs held
    581 Oldtown Mall LLC
    since 2012
    1 recorded transaction
    2012
    $19,000
    Zoning & alternative use
    C-2 · Baltimore, MD
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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