623 Luzerne Ave Baltimore, MD 21224-3718
- Bars
- 4,104 SF
- 0.05 lot acres
Current Use by Public Records
- Fuse Bar Lounge / Lounge
Property Details for 623 Luzerne Ave
- Year built
- 1900
- Construction
- BRICK
- Lot size
- 0.05 lot acres
- Property size
- 4,104 SF
- Zone code
- R-8
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 01-07-1839 -011
- APU
- 1071839011
Description
This exceptional investment opportunity presents a thriving, established restaurant and bar in Baltimore's desirable Canton neighborhood. Priced at $549,000, this 4,104 square foot, three-story building boasts a 13.48% cap rate and a strong $74,000 net operating income (NOI). The property features a fully equipped bar and kitchen with a hood system on the first floor, occupying approximately 2,100 square feet. The upper two floors currently serve as office space, offering significant potential for conversion into residential units. An unfinished basement provides ample storage. The property includes one parking space and benefits from a triple-net (NNN) lease with rent bumps. Located at 623 S Luzerne Ave, Baltimore, MD 21224, this corner property is situated in a prime location. The building also includes an adjacent structure at 625 S Luzerne Ave, adding to the overall square footage. Zoned R-*, this property presents a compelling investment opportunity with high potential for return. The current tenant has no credit rating, but the 100% occupancy and strong NOI demonstrate the business's success. This is a second-generation restaurant and bar, ready for immediate income generation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore City
- State
- Maryland
- Longitude
- -76.5797
- Latitude
- 39.2842
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
