804 Franklintown Rd Baltimore, MD 21216
- Distribution centers
- 55,176 SF
- 0.75 lot acres
Dec 14, 2020
Current Use by Public Records
- Distribution centers
Property Details for 804 Franklintown Rd
- Year built
- 1940
- Construction
- BRICK
- Lot size
- 0.75 lot acres
- Property size
- 55,176 SF
- Zone code
- R-8
- Property type
- Distribution centers
- APN
- 16-21-2481 -003
- APU
- 16212481003
Description
This exceptional opportunity presents a 42-unit Class A apartment building development project in Baltimore, MD, situated on a 0.75-acre lot at 804 N Franklintown Rd, zip code 21216. The project, totaling 53,631 square feet across three stories, is currently in the pre-construction phase. All necessary zoning variances have been secured, making it a "shovel-ready" investment. The design includes 33 parking spaces. The property is conveniently located less than two miles from Highway 95 and three miles from downtown Baltimore. Architectural drawings are available. The existing structure on the site must be demolished before construction can begin. The asking price is $1,050,000 ($19.58/sq ft, $25,000/unit). This redevelopment project offers significant potential for substantial monthly rental income, estimated between $71,000 and $84,000, depending on final finishes. The property is offered fee simple, with no ground lease. Prospective buyers are responsible for obtaining building permits and completing construction. Due diligence is recommended.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $260,000
- ML approach
- $595,000
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Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore City
- State
- Maryland
- Longitude
- -76.6659
- Latitude
- 39.2959
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
