Property summary
This exceptional redevelopment opportunity presents a 37,000 square foot property located at 926-938 E Monument St, Baltimore, MD 21202. The property, built in 1920, features a three-story building on a 17,000 square foot lot and boasts I-MU 1 zoning, permitting a blend of light industrial, residential, and commercial uses. Currently vacant, the property offers an immediate opportunity for a developer to create a mixed-use environment. The asking price is $699,999, translating to $18.92 per square foot. The property's strategic location across from the $1 billion Old Town Mall and former Somerset House redevelopments, near the Johns Hopkins campus and a metro station, ensures high visibility and accessibility. Its proximity to downtown Baltimore, I-83, and BWI Airport (22 minutes away) further enhances its appeal. The property includes two loading docks and ample parking. A comprehensive development package, including a Phase 1 environmental study and survey, is available for qualified parties. The anticipated occupancy date is January 31, 2024. This is a rare chance to capitalize on a prime location with significant upside potential in a rapidly developing area of Baltimore.
Property profile
VerifiedCap rate & NOI
Current use
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Spa & Massage Center
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
IMU-1 · Baltimore, MDThe 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…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IMU-1 in Baltimore, MD.
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