1236 W Pratt St
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1236 W Pratt St
4,332 SF Vacant Retail Building Baltimore, MD 21223 $699,000 ($161/SF) 8.49% Cap Rate
Investment Highlights
- Mixed Use Cash Cow with Value Add Opportunities
Executive Summary
9 - 11% CAP RATE. See Uploaded Pro-Forma. Mixed Use Property with Value-Add Opportunity. Newly vacant 3 Bay Automotive space makes this ideal for Owner Occupant or Investor. This cash flowing investment property in a prime location is situated at a high-traffic corner on Pratt Street and features an impressive 4,860 above ground sq ft. Tenants include a Tire Shop which has been there 2.5 years, a new renovated convenience store and a 3 Bay Garage that was formerly leased to a car detailing service. The 3 Bay Garage could be taken by an owner occupant buyer. The value-add opportunity is in additional upstairs spaces which need improvements. The upstairs section above the 3 Bay Garage could become an apartment or hair salon and the upstairs section above the tire shop could be a print studio, storage etc. There is off street parking for 11+ vehicles and separate entrances off Both Pratt and Carey St. Noteworthy amenities include high bay ceilings, zoned central air, three bathrooms, and four 10,000lb Vehicle Lifts (available for separate purchase). The property consists of two parcels, 1234 W Pratt St and 1236 W Pratt St, being sold together, providing exceptional cash flow today and a compelling opportunity to increase the property’s performance. Directly across from the bustling Mount Clare Junction Shopping Mall and less than 1.5 miles from I-95, I-395, and I-295, this property offers great accessibility for a high-volume business. Don't miss out – schedule your tour today! Updated photos are coming soon.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $78,000 | $18.01 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $78,000 | $18.01 |
Taxes | $4,168 | $0.96 |
Operating Expenses | $14,500 | $3.35 |
Total Expenses | $18,668 | $4.31 |
Net Operating Income | $59,332 | $13.70 |
Financial Summary (Pro forma - 2024)
Gross Rental Income | |
---|---|
Annual | $78,000 |
Annual Per SF | $18.01 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $78,000 |
Annual Per SF | $18.01 |
Taxes | |
---|---|
Annual | $4,168 |
Annual Per SF | $0.96 |
Operating Expenses | |
---|---|
Annual | $14,500 |
Annual Per SF | $3.35 |
Total Expenses | |
---|---|
Annual | $18,668 |
Annual Per SF | $4.31 |
Net Operating Income | |
---|---|
Annual | $59,332 |
Annual Per SF | $13.70 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,332 SF
Building Class
C
Year Built
1940
Price
$699,000
Price Per SF
$161
Cap Rate
8.49%
NOI
$59,332
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.83
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
R-8 - High-density residential
Frontage
80 FT on W. Pratt
Walk Score ®
Walker's Paradise (91)
Transit Score ®
Excellent Transit (81)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 18-07-0249-018 | Total Assessment | $148,933 |
Land Assessment | $0 | Annual Taxes | $4,168 ($0.96/SF) |
Improvements Assessment | $0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
18-07-0249-018
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$148,933
Annual Taxes
$4,168 ($0.96/SF)
Tax Year
2024
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1236 W Pratt St
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