Mixed-Use Parking Garage | I-83 Visibility | 407 E Saratoga St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Mixed-Use Parking Garage | I-83 Visibility 407 E Saratoga St
25,891 SF Specialty Building Online Auction Sale Baltimore, MD 21202
You have won the auction!
Please check your email for next steps from the Contracts & Closing Team.
The bid amount you entered is less than the next minimum bid amount, please try again
Confirm your bid amount of
{{Auction.BidAmount}}
Investment Highlights
- Impressive 25,891-SF specialty building with ground-level retail and a two-story parking garage boasting ample parking in Downtown Baltimore.
- Rare investment with the ability to generate upside through renovation or transformation with flexible C-5-DC zoning permitting many building uses.
- Convenient accessibility to numerous nearby amenities and situated less than 10 miles from BWI Airport, the busiest airport in the region.
- Strategically positioned with direct access to I-83, with sought-after proximity to M&T Bank Stadium City Hall, Camden Yards, and Mercy Hospital.
- Encircled by a robust community of 515,081 residents living within a 5-mile radius who have a spending power of more than $5.3 billion annually.
- Possible developers could benefit from Baltimore’s High-Performance Tax Credit, which offers a 10-year tax abatement on new improvements and more.
Executive Summary
407 E Saratoga Street consists of a brick, 25,891-square-foot specialty building built out with first-floor retail and an upper-level parking garage in Baltimore’s Central Business District. The asset comprises 15,975 square feet of flexible retail space with the two-floor parking deck above that accommodates 150 vehicles featuring 115 structured and 35 surface spaces. This property is favorably positioned over a 0.59-acre lot with C-5-DC zoning designation allowing for a wide range of potential development uses as it is minimally restrictive with no maximum building height.
Significantly established within Baltimore City, 407 E Saratoga Street has immediate access to Interstate 83 with visibility to over 57,200 vehicles per day. The asset is surrounded by a densely populated community of 515,081 residents living within a 5-mile radius, making an average household income of about $78,000. These residents are joined by a substantial daytime employment of 326,792 employees and have an impressive consumer spending of well over $5.3 billion annually.
407 E Saratoga Street features optimum proximity to City Hall, Camden Yards, Mercy Hospital, and M&T Bank Stadium. The area is strategically encompassed by numerous amenities, including restaurants, retailers, banking services, and public transportation. Shot Tower/Market Place, Charles Center, Lexington Market, and University Center/Baltimore Street Transit Stops are located within a four-minute drive, while Camden Station and Penn Station Commuter Rails are within six minutes. This premium location also offers easy access to Baltimore-Washington Thurgood Marshall International Airport (BWI) via a less than 10-mile commute.
Potential developers may benefit from Baltimore’s High Performance Tax Credit, which offers a 10-year tax abatement on new improvements and drastically reduces the cost burden upon reassessment. 407 E Saratoga Street offers incredible opportunities for a new owner seeking an exceptionally situated acquisition with dynamic capabilities that could bring valuable upside in the near future.
Property tours are available by appointment only. Please contact the broker to schedule.
Significantly established within Baltimore City, 407 E Saratoga Street has immediate access to Interstate 83 with visibility to over 57,200 vehicles per day. The asset is surrounded by a densely populated community of 515,081 residents living within a 5-mile radius, making an average household income of about $78,000. These residents are joined by a substantial daytime employment of 326,792 employees and have an impressive consumer spending of well over $5.3 billion annually.
407 E Saratoga Street features optimum proximity to City Hall, Camden Yards, Mercy Hospital, and M&T Bank Stadium. The area is strategically encompassed by numerous amenities, including restaurants, retailers, banking services, and public transportation. Shot Tower/Market Place, Charles Center, Lexington Market, and University Center/Baltimore Street Transit Stops are located within a four-minute drive, while Camden Station and Penn Station Commuter Rails are within six minutes. This premium location also offers easy access to Baltimore-Washington Thurgood Marshall International Airport (BWI) via a less than 10-mile commute.
Potential developers may benefit from Baltimore’s High Performance Tax Credit, which offers a 10-year tax abatement on new improvements and drastically reduces the cost burden upon reassessment. 407 E Saratoga Street offers incredible opportunities for a new owner seeking an exceptionally situated acquisition with dynamic capabilities that could bring valuable upside in the near future.
Property tours are available by appointment only. Please contact the broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Property Facts
| Sale Type | Investment | Building Size | 25,891 SF |
| Sale Conditions | Auction Sale | No. Stories | 3 |
| Property Type | Specialty | Year Built | 1940 |
| Property Subtype | Parking Garage | Parking Ratio | 5.79/1,000 SF |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Lot Size | 0.59 AC | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Specialty |
| Property Subtype | Parking Garage |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 25,891 SF |
| No. Stories | 3 |
| Year Built | 1940 |
| Parking Ratio | 5.79/1,000 SF |
| No. Drive In / Grade-Level Doors | 2 |
| Opportunity Zone |
Yes |
Amenities
- Air Conditioning
1 of 1
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $926,900 | |
| Land Assessment | $845,700 | Total Assessment | $1,772,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$845,700
Improvements Assessment
$926,900
Total Assessment
$1,772,600
zoning
| Zoning Code | C-5-DC |
| C-5-DC |
Sale Advisors
Sale Advisors
Benjamin Wilson, Senior Managing Director
(202) 499-4077
Contact
Experienced Commercial Real Estate Broker with a demonstrated history of working in the Land, Retail, Development, Mixed-Use, and Office product types. Skilled in Sales, Public Speaking, Management, Financial Analysis, and Leadership. Strong real estate professional with a Bachelors of Science focused in Business Administration; Finance & Accounting from American University - Kogod School of Business.
Licenses:
DC SP98372489
Virginia 0225208497
Maryland 649631
Licenses:
DC SP98372489
Virginia 0225208497
Maryland 649631
Aaron Inman, Senior Associate | Investment Sales
(410) 505-0003
Contact
Aaron represents buyers and sellers of multifamily investment assets throughout the Baltimore and D.C. markets. He is responsible for a full range of services, including start-to-finish deal execution, overseeing the due diligence process, transaction analysis, and production of offering memorandum.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Keisha Hartshorn
Contact
Auctioneer License:
Ten-X Vibhav Kapila RE Brkr 660150
1 of 12
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
1 of 1
Presented by
Mixed-Use Parking Garage | I-83 Visibility | 407 E Saratoga St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Presented by
Mixed-Use Parking Garage | I-83 Visibility | 407 E Saratoga St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.