200 N Central Ave - Schools FOR SALE


Baltimore, MD 21202- Pleasant View Gardens
$7,500,000 USD
202-318-6800
200 N Central Ave, Baltimore, MD for Sale
$7,500,000 USD
Schools - FOR SALE
1/6
null | Request Cap Rate

200 N Central Ave
Baltimore, MD 21202
Pleasant View Gardens


HIGHLIGHTS

  • Recently Upzoned from EC-2 to C-2 | Uses Include Multifamily, Commercial, & More
  • Flexible Development Standards | No Maximum FAR | Potential for 500+ Multifamily Units
  • Development Incentives Available | OZ, LIHTC, HRTC, NMTC, HUBZone, & Local Programs
  • Located within the 244-Acre Perkins Somerset Oldtown (PSO) Redevelopment District
  • Walking Distance to the Inner Habor, Harbor East, & Johns Hopkins

OVERVIEW

Feldman Ruel is pleased to offer for sale 200 N Central Avenue, located along the Central Avenue corridor and in the Pleasant View Gardens neighborhood within the Perkins Somerset Oldtown district of Baltimore, Maryland. The property consists of a five-level, 153,447-square-foot building situated on a 2.73-acre (118,888-square-foot) lot. Originally built in 1923 as Frederick Douglass High School—the first high school for African American students in the state of Maryland—the building was purchased in 2002 and operated as the main campus of Sojourner–Douglas College until its closure in 2015. Current ownership acquired the property in 2023 and completed a rezoning from EC-2 to C-2, enabling a wide range of potential alternative uses. The surrounding area is part of the Perkins Somerset Oldtown Transformation Plan, a long-term initiative to revitalize East Baltimore, particularly around historic housing complexes and market sites. Since 2016, more than $540 million has been invested by federal, state, city, and private sources to support mixed-income housing, office, retail, and community amenities. The site qualifies for an array of incentive programs for both adaptive reuse and new construction. While historically significant, the property is not a designated landmark and may be substantially altered or demolished, allowing for hundreds of thousands of square feet of new development under flexible C-2 zoning with no maximum FAR.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$49 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Schools

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

85

LAND DETAILS

LAND ACRES

2.73 AC

LAND SF

118,919 SF

ZONING

C2

APN/PARCEL ID

1320-001

ASK ABOUT THIS PROPERTY

Josh FeldmanFeldman Ruel Urban Property Advisors, LLCMore Info
202-318-6800

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Josh FeldmanFeldman Ruel Urban Property Advisors, LLCMore Info
202-318-6800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.