5447-5459 Park Heights Ave - Storefront Retail/Residential FOR SALE


Baltimore, MD 21215
$888,000 USD
410-365-0200
5447-5459 Park Heights Ave, Baltimore, MD for Sale
$888,000 USD
Storefront Retail/Residential - FOR SALE
1/19
null | Request Cap Rate

5447-5459 Park Heights Ave
Baltimore, MD 21215


HIGHLIGHTS

  • NHP has been selected to invest $100 Million in single and multi family developments in the Pimlico neighborhood.
  • Gross potential $180,000 currently $126,000 @ 7.6% cap rate
  • $400 million in state bonds to modernize Pimlico race track with plans for a new clubhouse and guest amenities by 2027

OVERVIEW

This property at 5447-5459 Park Heights Avenue offers a rare value-add investment opportunity in a rapidly developing corridor. Recently appraised at $1.2M, the all-brick, 12,354 sq. ft. building sits on a 0.23-acre C-2 zoned corner lot and currently generates $126,000 in gross annual income, reflecting a 7.6% Cap Rate. With the potential to reach $180,000 in gross income, this is a prime play for an investor looking to increase cash flow and equity. The property features a diversified income stream consisting of five ground-floor commercial storefronts and 11 residential units. Current retail tenants include a tax preparation service, hair salon, driving school, shipping company, and Paparazzi African Grill, all benefiting from a high-traffic location with 110-ft deep lots, a 10-car front parking lot, and rear garage access. The residential mix includes spacious 2BR/2BA units, studios, and rooming units, with the flexible C-2 zoning allowing for the potential reconfiguration of rooming units into standard apartments. The seller has already invested $100,000 into recent improvements, but significant upside remains through strategic management and further modernization. Positioned in the heart of the Park Heights revitalization, the property is just blocks away from the state-led $400 million transformation of the historic Pimlico Race Course, which will introduce new hotels, event spaces, and amenities to the immediate area. This combination of stable, recession-proof income and massive development upside makes this a must-see acquisition for any portfolio.

FOR SALE DETAILS

PRICE

$888,000 USD

PRICE/SF

$103 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Convenience Store, Fast Food, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

C-2, Baltimore

APN/PARCEL ID

4528-019,4528-020,4528-021

ASK ABOUT THIS PROPERTY

Nicholas PiscatelliMaryland Commercial VenturesMore Info
410-365-0200

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Nicholas PiscatelliMaryland Commercial VenturesMore Info
410-365-0200

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