For Sale
$699,000

1240 Pratt St Baltimore, MD 21223

High-yield retail & auto shop; prime location.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This Baltimore, MD investment property presents a compelling opportunity for savvy investors or owner-occupants. Located at 1240 W Pratt St, this mixed-use building boasts 4,500-5,000 square feet across two parcels (1234 & 1236 W Pratt St) on an 11,629 sq ft lot, offering a strong cash flow with a 9.05% cap rate and a current NOI of $63,378. The property features three tenants: a tire shop (leased for 2.5 years), a newly renovated convenience store, and a vacant three-bay garage previously used for car detailing, ideal for an owner-occupant. The building, constructed in 1920 and featuring two stories, includes 11 parking spaces with access from Pratt and Carey Streets. Additional value-add potential exists through the conversion of currently vacant upstairs space into residential units or additional retail space. The property benefits from high ceilings, zoned central air, three bathrooms, and four 10,000lb vehicle lifts (available separately). Its prime location directly across from Mount Clare Junction Shopping Mall and less than 1.5 miles from major highways (I-95, I-395, and I-295) ensures high visibility and accessibility. The property is zoned R8, Commercial and Automotive. Asking price: $699,000.

Highlights

  • 9-11% cap rate; strong cash flow and value-add potential.
  • Prime Pratt Street location, across from Mount Clare Junction Mall, near I-95, I-395, and I-295.
  • Value-add opportunity: convert upstairs space into apartments or retail.
  • Ideal for owner-occupants or investors; vacant 3-bay automotive space.
  • Cash-flowing investment with existing tenants (tire shop, convenience store).
  • 11+ parking spaces with dual street access.

Property Details for 1240 Pratt St

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,500 SF
Year Built
1920
Stories
2
Units
3

Location Insight

City
Baltimore
County
Baltimore
State
Maryland
Latitude
39.285741039862
Longitude
-76.637959424981

FAQs

What type of property is this?
Retail property - High-yield retail & auto shop; prime location.
Where is the retail property located?
The property is located at 1240 Pratt St Baltimore, MD.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 9-11% cap rate; strong cash flow and value-add potential.; Prime Pratt Street location, across from Mount Clare Junction Mall, near I-95, I-395, and I-295.; Value-add opportunity: convert upstairs space into apartments or retail.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1240 Pratt St
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