1611 Bank StBaltimore, MD 21231

Property Details for 1611 Bank St

Year built

1920

Construction

BRICK

Lot size

0.04 AC

Property size (Sq ft)

3,020 SF

Zone code

R-8

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

03-08-1435 -041

APU

3081435041

Description

This exceptional 1700-square-foot restaurant space is ideally situated in the vibrant Fells Point submarket of Baltimore. Currently configured as a restaurant, this single-tenant property offers significant versatility and is suitable for a variety of food service concepts, including cafes, pizza shops, or catering businesses. The space boasts two convenient walk-in refrigerators, a main floor bathroom for customer use, and valuable upstairs storage for inventory or supplies. Modern updates include central air conditioning and recently upgraded lighting, ensuring a comfortable and efficient environment for both staff and patrons. The property benefits from excellent foot traffic, further enhanced by a nearby condominium development slated for completion by the end of 2024, promising increased customer flow and visibility. Tenants are responsible for utilities. For those seeking a fresh start, the possibility of negotiating assistance with complete renovations is available. This presents a unique opportunity to establish or relocate a thriving business in a highly desirable and rapidly developing area of Baltimore. The property's adaptable layout and prime location make it an exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $651,182

  6.5%

  $601,091

  7%

  $558,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $189,988

  Geo Method

  $189,988

• Alternative Use

  Use

  Valuation

  Residential

  $745,353

  Hospitality

  $682,739

  Educational

  $568,031

  Medical

  $587,566

  Retail

  $883,604

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Latitude

39.2863

Longitude

-76.5948

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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