11 Charles StBaltimore, MD 21201

Property Details for 11 Charles St

Year built

1920

Construction

BRICK

Lot size

0.11 AC

Property size (Sq ft)

14,274 SF

Zone code

C-5TO

Property type

Office buildings

APN

04-11-0648 -013

APU

4110648013

Description

This exceptional investment opportunity presents a 9,798 square foot FedEx Office storefront in Baltimore, MD's vibrant downtown. Located at 11 S Charles St, this 1912-built property sits on a 0.11-acre corner lot and boasts a strong Net Operating Income (NOI) of $213,107 annually. The current lease, a Triple Net (NNN) agreement with the landlord responsible for roof and structure, extends for three years, with a three-year option including a 10% rent increase, boosting NOI to $234,466. The tenant, FedEx Office, has occupied the space since January 2004, demonstrating long-term stability. The asking price is $3,205,000, representing a compelling 6.65% cap rate. The property's total square footage, including the basement, is 14,479 square feet, though the basement is not included in the rentable square footage calculation. This prime location offers significant potential for long-term growth and passive income. The property's strong tenant, favorable lease terms, and prime downtown location make it an attractive investment opportunity. The building's historic character adds to its unique appeal. This is a rare chance to acquire a high-performing, net-leased retail property in a desirable urban setting.

• CAP approach

  CAP return

  Valuation

  6%

  $3,077,804

  6.5%

  $2,841,050

  7%

  $2,638,118

• Comparable approach

  Method

  Valuation

  Relative Method

  $897,977

  Geo Method

  $897,977

• Alternative Use

  Use

  Valuation

  Residential

  $3,522,902

  Hospitality

  $3,226,959

  Educational

  $2,684,792

  Medical

  $2,777,126

  Retail

  $4,176,344

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Latitude

39.289

Longitude

-76.6147

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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