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    11 Lexington E , #100

    BALTIMORE, MD 21202
    • $749,500
    • STATUS: Active
    • ON SITE: 257 days
    • ID#: MDBA496092
    UPDATED: 51 min ago
    $749,500
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    Built:
    1921
    County:

    School Ratings & Info

    Description

    Price just lowered 100K! Motivated Seller! Rare Opportunity to own the prime 1st floor only of this newly renovated Office Condominium Building near the beautiful Inner Harbor and Courthouses in Baltimore! The Unit is fully leased to a large international medical organization with locations in multiple cities. This location contains a Retail Pharmacy plus medical facilities and exam rooms for patients. The original lease term is for 5 years and 4 months (10/01/17-01/31/2023). The tenant completely renovated the medical office from 2017-2019 investing an estimated $250,000-$300,000 before opening its doors. The Tenant recently (in 2019) build a permanent ramp and railing at the entrance to accommodate medical patients. Also, the building itself was renovated in 2017-2018 and the entire building is fully leased and/or occupied by owner users. A new security system was installed in 2018 as well as all Lighting was converted to LED energy efficient lighting and all old boilers were removed and installed with high efficiency HVAC Units. The Landlord pays base taxes and condo fees. Tenant pays any increase from base taxes and condo fees. Lease includes annual increases of 3%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. This is rare opportunity to own the most prized area of any building (the 1st Floor Retail/Medical office space) without having the challenges of renting standard higher floors office space. This Unit also includes storage units in the basement that are deeded with the condo which can be leased for additional income separate from the 1st floor. Extra Features: This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Redux Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-10-30T23:52:39.963.
    dmv.thereduxgroup.com/homes/103281467
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    11 Lexington E , #100 BALTIMORE, MD 21202

    • Price: $749,500
    • Status: Active
    • Updated: 51 min ago
    • ID#: MDBA496092
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1921
    Built
    County:
    Baltimore City
    School District:
    Baltimore City Public Schools
    Property Description
    Price just lowered 100K! Motivated Seller! Rare Opportunity to own the prime 1st floor only of this newly renovated Office Condominium Building near the beautiful Inner Harbor and Courthouses in Baltimore! The Unit is fully leased to a large international medical organization with locations in multiple cities. This location contains a Retail Pharmacy plus medical facilities and exam rooms for patients. The original lease term is for 5 years and 4 months (10/01/17-01/31/2023). The tenant completely renovated the medical office from 2017-2019 investing an estimated $250,000-$300,000 before opening its doors. The Tenant recently (in 2019) build a permanent ramp and railing at the entrance to accommodate medical patients. Also, the building itself was renovated in 2017-2018 and the entire building is fully leased and/or occupied by owner users. A new security system was installed in 2018 as well as all Lighting was converted to LED energy efficient lighting and all old boilers were removed and installed with high efficiency HVAC Units. The Landlord pays base taxes and condo fees. Tenant pays any increase from base taxes and condo fees. Lease includes annual increases of 3%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. This is rare opportunity to own the most prized area of any building (the 1st Floor Retail/Medical office space) without having the challenges of renting standard higher floors office space. This Unit also includes storage units in the basement that are deeded with the condo which can be leased for additional income separate from the 1st floor. Extra Features: This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status.
    Exterior Features

    Construction Materials Brick Garage YN No Location Type Business District Parking Types None Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 15000.00 Cooling Energy Star Cooling System Heating Energy Star Heating System Heating YN Yes Net Square Feet 2995.00 Security Features Desk in LobbyIntercomSecurity SystemSmoke DetectorSurveillance Sys

    Property Features

    Accessibility Features 32"+ Wide Doors36"+ Wide Halls48"+ Halls2+ Access ExitsDoors - Lever Handle(S)Accessible Switches/OutletsElevatorEntry Slope <1'Wheelchair Mod Association YN No Business Type Professional Central Air YN No Cooling Fuel Electric Heating Fuel Natural Gas Hot Water Natural Gas Lease Considered YN Yes Navigable Water YN N Net Operating Income 45704.00 New Construction YN No Original MLSNumber 302198983084 Ownership Interest Other Possession Immediate Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 3080.00 Tax Assessment Amount 189400.00 Vacation Rental YN No Water Source Public Year Built Effective 2017 Zoning 0

    Listing courtesy of Paradise Realty, Inc..


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Redux Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-10-30T23:52:39.963.
     
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