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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Listing information last updated on June 4th, 2020 at 9:21am EDT.