- For Sale Contact for pricing
- Property Type Other
- Property Size 17,806 SF
- Units 17
- Date Updated Apr 26, 2024
- Website themcdowellbuilding.sharplaunch.com
337-341 N Charles St. | Baltimore, MD 21201
Harbor Stone Advisors is pleased to present the opportunity to acquire The McDowell Building, a fully occupied asset located in Downtown Baltimore. The property is located less than a 5-minute walk away from Mercy Medical Center, one of Baltimore City's top employers, and just steps away from the historic Mt Vernon neighborhood.
The McDowell Building features (7) 1 Br-1 Ba, (8) 2 Br-2 Ba, and (2) commercial spaces. The commercial spaces are leased to Bella Bridesmaids and Elite Secrets Bridal through September 2025. There is also a parking garage on-site with seven parking spaces.
Current ownership gut renovated all of the units at 337 N Charles in 2018 with a scope of updated stainless steel appliances, granite countertops, new cabinets, and modern hardware/fixtures. The opportunity exists for a new owner to renovate all of the units at 339-341 N Charles with the same scope. Comparable properties nearby are achieving rents at least $300 higher than the Subject property.
The Property has pre-existing debt below market rates that can be assumed. The current loan balance is $1,787,753 with 5 years remaining and a 4% interest rate.
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Attachments
Highlights
- Opportunity to Acquire a Fully Occupied Asset in Downtown Baltimore
- Features (7) 1 Br-1 Ba, (8) 2 Br-2 Ba, and (2) commercial spaces
- Commercial spaces are leased to Bella Bridesmaids and Elite Secrets Bridal through September 2025
- Parking garage on-site with seven parking spaces
- Ability to Increase Rents Via Cosmetic Renovation of 13 Units
- Current ownership renovated all of the units at 337 N Charles in 2018 with a scope of updated stainless steel appliances, granite countertops, new cabinets, and modern hardware/fixtures
- Opportunity exists for a new owner to renovate all of the units at 339-341 N Charles with the same scope
- Comparable properties nearby are achieving rents at least $300 higher than the Subject property
- In-Place Assumable Debt Below Market Rates
- Property has pre-existing debt that can be assumed
- Current loan balance is $1,787,753 with 5 years remaining and a 4% interest rate
- Superior Location in Downtown Baltimore; Less Than a 5-Minute Walk Away from Mercy Medical Center
- Ranked a Walker's Paradise by WalkScore, just steps away from retail, dining, and cultural attractions
- Close proximity to Inner Harbor
- Major area employers nearby: Mercy Medical Center, Agora Financial, University Maryland Medical Center (UMMC) Midtown Campus
- Major area colleges nearby: Peabody Institute of the Johns Hopkins University, University of Maryland, Baltimore, University of Baltimore (UB)
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Contacts
Justin Verner
Harbor Stone Advisors
(410) 960-3962
Brooks Healy
Harbor Stone Advisors
(443) 523-6865
Tom Wohlgemuth
Harbor Stone Advisors
(240) 444-4656
Shana Callahan
Harbor Stone Advisors
Todd Galvin
Harbor Stone Advisors
(410) 575-1861
Location
Getting Around
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Walk Score ®
Walker's Paradise (99) -
Transit Score ®
Rider's Paradise (100) -
Bike Score ®
Bikeable (66)
- City Baltimore, MD
- Neighborhood Downtown Baltimore
- Zip Code 21201
- Market Baltimore
Points of Interest
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Lexington Market
0.26 miles
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Charles Center
0.28 miles
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Lexington Market
0.32 miles
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Centre Street
0.34 miles
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Baltimore Arena
0.42 miles
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Shot Tower
0.55 miles
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Shot Tower/Market Place
0.55 miles
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Convention Center
0.60 miles
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State Center
0.69 miles
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Camden Station
0.73 miles
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Gulf
0.38 miles
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ChargePoint
0.45 miles
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Exxon
0.45 miles
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Sunoco
0.78 miles
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BP
0.79 miles
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BP
0.85 miles
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Maryland Science Center
0.90 miles
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Mystik
1.01 miles
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Marathon
1.13 miles
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BP
1.20 miles
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15 W. Franklin Street Garage
0.09 miles
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210 St Paul Place Garage
0.14 miles
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McAuley Garage
0.15 miles
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The Weinberg Garage
0.16 miles
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The Bunting Garage
0.18 miles
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MAPS Employee Parking
0.23 miles
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SP+
0.23 miles
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Lot C
0.26 miles
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601 N Calvert Street Garage
0.26 miles
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Fallsway Impound Lot
0.27 miles
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Jack and Zach
0.01 miles
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HomeSlyce Pizza Bar
0.03 miles
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The Red Boat
0.03 miles
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Banthai
0.03 miles
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Lumbini Restaurant & Grill
0.04 miles
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Sijan Cafe
0.04 miles
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Sotto Sopra
0.04 miles
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Cazbar
0.06 miles
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Maisy's
0.06 miles
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The Burning Hen
0.06 miles
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New Foundations Mansef School
0.09 miles
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Saint Alphonsus School
0.16 miles
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The Peabody Institute of Johns Hopkins
0.19 miles
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Baltimore School For The Arts
0.31 miles
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Academy of Languages
0.32 miles
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Grace and Saint Peters School
0.32 miles
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Downtown Baltimore Child Care / Park Avenue
0.39 miles
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Saint Marys Seminary
0.47 miles
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Baltimore City Community College-Harbor Campus
0.55 miles
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School of Social Work
0.57 miles
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Charles Plaza Child Care & Development
0.07 miles
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All My Children Child Care Center
0.43 miles
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Downtown Baltimore Child Care, Inc.
0.54 miles
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Bolton Hill Nursery
0.96 miles
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Saint Vincent de Paul Head Start
1.29 miles
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Headstart, Harford Elementary School Modular
1.78 miles
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Kiddie Academy
1.93 miles
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Dynamic Deliverance Childcare Center
2.07 miles
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Homewood Early Learning Center
2.31 miles
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Bright Beginnings
2.86 miles