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
Property Details
- Property Type Other
- Property Size 17,806 SF
- Units 17
- Date Updated May 14, 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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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)
Attachments
Getting around
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Walk Score ®
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Transit Score ®
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Location
- City Baltimore, MD
- Neighborhood Downtown Baltimore
- Zip Code 21201
- Market Baltimore
Points of Interest
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Charles Center
0.28 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/Market Place
0.55 miles
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Shot Tower
0.56 miles
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Camden Station
0.73 miles
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Camden Street
0.76 miles
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Mount Royal / University of Baltimore
0.98 miles
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Hamburg Street
1.05 miles
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Upton
1.31 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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Home2 Suites
0.02 miles
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Hostelling International
0.08 miles
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Embassy Suites
0.12 miles
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Hotel Indigo
0.13 miles
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La Quinta Inn & Suites by Wyndham Baltimore Downtown
0.18 miles
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Quality Inn
0.20 miles
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La Quinta
0.26 miles
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Hotel Monaco Baltimore
0.27 miles
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Revival Baltimore
0.27 miles
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Lord Baltimore Hotel
0.29 miles
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Streets Market & Cafe
0.11 miles
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Charles Plaza
0.12 miles
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The Gallery at Harborplace
0.49 miles
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Eddie's of Mount Vernon
0.50 miles
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Pratt Street Pavilion (Harbor Place)
0.57 miles
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Light Street Pavilion (Harbor Place)
0.62 miles
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Save-A-Lot
0.83 miles
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OK Market & Deli
0.88 miles
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Harlem Grocery
1.00 miles
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O K Groceries
1.16 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.