Income-generating Fells Point commercial property for sale features $72,000 annual gross income and price of $685,000. Offered for sale at 8% capitalization rate and price per square foot rate of roughly $160. Property consists of both 1924 and 1926 Fleet St. and offers two commercial spaces and two apartments. Both apartments have been fully rehabbed and collectively feature exposed brick, recessed lighting, washer/dryer, garbage disposals, ceiling fans, hardwood floors, spiral staircases, new windows, stoves, refrigerator/freezer. Commercial spaces consist of one roughly 800 sq. ft. space that is occupied by a women's clothing store that has been in business at this location for 5 years and has a solid financial track record. Larger commercial space is 1,650 sq. ft. and is currently vacant - was rented as office space for $2,600 per month and as a wellness center. Currently for lease and drawing interest at $2,500/month (market rent). Among Baltimore investment properties, this is a gem - very little maintenance required, new roof in 2006, entirely updated residential spaces and excellent office/retail spaces. Neighborhood Description Booming retail/commercial area - Fells Point is an ideal location for an office or retail establishment. Building get plenty of foot traffic.
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