Property ID : Greenmount3010
Sold Comp $755,000.00 - Commercial, Retail Stores
100% Leased to stable, local, long-term tenants, producing solid cash flow. Owning this property in the Waverly Business District is a great candidate to produce solid investment returns for many years. The store fronts were refurbished in 2007. Each store interior was updated with new heating and air conditioning systems, flooring, ceiling, and bathrooms within the last 9 years.
The Waverly Shopping District is home to the very popular Waverly Farmer’s Market, held every Saturday morning, year-round, from 8 a.m. to 12 noon. This farmers market has a 4.5 rating on Yelp and a 4.8 rating on Google.
This shopping center has 4 tenants: A Day Care Center, located here since 2007; a Pizza Carryout, located here since 1998; a church located here since 2014 and a local convenience store which opened in 2011. Each lease is triple-net with the tenant paying their own utilities, property taxes, and building insurance.
Sturdy 1950 brick over block construction with each store having a new roof in the last 7 years.
In addition to the 17,800 vehicles that pass this location each day, it is located on the #8 Bus Line, which is the most popular and most heavily travelled bus line in Baltimore.
$225,000 Per Unit
$103 Per Square Foot of Building Area
$8,537 Current Actual Monthly Rental Income
8.8 GRM (Gross Rent Multiplier)
7.9 Cap Rate