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628 N Chester Street

BALTIMORE, MD 21205
  • $195,000
  • STATUS: Active
  • ON SITE: 40 Days
  • ID#: MDBA2045676
UPDATED: 49 min ago
$195,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1800
County:

School Ratings & Info

Description

Located a short two blocks from the ever-expanding Johns Hopkins Hospital, 628 North Chester Street offers instant cash flow and an excellent opportunity for future value. A restaurant leases the building, and wishes to sign a long-term 5-year lease with the consent of a new owner.628 North Chester Street is a 3-story brick building with C-1 Community Commercial zoning. C-1 zoning allows a wide range of flexible business uses, including food service, retail, office, and residential.The building is comprised of a Jamaican restaurant on the first floor; an unused apartment on the second floor; and an apartment used by the restaurant tenant on the third floor. An unfinished basement houses the utilities.The building has two gas meters, and one electric meter with 200 amp service. Visible plumbing supply lines are copper, with a copper water main. Heat is provided by a gas-fired high efficiency Sears forced air furnace. Two water heaters provide hot water to the restaurant and upstairs apartments.The tenant pays for all gas, electric, and water/sewer usage.628 North Chester Street has vinyl replacement windows throughout, and a rubber roof.A short two-block walk to the west is Johns Hopkins Hospital, rated #1 hospital in Maryland and #4 in the nation. 628 North Chester Street sits on the border of the Northeast Market, home to many small mom-and-pop businesses. This area garners plentiful foot traffic and lots of business. 628 North Chester Street earns a WalkScore of 97, a TransitScore of 74, and a BikeScore of 65.Investment Summary: $59 Per Sq. Ft.9.0 Times Actual Rent (GRM)8.8 Times Market Rent (GRM)7.61% Cap Rate9.1% Projected Cash-on-Cash Return

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Gus Anthony Team | Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-06-28T22:50:36.023.
www.thegusanthonyteam.com/homes/128847125
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628 N Chester Street BALTIMORE, MD 21205

  • Price: $195,000
  • Status: Active
  • On Site: 40 Days
  • Updated: 49 min ago
  • ID#: MDBA2045676
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1800
Built
Neighborhood:
Care
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
Located a short two blocks from the ever-expanding Johns Hopkins Hospital, 628 North Chester Street offers instant cash flow and an excellent opportunity for future value. A restaurant leases the building, and wishes to sign a long-term 5-year lease with the consent of a new owner.628 North Chester Street is a 3-story brick building with C-1 Community Commercial zoning. C-1 zoning allows a wide range of flexible business uses, including food service, retail, office, and residential.The building is comprised of a Jamaican restaurant on the first floor; an unused apartment on the second floor; and an apartment used by the restaurant tenant on the third floor. An unfinished basement houses the utilities.The building has two gas meters, and one electric meter with 200 amp service. Visible plumbing supply lines are copper, with a copper water main. Heat is provided by a gas-fired high efficiency Sears forced air furnace. Two water heaters provide hot water to the restaurant and upstairs apartments.The tenant pays for all gas, electric, and water/sewer usage.628 North Chester Street has vinyl replacement windows throughout, and a rubber roof.A short two-block walk to the west is Johns Hopkins Hospital, rated #1 hospital in Maryland and #4 in the nation. 628 North Chester Street sits on the border of the Northeast Market, home to many small mom-and-pop businesses. This area garners plentiful foot traffic and lots of business. 628 North Chester Street earns a WalkScore of 97, a TransitScore of 74, and a BikeScore of 65.Investment Summary: $59 Per Sq. Ft.9.0 Times Actual Rent (GRM)8.8 Times Market Rent (GRM)7.61% Cap Rate9.1% Projected Cash-on-Cash Return
Exterior Features

Construction Materials Brick Garage YN No Other Equipment Some Parking Types None Riparian Rights YN No Roof RubberFlat Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3300.00 Cooling None Exclusions Tenant's Possessions Heating Forced Air Heating YN Yes Inclusions Commercial Kitchen Buildout Net Square Feet 3300.00

Property Features

Acceptable Financing CashExchangeOther Accessibility Features None Assessment Year 2022 Business Type Restaurant/Bar Central Air YN No Cooling Fuel None Electric 200+ Amp Service Heating Fuel Natural Gas Hot Water Multi-TankElectricNatural Gas Lease Considered YN No Municipality Baltimore City Navigable Water YN N Net Operating Income 14842.00 New Construction YN No Number Of Units Total 1 Original MLSNumber 801576815144 Ownership Interest Fee Simple Possession ImmediateSubject To Existing Lease Property Sub Type Retail Sale Type Standard Sewer Public Sewer Tax Annual Amount 1292.00 Tax Assessment Amount 65100.00 Tax Lot 028 Total Actual Rent 21600.00 Transportation Bus Stop Less Than 1 Mile Vacation Rental YN No Water Source Public Zoning C-1 Zoning Description Community Commercial; 1 Restaurant

Listing courtesy of Ben Frederick Realty, Inc..


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Gus Anthony Team | Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-06-28T22:50:36.023.
 
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