BYRNES & ASSOCIATES, INC

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Transcript of BYRNES & ASSOCIATES, INC

BYRNES & ASSOCIATES, INC.11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
11 E. MT. ROYAL AVE AND 7 E. PRESTON ST
BALTIMORE, MD 21201
WITH ELEVATOR AND 37 PARKING SPACES
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
INVESTMENT OPPORTUNITY:
Built in 1920, 11 E Mount Royal Avenue previously served as a Zell Motor Car
Company showroom and dealership. Today, the building is being Redeveloped and is
offering ground level Retail units, traditional Office suites, 22 Coworking office suites,
and a Penthouse office suite with a rooftop deck that offers sweeping city views. Modern
renovations will showcase the elegant historic features of this downtown Baltimore
landmark.
11 E Mount Royal is located on the bustling Mount Royal Ave just minutes from Penn
Station, The University of Baltimore and across the street from The John and Frances
Angelos Law Center. The building is situated in the Mt. Vernon Cultural District, a
neighborhood widely considered as the Cultural and Arts epicenter in Baltimore City. Mt.
Vernon is one of Baltimore's oldest and well-preserved neighborhoods and is designated
as a National Historic Landmark District.
Major employers in the neighborhood include: Chase Brexton Health Services, the
University of Baltimore, and Agora Inc. Mt. Vernon’s central location in Baltimore City,
as well as accessibility to public transportation and main city thoroughfares, makes it
easily accessible to Downtown Baltimore, Johns Hopkins University, Johns Hopkins
Hospital, and the suburbs of Baltimore City. Mt. Vernon remains one of the most densely
populated areas in Baltimore City, with a wide array of housing options for residents.
It is close to Routes 83, 95, 40, MARC train, Amtrak, light rail and public transportation.
Some of the surrounding cultural attractions include: The Meyerhoff, The Lyric, Walters
Art Museum, The Peabody, Center Stage, School for the Arts, MICA, Charles Theatre,
Parkway Theatre and Station North Arts & Entertainment District. The building currently
has several office tenants, retail tenants and 37 designated parking spaces. The total
purchase price of both properties is $4,500,000.
11 E. Mt Royal Ave Property with 36,500 +/- gross SF Price: $ 3,760,000
7 E. Preston St Property with 37 Parking Spots Price: $740,000
**Must be sold together**
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
BUILDING AND PARKING LOT FACTS AND HIGHLIGHTS:
Zoning: C-2 Fully renovated and remodeled interior 70% completed with the intention
of converting it to a multi-tenanted office and retail building Approximately $500,000 invested to redevelop the property (breakdown
of expenses available) 37 parking spaces at 7 E. Preston St currently. Also, C-2 zoning which
allows for 37 apartment unit development. Has an elevator with access to all floors.
MOUNT VERNON INVESTMENTS AND LOCATION HIGHLIGHTS:
University of Baltimore’s $23.8M 58,220 SF library redevelopment nearing completion.
Nelson Kohl Apartments, a 103 Unit, $25M multi-family development in Station North just north of Penn Station recently completed.
Mt. Vernon Tooth N Nail Café opening at 7 W. Preston St. Walking distance to MV Fitness—consistently voted one of Baltimore’s
top gyms. Located blocks from the two Annie E. Casey Headquarters (approx.
100,000 sq ft). The Agora is a growing network of companies currently occupying 12
buildings in Mt. Vernon with 800 employees $18.2M Parkway Theatre in Station North recently opened and thriving at
corner of Charles St and North Ave Open Works, 34,000 SF makerspace for Start Ups is thriving in Station
North Close to The Elephant Restaurant and Lounge (formerly The Brass
Elephant) which has been voted one of Baltimore’s Best Baltimore’s Artscape Festival is thrown annually at Charles St and Mt.
Royal Ave (and surrounding areas). Considered the largest Free Arts Festival in the Country.
Pizzeria with ties to Dooby’s Owner opening at the Fitzgerald apartment building at 1203 W. Mount Royal Ave.
Amtrak selects Beatty Development for 107 yr old Penn Station’s Multi- million dollar approx. 1.6M SF mixed use redevelopment
Center Stage recently completes $28M Renovation Enoch Pratt Central Library close to completing $115M Renovation Time Group’s Mount Vernon Centre development expected to total
$100M when completed currently consists of 450 Units(500 & 520 Park Ave) which are 95%+ occupied
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
MOUNT VERNON INVESTMENTS AND LOCATION HIGHLIGHTS CONT’D:
Mt. Vernon Marketplace at 500 Park Ave is a thriving Food Hall with approx. 15 food venues
Joie de Vivre’s 107-room Hotel Revival completed along with two restaurants (Square Meal and Topside) at 101 W. Monument St.
University of Maryland Medical Center’s Midtown Campus is building a 13 story, $116M patient care tower
$19M redevelopment of Centre Theater in Station North on 10 E. North Ave is thriving.
Developer Zahlco completes 50 Unit luxury apartment development at 824 N. Calvert St.
Developer Dennis Richter’s $35M 10-story 126-unit apartment and retail project at the corner of Eager and Cathedral streets approved by Commission for Historical and Architectural Preservation.
ASH NY purchases the Latrobe Building and plans to convert it into a Boutique Hotel.
The 435,000+ square foot Baltimore Sun building was purchased by Atapco Properties. They are planning on converting it into a theater, grocery store, hotel, offices, recreation, etc.
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
View from Rooftop Deck
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
Penthouse Level Lounge
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
Penthouse Conference Room or Office
Penthouse Room with Deck Outside
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
INTERESTING BUILDING HISTORY: The first block of East Mount Royal
Avenue was once home to the movie star Francis X. Bushman, a Baltimore native
who played Messala in the 1925 version of Ben-Hur and lived in the penthouse of
what is now the Towne Building. The Zell Motor Car Company, a Packard
dealership, occupied the building’s first level and advertised with a large sign on
the roof. Now Bushman’s former home at 11 E. Mount Royal Avenue is about to
be reborn as part of Baltimore’s next mixed-use development, serving people who
want to live and work in midtown Mt. Vernon, close to the University of
Baltimore campus, Penn Station and Station North.
Francis X. Bushman BIO: https://en.m.wikipedia.org/wiki/Francis_X._Bushman
Although believed to be accurate, the above information is not guaranteed by Broker
EXECUTIVE SUMMARY
Postcard of The Former Zell Motor Car Co
Rendering of the 65 Unit Apartment Building that is being Developed Next Door
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
BYRNES & ASSOCIATES, INC.
Although believed to be accurate, the above information is not guaranteed by Broker
11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201
EXECUTIVE SUMMARY
BYRNES & ASSOCIATES, INC.