One North Charles 1 N Charles St 290,423 SF 40% Leased 4-Star Office Building Baltimore, MD 21201 $3,000,000 ($10.33/SF)

One North Charles, located at 1 N Charles Street in Baltimore, Maryland, presents a value-add investment opportunity within a prominent 25-story high-rise office tower totaling approximately 290,423 square feet. Positioned at the highly visible intersection of Charles Street and Fayette Street, the property stands as a landmark institutional asset within Baltimore’s Central Business District.

Originally constructed in 1962 by the founder of Amoco Oil and representing one of Baltimore’s first modern high-rises, the building was formerly known as The Blaustein Building. The landmark tower was designed by renowned modernist architect Ludwig Mies van der Rohe, whose iconic design helped shape the city’s downtown skyline and redefine modern commercial architecture in Baltimore. In 1963, the building received its first Honor Award recognizing its architectural significance. The property features approximately 25 office floors with efficient floor plates ranging from roughly 10,000 to 11,000 square feet. The tower is currently approximately 40% occupied by a diverse tenant mix including professional services firms, nonprofit organizations, and small office users, generating effective gross income of approximately $1,625,244 and presenting substantial upside through lease-up or repositioning.

Extensive capital improvements, including a $10 million renovation, enhanced the plaza, lobby, common areas, restrooms, and building systems while introducing a state-of-the-art security system and refined finishes such as travertine marble throughout the lobby and mezzanine. Planned amenities such as a fitness center and conference facility, along with existing on-site cafés, professional management, six passenger elevators, and approximately 30 on-site parking spaces, further support the building’s positioning as a flexible institutional asset capable of supporting multiple business strategies.

The property is also pursuing LEED certification, reinforcing a commitment to efficient and sustainable operations. With adaptable floor plates and a central core configuration, the building offers strong potential for repositioning through traditional office lease-up, flexible office conversion, multifamily or student housing redevelopment, hospitality or extended stay concepts, or broader mixed-use redevelopment strategies. The offering allows investors to acquire a nearly 290,000-square-foot downtown tower at a base well below replacement cost.

Situated in the heart of Baltimore’s Central Business District, One North Charles benefits from exceptional connectivity and a highly walkable urban environment. One North Charles sits within walking distance of Baltimore Inner Harbor and Charles Center, placing the building at the center of the city’s business activity. The location provides direct access to the Baltimore Metro Subway, Light Rail, and numerous bus routes. Major transportation corridors including Interstates 83 and 95 are easily accessible, supporting seamless regional connectivity. The property is also positioned within walking distance of the University of Maryland Baltimore campus, Johns Hopkins downtown facilities, and numerous government offices, financial institutions, and major employers that anchor the CBD. Surrounding amenities include the Baltimore Convention Center, University of Maryland Medical Center, Lexington Market, and a wide range of restaurants, retail destinations, and entertainment venues that contribute to a vibrant and active downtown environment.

Baltimore’s Central Business District continues to attract sustained investment and tenant demand supported by strong demographic and economic fundamentals. Ongoing development and revitalization throughout Harbor East, the Inner Harbor, and the Pratt Street corridor continue to enhance the area’s appeal as a destination for professional services firms, government agencies, healthcare organizations, and educational institutions. Within a three-mile radius of the property, the surrounding population exceeds 264,000 residents with daytime employment of more than 208,000 and over 26,500 businesses operating in the area. More than 35% of residents hold a bachelor’s degree or higher, creating a deep and highly skilled workforce that supports long-term corporate and institutional growth. With no significant new office supply currently under construction and rental rates increasing approximately 6.8% over the past five years, the downtown office market continues to present strong fundamentals for value-add investors.

Seller financing is available for qualified buyers. Inquire about additional information regarding seller financing structure and purchase terms. Contact Andrew Stein and the Vanguard Private Client Group today to schedule a tour and learn.