19 E Fayette St
Baltimore, MD 21202
Walgreens Condo | 24/7 Urban Location! · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer for sale this rare urban net leased Walgreens, only blocks from Baltimore’s Inner Harbor waterfront. Prominently located at the corner of East Fayette and Saint Paul Streets, this ground floor condominium unit provides an exceptional location for the tenant’s business. It offers 24-hour-per-day pedestrian and vehicular traffic as it is situated in the City’s Central Business District (CBD). The property is surrounded by numerous residential developments, dozens of class “A” office buildings, hotels, and is merely 50 yards from a subway stop. Walgreens has occupied this location since 2000 and most recently recommitted to this location by extending for an additional seven years of term. Further, Walgreens acquired the Rite Aid location located at 125 East Baltimore Street, one block southeast and subsequently closed the Rite Aid. The former Rite Aid store sales should partially flow to the subject location and help boost sales moving forward. Reported store sales on this Walgreens are available from listing agent. When coupled with the 2,100+ apartment units that are planned to open in a one quarter mile radius of this site, it is unlikely Walgreens will ever close this location. The Chicago Title Insurance Building (in which this condominium is located) was constructed in the mid 1940’s and has charming historic-looking architecture. The building was subsequently renovated in the mid-1990’s into its current form which consists of 47,687 square-feet of total space including three stories of office space. Walgreens occupies 9,453 square-feet of space on the first floor, which has ceiling heights of approximately 30 feet with some of the building’s original moldings. There is loading in the rear and a freight elevator that services the 1,817 square-feet of below grade space that the Tenant utilizes for storage.