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200 N Central Ave 153,477 SF Specialty Building Offered at $7,500,000 in Baltimore, MD 21202
INVESTMENT HIGHLIGHTS
- Recently Upzoned from EC-2 to C-2 | Uses Include Multifamily, Commercial, & More
- Development Incentives Available | OZ, LIHTC, HRTC, NMTC, HUBZone, & Local Programs
- Walking Distance to the Inner Habor, Harbor East, & Johns Hopkins
- Flexible Development Standards | No Maximum FAR | Potential for 500+ Multifamily Units
- Located within the 244-Acre Perkins Somerset Oldtown (PSO) Redevelopment District
EXECUTIVE SUMMARY
Feldman Ruel is pleased to offer for sale 200 N Central Avenue, located along the Central Avenue corridor and in the Pleasant View Gardens neighborhood within the Perkins Somerset Oldtown district of Baltimore, Maryland. The property consists of a five-level, 153,447-square-foot building situated on a 2.73-acre (118,888-square-foot) lot. Originally built in 1923 as Frederick Douglass High School—the first high school for African American students in the state of Maryland—the building was purchased in 2002 and operated as the main campus of Sojourner–Douglas College until its closure in 2015. Current ownership acquired the property in 2023 and completed a rezoning from EC-2 to C-2, enabling a wide range of potential alternative uses. The surrounding area is part of the Perkins Somerset Oldtown Transformation Plan, a long-term initiative to revitalize East Baltimore, particularly around historic housing complexes and market sites. Since 2016, more than $540 million has been invested by federal, state, city, and private sources to support mixed-income housing, office, retail, and community amenities. The site qualifies for an array of incentive programs for both adaptive reuse and new construction. While historically significant, the property is not a designated landmark and may be substantially altered or demolished, allowing for hundreds of thousands of square feet of new development under flexible C-2 zoning with no maximum FAR.
PROPERTY FACTS
| Price | $7,500,000 | Lot Size | 2.73 AC |
| Price Per SF | $48.87 | Building Size | 153,477 SF |
| Sale Type | Investment | No. Stories | 5 |
| Property Type | Specialty | Year Built/Renovated | 1923/1969 |
| Property Subtype | School | Parking Ratio | 0.55/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | C2 - C2 Zoning | ||
| Price | $7,500,000 |
| Price Per SF | $48.87 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | B |
| Lot Size | 2.73 AC |
| Building Size | 153,477 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1923/1969 |
| Parking Ratio | 0.55/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2 - C2 Zoning |
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Walk Score®
Very Walkable (87)
Transit Score®
Rider's Paradise (99)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 1320-001 | Improvements Assessment | $2,874,300 |
| Land Assessment | $832,200 | Total Assessment | $3,706,500 |
PROPERTY TAXES
Parcel Number
1320-001
Land Assessment
$832,200
Improvements Assessment
$2,874,300
Total Assessment
$3,706,500
CONTACTS
-
Josh Feldman -
Christopher Chadwick -
LaMarr Datcher -
Feldman Ruel Urban Property Advisors, LLC
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200 N Central Ave
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