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Bankruptcy Sale | Value-Add Retail 3226-3238 Greenmount Ave 17,952 SF 84% Leased Retail Building Online Auction Sale Baltimore, MD 21218
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Waverly Shopping Center presents savvy investors with the chance to acquire a value-add property for a lease-up at market rates.
- Situated in a retail corridor one block from Giant Food and close to Papa John’s Pizza, Pete’s Grill, Subway, and more.
- Baltimore provides top-notch demographics with a strong population and average consumer spending in a 3-mile radius exceeding 2.74 billion annually.
- Boasting a highly visible location along Greenmount Avenue and 33rd Street, which sees over 23,000 vehicles per day.
- Positioned just north of downtown near major points of interest such as Johns Hopkins University and the Inner Harbor.
EXECUTIVE SUMMARY
Waverly Shopping Center offers investors and owner/users the chance to acquire a cash-flowing center with excellent potential.
3226-3238 Greenmount Avenue is strategically located at the prominent intersection of Greenmount Avenue and 33rd Street. The center comprises eight retail and restaurant units, offering 17,952 square feet across a single-level layout for convenient access by both customers and tenants. Situated on a 0.53-acre lot, the property efficiently maximizes available space and features a distinctive, well-maintained façade that draws clientele. The building is occupied by eight synergistic tenants, including Lux Nails, China Express, Quick Mart, Boost Mobile, B5 Seafood Carry Out, AD Smoke Shop and Sakura Teriyaki. In 2021, the property underwent substantial improvements such as roof replacement, upgrades to HVAC and electrical systems, and enhancements in plumbing, framing, drywall, and flooring. Prospective buyers have an opportunity to increase net operating income by leasing vacant units at market rates, thereby achieving full occupancy.
Waverly Shopping Center enjoys a prime location in Baltimore, offering convenient access to numerous attractions and amenities. The property is within walking distance of Johns Hopkins University, making it appealing to commuters traveling to and from the hospital. MedStar Union Memorial Hospital is situated nearby. A wide array of retail establishments surrounds the shopping center, drawing visitors and fostering a vibrant atmosphere. The proximity of the farmers market enhances the local environment, creating an inviting weekend destination for residents and guests alike. Positioned just north of Downtown Baltimore, the property provides easy access to the city's offerings. Major roadways, including the James Falls Expressway, Interstate 95, and other key transportation routes, ensure excellent connectivity to and from the shopping center.
Baltimore is a resilient East Coast market that appeals to both investors and owner/users. The city attracts people with its world-class healthcare and educational institutions, vibrant culture and history, strategic regional access, and relatively affordable cost of living. Major employers headquartered in Baltimore, Maryland, include T. Rowe Price, Constellation Energy, Legg Mason, H&S Bakery, and McCormick & Company.
Property tours are available by appointment only. Please contact the listing broker to schedule.
3226-3238 Greenmount Avenue is strategically located at the prominent intersection of Greenmount Avenue and 33rd Street. The center comprises eight retail and restaurant units, offering 17,952 square feet across a single-level layout for convenient access by both customers and tenants. Situated on a 0.53-acre lot, the property efficiently maximizes available space and features a distinctive, well-maintained façade that draws clientele. The building is occupied by eight synergistic tenants, including Lux Nails, China Express, Quick Mart, Boost Mobile, B5 Seafood Carry Out, AD Smoke Shop and Sakura Teriyaki. In 2021, the property underwent substantial improvements such as roof replacement, upgrades to HVAC and electrical systems, and enhancements in plumbing, framing, drywall, and flooring. Prospective buyers have an opportunity to increase net operating income by leasing vacant units at market rates, thereby achieving full occupancy.
Waverly Shopping Center enjoys a prime location in Baltimore, offering convenient access to numerous attractions and amenities. The property is within walking distance of Johns Hopkins University, making it appealing to commuters traveling to and from the hospital. MedStar Union Memorial Hospital is situated nearby. A wide array of retail establishments surrounds the shopping center, drawing visitors and fostering a vibrant atmosphere. The proximity of the farmers market enhances the local environment, creating an inviting weekend destination for residents and guests alike. Positioned just north of Downtown Baltimore, the property provides easy access to the city's offerings. Major roadways, including the James Falls Expressway, Interstate 95, and other key transportation routes, ensure excellent connectivity to and from the shopping center.
Baltimore is a resilient East Coast market that appeals to both investors and owner/users. The city attracts people with its world-class healthcare and educational institutions, vibrant culture and history, strategic regional access, and relatively affordable cost of living. Major employers headquartered in Baltimore, Maryland, include T. Rowe Price, Constellation Energy, Legg Mason, H&S Bakery, and McCormick & Company.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
Market Matterport Tour
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OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
17,952 SF
Building Class
C
Year Built/Renovated
1920/1984
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.78
Lot Size
0.53 AC
Parcel Number
3882-012
Zoning
B023 - C3 Commercial
Parking
10 Spaces (0.56 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Restaurant
- Signage
- Tenant Controlled HVAC
- Air Conditioning
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (76)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
38,241
266,959
563,019
2020 Population
39,727
266,016
574,330
2029 Population
36,857
259,574
546,060
2024-2029 Projected Population Growth
-3.6%
-2.8%
-3.0%
Daytime Employees
16,562
202,288
344,380
Total Businesses
2,535
24,186
40,917
Average Household Income
$79,481
$75,463
$84,648
Median Household Income
$57,179
$52,749
$58,553
Total Consumer Spending
$421.3M
$2.7B
$6.2B
Median Age
34.7
37.1
37.3
2024 Households
17,476
117,846
241,097
Percent College Degree or Above
18%
16%
17%
Average Home Value
$264,748
$252,354
$270,727
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
David Lowry, Director, Commercial Accelerated Sales
David is an accomplished Director of Commercial Accelerated Sales for RealMarkets, a CENTURY 21 New Millennium Team. With over 20 years of experience in Commercial Real Estate, David is a well-known expert in this field. He has worked with esteemed platforms such as Ten-X, and has assisted both institutional and non-institutional sellers and brokers in the sale of real estate transactions.
David has played a crucial role in identifying over $1B in online commercial real estate opportunities across various asset classes, such as office, multifamily, retail, hospitality, industrial, and land. During his tenure as the Senior Director at Ten-X, he ensured a high sell-through rate of 98%, which is one of the highest trade rates in the online auction industry. Before joining the RealMarkets Team, David served as the Head of National Accelerated Marketing for Coldwell Banker Commercial (CBC).
As a specialist in accelerated commercial sales, David's mission is to assist brokers, lenders, owners, and buyers in attaining their objectives with ease, efficiency, and transparency. His expertise in accelerated sales strategies and CRE technology makes him a valuable asset in navigating the dynamic landscape of commercial real estate. David's proficiency in strategic planning, market analysis, and online marketing, coupled with his excellent communication and negotiation skills, has made him the go-to person for online commercial real estate transactions.
David has played a crucial role in identifying over $1B in online commercial real estate opportunities across various asset classes, such as office, multifamily, retail, hospitality, industrial, and land. During his tenure as the Senior Director at Ten-X, he ensured a high sell-through rate of 98%, which is one of the highest trade rates in the online auction industry. Before joining the RealMarkets Team, David served as the Head of National Accelerated Marketing for Coldwell Banker Commercial (CBC).
As a specialist in accelerated commercial sales, David's mission is to assist brokers, lenders, owners, and buyers in attaining their objectives with ease, efficiency, and transparency. His expertise in accelerated sales strategies and CRE technology makes him a valuable asset in navigating the dynamic landscape of commercial real estate. David's proficiency in strategic planning, market analysis, and online marketing, coupled with his excellent communication and negotiation skills, has made him the go-to person for online commercial real estate transactions.
Stephen Karbelk, Director/Partner
Starting in the real estate business in 1992, Stephen has had the opportunity to sell nearly every type of property you can sell. Whether it’s a large commercial property, luxury residential real estate or ranch land, Stephen has sold it before. Stephen has published over a dozen articles, ghost authored industry White Papers and has been a featured speaker at professional conferences. Stephen is an expert in the sale of real estate for Bankruptcy Trustees, Debtors, Attorneys and Short Sale Sellers. Stephen and the RealMarkets team is affiliated with Century 21 New Millennium and Century 21 Commercial. <br><br>Professional memberships:<br>Member, National Association of Realtors<br>Member, Virginia Association of Realtors<br>Member, Northern Virginia Association of Realtors<br>Member, Turnaround Management Association<br>Member, American Bankruptcy Institute<br>Member, National Association of Bankruptcy Trustees<br>Member, Belmont Country Club, Ashburn, Virginia
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Vibhav Kapila RE Brkr 660150
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOURS
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Bankruptcy Sale | Value-Add Retail | 3226-3238 Greenmount Ave
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Bankruptcy Sale | Value-Add Retail | 3226-3238 Greenmount Ave
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