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663 W Pratt St 6,177 SF Retail Building Baltimore, MD 21201 $1,200,000 ($194.27/SF)

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INVESTMENT HIGHLIGHTS

This is a unique, solid Historic Property. It has so much potential in a great location with abundant public parking & great foot traffic.

EXECUTIVE SUMMARY

There are many possibilities with this historic landmark property ready for a new lease on life. It was originally three large Federal Period townhouses on a prominent corner. 663, 665 W. Pratt St. and 203 Penn were merged onto one deed. Located in the National Historic District of Ridgley's Delight, it may qualify for Federal and local historic tax credits available for historic restoration of the property. Currently only about one third of the property is being used. This part of the building is an attractive well maintained and popular restaurant and carry out. It seats almost 100 guests and has lots of room for expansion. It has been operated by the same family since they opened it, about fifty years ago. The potential conversion spaces are structurally sound, secure, mostly gutted and ready for your fantasy. Please review the attached photos and floor plans. There are two convenient public parking garages just across the street. A significant, supportive neighbor is The University of Maryland and Hospital, which begins just across the street. The regional VA hospital is also a nearby neighbor. The Ridgley's Delight Historic community is a fine residential neighborhood. As a restaurant, this location is very attractive to a walk in trade. It is also located in the Stadium District as Camden Yards and Camden Station are just a few blocks to the East. The Ravens Stadium is also just a short walk. Its C 1 zoning allows many uses. If a restaurant is not your thing, many other uses are permitted, including most retail, offices, including medical, day care, services, residential and mix uses and more. As a restaurant, this property is turn-key. While its historic status requires this building to be retained and preserved, its C 1 zoning would allow building over it to a height of 100 ft with special permission. Such a project was recently completed near the corner of W. Pratt and Fremont. This could also be an opportunity to "Live Where you Work." While this location is great, its future is even greater. University of Maryland continues to grow. Walk to nearby Camden Station for a short commute to BWI Airport and D.C. The possibilities for this property are endless!