316 S Broadway, Baltimore, MD 21231

Description

The property currently averages $1,300 per residential unit, below the projected market rent of $1,962, creating significant income growth potential through residential repositioning. Additional upside comes from leasing the vacant commercial space at a projected market rate of $2.27/SF. At Year 1 stabilization, the property is projected to generate $77,234 in NOI, equating to a 16% cap rate, increasing to 17% by Year 5 through contractual rent escalations. Achieving these returns will depend on successful residential repositioning and commercial lease-up.

The two-story mixed-use property includes two residential units totaling approximately 2,240 SF and one vacant 3,520...