Listing Summary

Value Add Opportunity for an owner-user or investor. The 2-story structure was built in 1920.

Full Description

Opportunity Zone Investment: 2,144 SF Mixed-Use Office & Retail Building in Perkins Somerset Oldtown

The Opportunity: A Strategic Value-Add Asset

Presenting a high-potential investment opportunity perfectly suited for an owner-user or a strategic investor. This historic two-story structure, originally built in 1920, offers the ideal "live-work" or "income-plus-equity" scenario. Located in the heart of the Perkins Somerset Oldtown (PSO) Transformation District, this property allows you to plant a flag in one of the city’s most significant areas of urban renewal.

Capitalize on aggressive tax incentives, as the property is situated within both a federal Opportunity Zone and a local Enterprise Zone. These designations offer substantial tax credits and capital gains benefits, making this an incredibly lucrative addition to any real estate portfolio.

Functional Layout & Immediate Income

This 2,144-square-foot building is designed for maximum utility, providing a steady revenue stream alongside a blank canvas for expansion:

• First Floor (Income-Producing Retail): The ground level is currently occupied by an active restaurant tenant, generating $1,500 per month plus expenses. This immediate cash flow helps offset carrying costs while you develop the remainder of the building.

• Second Floor (The Value-Add Shell): The upper level is currently in shell condition, offering a completely open floor plan ready for interior construction. Whether you envision a modern executive office, a creative studio, or a luxury loft apartment, this space is ready for your custom design.

• Versatile Zoning: With C-2 (Community Commercial) zoning, the possibilities are vast. The city allows for retail, professional office, or residential uses, giving you the flexibility to pivot your strategy as the market evolves.

Historic Charm Meets Modern Reliability

While the building carries the architectural prestige of the 1920s, the critical maintenance has been proactively addressed to minimize your move-in or renovation costs:

• Exterior Masonry: The classic brick façade has been professionally re-pointed, preserving the structural integrity and enhancing the building's curb appeal.

• Roofing: The roof is in good condition, providing peace of mind and a dry environment for your interior buildout.

• Expert Buildout Assistance: To streamline your transition, the seller is willing to serve as the general contractor for the new owner. You can purchase the building at an affordable entry price and have a professional team ready to execute your interior design vision immediately.

Investment Highlights

• Affordable Entry Point: Priced at only $128 per square foot, this is a rare opportunity to own a standalone building for less than the cost of many condo units.

• Strategic Transformation District: Benefit from the massive public and private investment flowing into the Perkins Somerset Oldtown area.

• Customizable Interior: The second-floor shell condition allows for a tailored environment that reflects your business brand or personal style.

• Economic Incentives: Maximize your ROI through the lucrative benefits of the Enterprise and Opportunity Zone programs.

Property Specifications

Complete Details

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