Listing Summary

Value Add Opportunity for an owner-user or investor. The 3-story structure was built in 1920. The first floor of 1,725 square feet is leased to a retail tenant.

Full Description

Opportunity Zone Investment: 3,465 SF Value-Add Office & Retail Building in Perkins Somerset Oldtown

The Opportunity: High-Upside Mixed-Use Investment

Discover a premier real estate opportunity positioned at the epicenter of urban revitalization. This historic three-story building, originally constructed in 1920, represents the quintessential value-add project for an owner-user looking to establish a custom headquarters or an investor aiming to maximize yield in a high-growth corridor.

Located within the Perkins Somerset Oldtown (PSO) Transformation District, this property is more than just a building—it is a strategic asset. It sits within both a federal Opportunity Zone and a local Enterprise Zone, offering a unique suite of tax incentives, credits, and capital gains benefits that significantly enhance the long-term ROI.

Income Stability & Development Potential

At a highly competitive price point of just $85 per square foot, this 3,465-square-foot structure offers a balanced profile of immediate cash flow and "blank canvas" potential:

• Ground Floor (Income-Generating): The 1,725-square-foot first floor is currently leased to an active retail tenant, providing immediate rental income to offset carrying costs while you renovate the levels above.

• Upper Floors (Ready for Vision): The two upper floors, totaling approximately 1,740 square feet, have been completely gutted to the studs. This shell condition is perfect for a custom executive office suite, creative studio, or luxury urban apartments.

• Flexible Zoning: With its C-2 (Community Commercial) designation, the property is incredibly versatile. It is legally suited for retail, professional office space, or residential conversions.

Superior Structural Condition & Modern Upgrades

While the building maintains its historic 1920s soul, all the critical "heavy lifting" infrastructure work has been completed by the current owner:

• New HVAC System: Enjoy the efficiency and peace of mind that comes with a brand-new climate control system.

• New Roof: The building is topped with a recently installed roof, ensuring a dry and protected environment for your interior renovations.

• Restored Masonry: The classic brick exterior has been meticulously re-pointed, restoring its architectural beauty and ensuring structural durability for decades to come.

• Seller-Contractor Partnership: To simplify the renovation process, the seller is a licensed contractor willing to complete the interior buildout to the new owner's exact specifications and business requirements.

Investment Highlights

• Incredible Value: Offered at only $85/SF, well below replacement cost for a brick structure of this caliber.

• Strategic Incentives: Fully eligible for the lucrative benefits of the Enterprise and Opportunity Zone programs.

• Prime Transformation District: Benefit from the massive public and private capital currently flowing into the Perkins Somerset Oldtown area.

• Mixed-Use Versatility: Zoned C-2, allowing for a creative blend of retail on the bottom and office or residential on the top.

• Turnkey Buildout Opportunity: Purchase at an affordable price and leverage the seller's expertise to design a bespoke interior layout.

Detailed Property Specifications

This is your chance to stop paying rent and start building equity in a standalone building that pays for itself. Whether you're growing a business or a portfolio, this Perkins Somerset Oldtown gem is the perfect foundation for your success.

Complete Details

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