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B E C K E R B R O T H E 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY SALE OPPORTUNITY 11 E. MT. ROYAL AVE AND 7 E. PRESTON ST BALTIMORE, MD 21201 36,500+/- GROSS SQUARE FOOT RECENTLY REDEVELOPED OFFICE AND RETAIL BUILDING WITH ELEVATOR AND 37 PARKING SPACES BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY INVESTMENT OPPORTUNITY: Built in 1920, 11 E Mount Royal Avenue previously served as a Zell Motor Car Company showroom and dealership. Today, the building is being Redeveloped and is offering ground level Retail units, traditional Office suites, 22 Coworking office suites, and a Penthouse office suite with a rooftop deck that offers sweeping city views. Modern renovations will showcase the elegant historic features of this downtown Baltimore landmark. 11 E Mount Royal is located on the bustling Mount Royal Ave just minutes from Penn Station, The University of Baltimore and across the street from The John and Frances Angelos Law Center. The building is situated in the Mt. Vernon Cultural District, a neighborhood widely considered as the Cultural and Arts epicenter in Baltimore City. Mt. Vernon is one of Baltimore's oldest and well-preserved neighborhoods and is designated as a National Historic Landmark District. Major employers in the neighborhood include: Chase Brexton Health Services, the University of Baltimore, and Agora Inc. Mt. Vernon’s central location in Baltimore City, as well as accessibility to public transportation and main city thoroughfares, makes it easily accessible to Downtown Baltimore, Johns Hopkins University, Johns Hopkins Hospital, and the suburbs of Baltimore City. Mt. Vernon remains one of the most densely populated areas in Baltimore City, with a wide array of housing options for residents. It is close to Routes 83, 95, 40, MARC train, Amtrak, light rail and public transportation. Some of the surrounding cultural attractions include: The Meyerhoff, The Lyric, Walters Art Museum, The Peabody, Center Stage, School for the Arts, MICA, Charles Theatre, Parkway Theatre and Station North Arts & Entertainment District. The building currently has several office tenants, retail tenants and 37 designated parking spaces. The total purchase price of both properties is $4,500,000. 11 E. Mt Royal Ave Property with 36,500 +/- gross SF Price: $ 3,760,000 7 E. Preston St Property with 37 Parking Spots Price: $740,000 **Must be sold together** Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY BUILDING AND PARKING LOT FACTS AND HIGHLIGHTS: ▪ Zoning: C-2 ▪ Fully renovated and remodeled interior 70% completed with the intention of converting it to a multi-tenanted office and retail building ▪ Approximately $500,000 invested to redevelop the property (breakdown of expenses available) ▪ 37 parking spaces at 7 E. Preston St currently. Also, C-2 zoning which allows for 37 apartment unit development. ▪ Has an elevator with access to all floors. MOUNT VERNON INVESTMENTS AND LOCATION HIGHLIGHTS: ▪ University of Baltimore’s $23.8M 58,220 SF library redevelopment nearing completion. ▪ Nelson Kohl Apartments, a 103 Unit, $25M multi-family development in Station North just north of Penn Station recently completed. ▪ Mt. Vernon Tooth N Nail Café opening at 7 W. Preston St. ▪ Walking distance to MV Fitness—consistently voted one of Baltimore’s top gyms. ▪ Located blocks from the two Annie E. Casey Headquarters (approx. 100,000 sq ft). ▪ The Agora is a growing network of companies currently occupying 12 buildings in Mt. Vernon with 800 employees ▪ $18.2M Parkway Theatre in Station North recently opened and thriving at corner of Charles St and North Ave ▪ Open Works, 34,000 SF makerspace for Start Ups is thriving in Station North ▪ Close to The Elephant Restaurant and Lounge (formerly The Brass Elephant) which has been voted one of Baltimore’s Best ▪ Baltimore’s Artscape Festival is thrown annually at Charles St and Mt. Royal Ave (and surrounding areas). Considered the largest Free Arts Festival in the Country. ▪ Pizzeria with ties to Dooby’s Owner opening at the Fitzgerald apartment building at 1203 W. Mount Royal Ave. ▪ Amtrak selects Beatty Development for 107 yr old Penn Station’s Multi- million dollar approx. 1.6M SF mixed use redevelopment ▪ Center Stage recently completes $28M Renovation ▪ Enoch Pratt Central Library close to completing $115M Renovation ▪ Time Group’s Mount Vernon Centre development expected to total $100M when completed currently consists of 450 Units(500 & 520 Park Ave) which are 95%+ occupied Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY MOUNT VERNON INVESTMENTS AND LOCATION HIGHLIGHTS CONT’D: ▪ Mt. Vernon Marketplace at 500 Park Ave is a thriving Food Hall with approx. 15 food venues ▪ Joie de Vivre’s 107-room Hotel Revival completed along with two restaurants (Square Meal and Topside) at 101 W. Monument St. ▪ University of Maryland Medical Center’s Midtown Campus is building a 13 story, $116M patient care tower ▪ $19M redevelopment of Centre Theater in Station North on 10 E. North Ave is thriving. ▪ Developer Zahlco completes 50 Unit luxury apartment development at 824 N. Calvert St. ▪ Developer Dennis Richter’s $35M 10-story 126-unit apartment and retail project at the corner of Eager and Cathedral streets approved by Commission for Historical and Architectural Preservation. ▪ ASH NY purchases the Latrobe Building and plans to convert it into a Boutique Hotel. ▪ The 435,000+ square foot Baltimore Sun building was purchased by Atapco Properties. They are planning on converting it into a theater, grocery store, hotel, offices, recreation, etc. Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY View from Rooftop Deck Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY 3rd Floor Front CoWorking Conference room Penthouse Level Lounge Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY Penthouse Conference Room or Office Penthouse Room with Deck Outside Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY Penthouse Reception Desk INTERESTING BUILDING HISTORY: The first block of East Mount Royal Avenue was once home to the movie star Francis X. Bushman, a Baltimore native who played Messala in the 1925 version of Ben-Hur and lived in the penthouse of what is now the Towne Building. The Zell Motor Car Company, a Packard dealership, occupied the building’s first level and advertised with a large sign on the roof. Now Bushman’s former home at 11 E. Mount Royal Avenue is about to be reborn as part of Baltimore’s next mixed-use development, serving people who want to live and work in midtown Mt. Vernon, close to the University of Baltimore campus, Penn Station and Station North. Francis X. Bushman BIO: https://en.m.wikipedia.org/wiki/Francis_X._Bushman Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY Postcard of The Former Zell Motor Car Co Rendering of the 65 Unit Apartment Building that is being Developed Next Door Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. 11 E. Mt. Royal Ave and 7 E. Preston St, Baltimore, MD 21201 EXECUTIVE SUMMARY Although believed to be accurate, the above information is not guaranteed by Broker BYRNES & ASSOCIATES, INC. .
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