519 N Charles Street

Description

Two separate lots; sold together. 519-521 North Charles Street is a prime mixed-use building offering both retail and office space, situated in the upscale neighborhood of Mount Vernon, just half a block from the iconic Washington Monument. With a 92% occupancy rate, the building benefits from good foot traffic and is surrounded by a variety of shops and businesses, making it a solid investment in a well-established community. 19-521 North Charles Street consists of two interconnected buildings, offering a combined total of over 17,000 square feet of versatile space. The commercial suites are customized by tenants to suit their individual needs, with some tenants leasing multiple suites. The property currently hosts a diverse mix of businesses, including three salons, two offices, one large retail space, and one vacant suite. Additionally, there is one apartment on the premises. Several suites feature kitchenettes, and all have half baths, with one suite equipped with a stand-up shower.A notable tenant, Paris West Optical, has been in business for 65 years and has called this building home since 2006. Their current lease runs through 2033. 519-521 North Charles Street demonstrates strong stability with long-term tenants like East Coast Asset Group (since 2008) and All Pro Glass (since 2007). The salons are equipped with shampoo bowls and pedicure stations, providing complete setups for beauty services. Some of the top-floor offices feature a loft-style design, adding a unique and appealing touch to the workspaces. The property maintains a high occupancy rate, with only one unit currently vacant. Recent tenants, including TreAmor Studio LLC (since May 2023) and Focus Advertising & Marketing, Inc. (since November 2023), indicate ongoing attractiveness. The average length of tenancy is approximately 8.42 years, further highlighting the propertys stability.The spacious 1-bedroom with den apartment is located on the top floor and includes a combination washer/dryer for the tenants convenience. The kitchen is equipped with durable laminate cabinets and counters, as well as a 24 electric range. The bathroom features a wall-mounted sink and a steel tub with a ceramic tile tub surround. The apartment also has new, easy-to-clean laminate flooring. 519 North Charles has 8 electric meters, with 150 amps serving each unit, and 2 gas meters that do not appear to be active. 521 North Charles has 4 electric meters, with 200 amps serving each unit. The office and retail suites have individual heat pumps and central air conditioning, while the apartment is equipped with mini-splits for heating and cooling. Each building has its own electric water heater. Tenants pay their own electric bills directly to the provider, simplifying management. Observable supply pipes are copper and observable drain lines are PVC. Mount Vernon is an ideal location for commercial tenants and investors, boasting impressive accessibility and significant cultural landmarks. The area features a Walkers Paradise score of 99 and a Riders Paradise score of 100, ensuring excellent transit options for employees and clients. Baltimore Penn Station, just a few blocks away, serves as the citys main rail hub with Amtrak and MARC train services. The ongoing redevelopment of Penn Station aims to accommodate new commercial ventures and improve high-speed rail connections, positioning Baltimore as a premier stop for travelers and enhancing the neighborhoods economic growth.The strategic location offers easy access to major highways, with I-83 just two blocks north and I-95 less than 15 minutes away, providing convenient travel options for business operations. The area is an attractive location for businesses looking to benefit from the vibrant and bustling environment.