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$1,600,000
HIGHLIGHTS: C-1 Zoning Allows for the Development of 59 Dwelling Units By-Right, with No Off-Street Parking Requirements; Located in an Opportunity Zone, Providing Significant Tax Benefits like Tax Deferral and Tax Reduction; Located in an Enterprise Zone, Potentially Offering Favorable Tax Rates, Regulatory Exemptions and Other Incentives; Less Than 1/2 Mile To Downtown Baltimore, 1 Mile to Johns Hopkins Hospital or The Inner Harbor & Quick Access to I-83. 17,840 square feet, comprised of 6 legal lots, with 167′ feet of frontage along North Gay Street, and additional frontage along North High Street and North Exeter Street. Includes 331-343 North Gay Street, 323 North High Street and 327 North High Street. Lot 014 expands into a 2,040 square foot building that fronts North Exeter Street. C-1 Zoning allows most retail and office uses and no off-street parking requirements. By-right, 59 dwelling units can be built on these sites. 327 and 323 North High Street are part of the site; note that 325 North High Street is a separate lot, privately owned, and not a part of the package. This Baltimore City development opportunity is located in both an Opportunity Zone and an Enterprise Zone, allowing investors to see deferred taxes, favorable tax rates and savings, as well as other incentives. The site is sandwiched between major private and public sector employers, with the main USPS branch of Baltimore City to the South and the Baltimore City Juvenile Justice Center across the street. MCVet, a nonprofit Veteran assistance program, is located on the west end of North High Street. Major traffic routes like Route 40 (Orleans Street), President Street, and I-83 are accessible within a 3-block drive, allowing for easy commutes anywhere in the City, as well as points North. The intersection of East Fayette and President Street, where I-83 ends, sees 62,211 vehicles per day. Major developers are part of the Perkins/Somerset/Oldtown Transformation Plan, revitalizing 244 acres, spanning three neighborhoods, which is nestled directly between the subject property and the Johns Hopkins Hospital. This $860 million dollar project will include mixed-income housing, multi-family housing, office/retail space, a public school, hotel and 500 parking spaces. 331-343 North Gay offers huge upside potential, given nearby activity and tax incentives.

331 N Gay St, Baltimore

Listing courtesy of Ben Frederick Realty, Inc.. Contact: 4102359500

$595,000
Located less than 1,000 feet from the bustling intersection of York Road and Northern Parkway, this development opportunity benefits from a prime location with a daily traffic flow of 13,800 vehicles. The intersection of Northern and York sees traffic counts as high as 28,000 daily. Situated on the side of the street where commuters head home, it offers convenient access to York Road, a major north/south thoroughfare connecting northern Baltimore City with central Baltimore County. Adding to its allure, the historic Senator Theatre stands proudly across the street, serving as a magnet for visitors from all corners of the globe. Belvedere Square, one block north, attracts over 10,000 visitors a week with its mix of restaurants, shops and hosted events. Comprising three legal lots, the C-2 zoning classification offers a versatile array of potential uses, encompassing multifamily dwellings, retail spaces, restaurants, or office establishments. The property boasts an impressive 200 feet of frontage along York Road, facilitating visibility and accessibility. It further benefits from utility connections, including a 10-inch water supply connection on York Road and an 8-inch sewer connection located in the rear alley. Under “By-Right” provisions, a developer possesses the potential to construct up to 120 apartments on this site, with no parking requirements. The property’s elevation relative to the York Road sidewalk ranges from approximately 3 feet on the southern end to 6 feet on the northern end. It is worth noting that, as part of a Planned Urban Development (PUD), certain usage restrictions apply that may deviate from the typical allowances under C-2 Zoning regulations. The seller is in talks with the community about removing the PUD; call us for details.This development opportunity lies within a three-mile radius of five prestigious colleges and universities, positioning it as an ideal choice for off-campus housing, tapping into the substantial disposable income of this demographic. Within a 15-minute drive time, a thriving community boasts 212,121 households and a population of 455,655 individuals, as per the 2020 Census. The York Road Corridor serves as a retail hub, anchored to the south by prominent retailers like Staples and extending an impressive three miles north to the ever-popular Towson Town Center. Here, you’ll find a blend of national giants such as Giant Foods, Chipotle, Panera, and PetCo, alongside local businesses like Ayd Hardware, a family-owned establishment that has proudly served the community since 1974. Convenient transportation access is another highlight, with swift connectivity to I-83 for travel north or south achievable within a mere ten minutes. Furthermore, 5837 – 5841 York Road enjoys a location along the CityLink Red bus line, recognized as the most heavily utilized MTA bus route, ensuring effortless accessibility for both residents and visitors alike.

5837 York Rd, Baltimore

Listing courtesy of Ben Frederick Realty, Inc.. Contact: 4102359500

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