$385,000
Excellent opportunity for investors wanting a fully rented commercial property. This well-maintained updated property is zoned Residential/Office in the bustling business district on East Joppa Road in Towson. Conveniently located just over a mile from 695, this property is perfectly positioned for small businesses seeking a high-traffic area.
Currently rented as two separate offices. The lower office rental unit has a private rear entrance with no access to l:Jpper unit to ensure privacy. Features a manager's office with glass doors and an open area large enough to accommodate four to five employees. Includes kitchenette and half bath. LVP flooring and electric baseboard heat. Lower suite is currently rented at $1,000 a month until 6/30/2025. Landlord holds $1,000 security deposit. The lease has an auto renewal option with an escalation clause to $1,100 for the second year and then the auto renew allows renters to renew with a 5% increase per year. Renter needs to give 120 days notice with intention to NON RENEW.
Upper unit entrance is located on E. Joppa Road with a ramp for accessibility. This office space consists of two levels. A reception area/living room with fully functional fireplace and two additional rooms which can be used as offices and/or storage and a half bathroom are located on the first level. Bonus area includes a conference/meeting area and a full kitchen with updated cabinets and appliances. LVP flooring. The top level includes two additional rooms, hardwood flooring, and a full bath. The upper suite is rented at $1,950 a month until 8/31/26. Landlord holds no security deposit. The lease has an auto renewal option with an
escalation clause to $2145 for the next year. There is a 5% increase from year to year after this term. Renter needs to give 120 days notice with intention to NON RENEW.
Both units have separate electrical meters. Rent includes snow removal and lawn care. Water bill paid by renter of main/upper level unit.
Paved parking for 13 cars (2 in front; 11 in rear). Short term parking leases in back can be terminated within three months. Rental income: Approximately $60/month times 6. Note: If the travel agency hires more employees, the current parking space renters will need to be terminated. The travel agency gets the two spaces in front but lease states overflow is in the back. Currently 6 spaces are rented - month to month.
Stoned patio shared with office building next door.
Newly installed Signage on busy Joppa Road. Signs have valid permits.
Windows replaced on top floor in 2012 and lower unit 2019. Main floor has replacement windows, not sure of date installed. Exterior storage under porch.
This property generates consistent rental income, making it a lucrative option for investors. Don't miss the chance to own a piece of prime real estate in a thriving business corridor.
3
Beds
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3
Baths
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MDBC2147914
MLS
1424 E Joppa Rd, Baltimore