1 Willard St Baltimore, MD 21223
IMU-1 Zoning Developments: Mixed-Use Opportunities in Baltimore
Marketing description
The property at 1 Willard St, Baltimore, MD 21223, presents an exceptional opportunity for industrial, commercial, or potential multifamily development. There's a possibility to rezone the property for multifamily use, opening the door for projects like senior housing or affordable housing.
Strategically positioned with direct access to major transportation routes, the property’s robust infrastructure supports diverse operations, including manufacturing, warehousing, and distribution. A key advantage is its location within Baltimore’s Enterprise Zone, offering significant tax incentives, including a 10-year real property tax credit on improvements and income tax credits for job creation. These incentives can dramatically reduce operating costs for businesses or developers.
Moreover, the property is part of several transformative neighborhood plans, such as the West Baltimore MARC Station Transit-Oriented Development (TOD) Plan, which enhances regional connectivity and accessibility for local workers. The Frederick Elementary School INSPIRE Plan is focused on neighborhood improvements, contributing to a vibrant community that could increase property values. The Southwest Partnership Vision Plan aims to revitalize the area, making this property a prime candidate for businesses or developers looking to be part of a broader community renewal effort.
With these strategic advantages, and the possibility of multifamily development, this property is ideally positioned for growth, whether for industrial purposes or innovative housing solutions.
To schedule a showing request, please click this link:
https://calendly.com/showings-midfieldre/30min?month=2024-07
Investment highlights
Strategic Location: Positioned with direct access to major transportation routes and proximity to Baltimore’s central business district, ideal for industrial or commercial use.
Enterprise Zone Benefits: Situated within Baltimore’s Enterprise Zone, offering a 10-year real property tax credit on improvements and income tax credits for job creation, significantly reducing operating costs.
Robust Infrastructure: Suitable for diverse operations, including manufacturing, warehousing, and distribution.Transportation-Oriented Development (TOD) Advantage: Located near the West Baltimore MARC Station, enhancing connectivity for businesses and access to a local workforce.
Neighborhood Improvement Plans: The property benefits from several revitalization efforts, including the Frederick Elementary School INSPIRE Plan and the Southwest Partnership Vision Plan, which contribute to neighborhood renewal and potential property value appreciation.
Growth Potential: With tax incentives, access to major highways, and being part of transformative neighborhood plans, this property is well-positioned for long-term growth and success for businesses.
Utilities: Has existing water lines in place, but it currently lacks a water meter due to its extended period of vacancy. This will require the installation of a new meter in order to restore water service to the property.The property does not currently have gas or electric service available, and these utilities will need to be set up or restored.
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