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Listed by Adam M Shpritz • Ashland Auction Group LLC
$500,000
Est. payment /mo
7,071 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,071 sqft
Price per Sqft $70
Subdivision Franklin Square Historic District
MLS Listing ID MDBA2180788
Year Built 1920
Annual Tax Amount $4,545
Tax Year 2024
Lot Size 1,800 Sqft
Acres 0.04
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Presenting a rare Baltimore investment property that combines a popular tavern and nine residential units under one roof. Investors and property buyers will appreciate the multiple income streams and unique flexibility of this mixed-use real estate gem. Currently operating as Richie's Lounge, the first-floor tavern holds a 7-day beer, wine & liquor license (valid through April 30, 2026) and is approved for live entertainment and dancing – offering immediate revenue from nightlife operations. Above the bar, nine (9) apartment units provide steady rental income, making this a truly income-producing property in Baltimore with exceptional value-add potential.
The tavern space is full of character and functionality, featuring original details like three fireplaces, a dedicated DJ booth, an upstairs kitchen with half-bath, and two multi-stall restrooms for patrons. All existing bar fixtures and equipment convey in the sale, creating a turnkey venue ready for operation from day one. The residential units upstairs consist of three finished studio apartments and four finished one-bedroom apartments that are rent-ready, plus two additional one-bedroom units primed for renovation (with city-approved construction plans included). This setup allows an investor to start earning rental income immediately while adding value by completing the remaining units.
Whether you're looking to expand your portfolio with a high-yield mixed-use asset or launch your own hospitality venture with on-site rental income, 1600 W Baltimore Street offers an unparalleled opportunity. It's situated in Baltimore City along a prominent corridor, ensuring visibility and accessibility. Don't miss the chance to acquire this unique bar-and-apartments property – a versatile, income-producing Baltimore investment with both immediate cash flow and long-term growth potential. Property is owner occupied, and will be delivered vacant at time of settlement.
Property Highlights:
Unique Mixed-Use Configuration: Three-story brick building ( 7,071 sq ft) combining a commercial tavern/lounge on the ground floor with nine residential apartment units above.
Turnkey Tavern (Richie's Lounge): First-floor bar comes fully equipped and furnished, featuring 3 fireplaces, a DJ booth, an upstairs kitchen with half bath, and two multi-stall restrooms. All bar equipment and fixtures convey with sale.
Active Liquor License & Entertainment: Includes a valuable 7-day Beer, Wine & Liquor license (valid through 4/30/2026) with approvals for live entertainment and dancing, offering immediate operational capability and nightlife revenue.
Nine Apartment Units: Upper levels contain 3 finished studio apartments and 4 finished one-bedroom apartments, all ready to lease for instant rental income. Two additional one-bedroom units are framed and ready for renovation, allowing further income growth (permits and drawings already approved).
Value-Add Upside: City-approved plans are in place for completing the unfinished units, streamlining the process to increase property value and cash flow. Ideal for investors seeking both stable income and future appreciation.
Strong Income Potential: Multiple revenue streams from tavern sales and apartment rentals make this a high-potential, income-producing property – perfect for diversifying an investment portfolio or for an owner-operator looking to offset business expenses with rental income.
Prime Baltimore Location: Situated at 1600 W Baltimore Street in Baltimore City, the property enjoys a high-visibility corner location in a historic urban corridor. It's convenient to downtown amenities, public transit, and major thoroughfares, attracting both local patrons and tenants alike.
The tavern space is full of character and functionality, featuring original details like three fireplaces, a dedicated DJ booth, an upstairs kitchen with half-bath, and two multi-stall restrooms for patrons. All existing bar fixtures and equipment convey in the sale, creating a turnkey venue ready for operation from day one. The residential units upstairs consist of three finished studio apartments and four finished one-bedroom apartments that are rent-ready, plus two additional one-bedroom units primed for renovation (with city-approved construction plans included). This setup allows an investor to start earning rental income immediately while adding value by completing the remaining units.
Whether you're looking to expand your portfolio with a high-yield mixed-use asset or launch your own hospitality venture with on-site rental income, 1600 W Baltimore Street offers an unparalleled opportunity. It's situated in Baltimore City along a prominent corridor, ensuring visibility and accessibility. Don't miss the chance to acquire this unique bar-and-apartments property – a versatile, income-producing Baltimore investment with both immediate cash flow and long-term growth potential. Property is owner occupied, and will be delivered vacant at time of settlement.
Property Highlights:
Unique Mixed-Use Configuration: Three-story brick building ( 7,071 sq ft) combining a commercial tavern/lounge on the ground floor with nine residential apartment units above.
Turnkey Tavern (Richie's Lounge): First-floor bar comes fully equipped and furnished, featuring 3 fireplaces, a DJ booth, an upstairs kitchen with half bath, and two multi-stall restrooms. All bar equipment and fixtures convey with sale.
Active Liquor License & Entertainment: Includes a valuable 7-day Beer, Wine & Liquor license (valid through 4/30/2026) with approvals for live entertainment and dancing, offering immediate operational capability and nightlife revenue.
Nine Apartment Units: Upper levels contain 3 finished studio apartments and 4 finished one-bedroom apartments, all ready to lease for instant rental income. Two additional one-bedroom units are framed and ready for renovation, allowing further income growth (permits and drawings already approved).
Value-Add Upside: City-approved plans are in place for completing the unfinished units, streamlining the process to increase property value and cash flow. Ideal for investors seeking both stable income and future appreciation.
Strong Income Potential: Multiple revenue streams from tavern sales and apartment rentals make this a high-potential, income-producing property – perfect for diversifying an investment portfolio or for an owner-operator looking to offset business expenses with rental income.
Prime Baltimore Location: Situated at 1600 W Baltimore Street in Baltimore City, the property enjoys a high-visibility corner location in a historic urban corridor. It's convenient to downtown amenities, public transit, and major thoroughfares, attracting both local patrons and tenants alike.
Location
State MD
County Baltimore City
Zoning R-8
Interior
Hot Water Electric
Heating Forced Air, Heat Pump - Electric BackUp
Cooling Central A/C, Heat Pump(s)
Heat Source Electric
Exterior
Utilities Available Electric Available
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0319060195 054
Ownership Fee Simple
SqFt Source Assessor
Security Features Exterior Cameras,Carbon Monoxide Detector(s),Fire Detection System
Special Listing Condition Auction
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