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TD Properties 3 Purchases Former Len The Plumber Headquarters In Baltimore For $2.5M
SOLD
Maryland
See Similar DealsIndustrial24,000 SF
Sold 10/08/2025
SOLD
TD Properties 3 Purchases Former Len The Plumber Headquarters In Baltimore For $2.5M
1552 Ridgely Street
See Similar DealsIndustrial24,000 SF
Sold 10/08/2025
Summary
MARYLAND
Asset Type:Industrial
Price Per Square Foot:$104
Total Square Footage:24,000 SF
Transaction Type:Sale
The industrial asset located at 1552 Ridgely Street in Baltimore, MD, has been sold for a transaction amount of $2,500,000. The property encompasses a total of 24,000 square feet, translating to a price per square foot of $104.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $2,500,000
- Sale Date: 10/08/2025
- Address: 1552 Ridgely Street
- Market: Baltimore, MD
- Square Footage: 24,000
- Price per Square Foot: $104
- Buyer: TD Properties 3
- Broker Representatives: Jim Chivers - Gold & Company, John Roe - Gold And Company
In this transaction, TD Properties 3 will collaborate with Stephen Hubbard of Reedbird Steel to establish a construction trade school under Julia’s Gift Foundation at the acquired site, which previously served as the headquarters for Len The Plumber.
Players
BROKERAGE
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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