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1552 Ridgely Street

Updated Oct 14, 2025

TD Properties 3 Purchases Former Len The Plumber Headquarters In Baltimore For $2.5M
SOLDIndustrial

TD Properties 3 Purchases Former Len The Plumber Headquarters In Baltimore For $2.5M

1552 Ridgely Street

$2,500,000

$104/SF

Building Size

24,000 SF

Asset Type

Industrial

Closing

Oct 8, 2025

About this deal

AI

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

Jim Chivers

Gold And Company

Broker

$11M

vol

4 deals

Broker
Gold And Company
Gold And CompanyBrokerage

Baltimore Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $104 per square foot on a published $2.5M for 24,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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