Updated Oct 14, 2025
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
Baltimore Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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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