One North Charles Street is a prominent 27-story, approximately 351,000-square-foot commercial building located at the high-visibility intersection of North Charles Street and Baltimore Street in Downtown Baltimore. The property combines an existing commercial tenant base with major value-add and potential residential adaptive-reuse opportunities.
The property currently operates primarily as a commercial office building with a diversified base of over 70 office tenants. Detailed occupancy, rent-roll, lease, and financial information is available to qualified prospective purchasers following execution of a Non-Disclosure Agreement (NDA).
The property offers two principal potential value-creation strategies that can be pursued independently or combined over time:
Commercial Stabilization: Increase occupancy, reposition rental rates, improve operating-cost recoveries, and enhance operational efficiency.
Residential Adaptive Reuse: Evaluate conversion of selected upper floors to residential use while maintaining commercial operations on lower floors.
The current adaptive-reuse concept divides the building vertically:
Floors 1–15: Approximately 221,000 SF of commercial space.
Floors 16–25: Approximately 130,000 SF of potential residential conversion space.
This vertical configuration allows active commercial operations to continue on lower levels while selected upper floors are progressively repositioned for residential living.
Current project materials identify the property within the C-5 Downtown District, which identifies multifamily residential use as permitted by right. Prospective purchasers should independently verify zoning, building code, permitting, and regulatory requirements applicable to their specific development plan.
This has not yet been established. The current investment thesis is based upon potential residential adaptive reuse for rental apartments. No representation is being made that Floors 16–25 are presently approved or legally established as individually saleable condominium units. Any condominium strategy would require separate legal, regulatory, architectural, financing, and market analysis.
Baltimore’s office and multifamily markets reflect substantially different supply-demand fundamentals:
20.9% Baltimore Office Vacancy Rate
95.9% Baltimore Multifamily Occupancy Rate
This clear divergence provides a favorable market environment for evaluating the conversion of underutilized office space into high-demand residential apartments.
The Downtown Baltimore location appeals to a highly diversified renter demographic, including:
Graduate and professional students
Medical residents, fellows, nurses, and healthcare staff
University faculty and researchers
Young professionals, corporate relocations, attorneys, and government employees
The immediate surrounding urban area includes major higher-education institutions such as:
University of Maryland, Baltimore (UMB)
University of Baltimore (UB)
Peabody Institute of Johns Hopkins University
Maryland Institute College of Art (MICA)
Johns Hopkins University – Homewood Campus
Coppin State University, Loyola University Maryland, Notre Dame of Maryland University, and Morgan State University
Surrounding medical centers generating significant residential and professional demand include Mercy Medical Center, University of Maryland Medical Center (UMMC), UMMC Midtown Campus, Baltimore VA Medical Center, The Johns Hopkins Hospital, Grace Medical Center, and MedStar Health facilities.
Submit the Request Confidential Access form on our website with your contact details, investment profile, broker status (if applicable), and background. Qualified parties will receive an NDA link to gain immediate data room access and arrange virtual meetings or on-site tours.
Submit the Request Confidential Access form with your:
Name
Company
Title
Email
Telephone
Investor / Developer / Family Office / Broker / Lender status
Investment profile
Broker information, if applicable
Qualified prospective purchasers may then be invited to execute an NDA before receiving additional confidential materials.
Downtown Baltimore features major employers across financial services, healthcare, higher education, law, energy, government, and technology. Key anchor organizations include T. Rowe Price, Morgan Stanley, M&T Bank, Exelon/Constellation, Johns Hopkins, University of Maryland/UMMC, government agencies, courts, and law firms.
One North Charles is situated in the central business district, steps from government offices, courts, public transit, and the Inner Harbor. Recent Downtown Baltimore data demonstrates meaningful improvement in safety trends, including an approximate 25% year-over-year decline in aggregate crime activity within the Downtown Management Authority footprint during 2025. Prospective purchasers are encouraged to review public safety maps and conduct independent area due diligence.
Yes. The property maintains a diversified commercial tenant base and generates steady rental income. Confidential financial records, including rent rolls, lease abstracts, collections, operating expenses, and Net Operating Income (NOI), are made available to qualified buyers after signing an NDA.
Detailed operating statements, historical financial records, NOI analyses, and expense breakdowns are accessible inside the Virtual Data Room following NDA execution.
Financing structure will depend on the purchaser’s equity profile, proposed business plan, property valuation, leverage, and lender underwriting. Data room materials provide full financial transparency to assist buyers with institutional lender underwriting.
No. Investors are free to pursue the business plan best suited to their capital objectives—including pure commercial stabilization, mixed-use repositioning, phased residential rental conversion, or alternative permitted uses.
Yes. One North Charles welcomes inquiries from qualified domestic and international investors, private equity groups, and family offices. The entire preliminary deal review, NDA signing, due diligence, and negotiation process can be conducted remotely.
Yes. Initial investment review, virtual meetings, NDA execution, data-room review, legal/financial diligence, and contract negotiations can all be completed online.
Approved buyers gain access to:
Current rent roll, lease abstracts, and tenant reimbursement data
Historical operating statements, NOI analyses, and expense reports
Building physical specs, floor plans, and architectural conversion concepts
Additional preliminary due diligence reports
Email: [email protected]
All initial requests for confidential access, virtual meetings, and property tours should be submitted through the web portal.
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