One North Charles | 2024 — Sale in Baltimore, MD
- Price: $3
- Listing type: For sale
- Asset type: Office
- Location: Baltimore, MD 21201
- Year built: 1963
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Description
JLL is pleased to present for sale One North Charles, a 49% leased,25-story,~290,423 square foot office tower in Baltimore’s Central Business District. Situated on one of the most recognizable intersections, the corner of Fayette Street and Charles Street, this iconic landmark building has one of the foremost locations within Baltimore City and is easily accessed by all of the region’s major thoroughfares. One North Charles is located just a few blocks away from Baltimore’s Inner Harbor which fuels a strong demand from office, retail, and residential tenants in the area. The unique property also features many desirable amenities such as a conference center, on-site management & maintenance, concierge service, Potbelly Sandwich Works in the lobby, and 30 on-site parking spaces with an additional 2,500 spaces available within a 2-block radius. The current owners have worked to relocate leases out of the top half of the building (floors 16-25) and have secured renderings and cost estimates for 14 multifamily units per floor and completed a model unit. Additionally, most new leases throughout the building have landlord rights to relocate tenants. With the lower half 52% leased and 13,579 square feet of leases on the top floors with relocation rights, a partial multifamily conversion would provide income support on the lower half while the upper floors are renovated. Additionally, the building features two entrances, one on N Charles Street and the other on E Fayette Street, conveniently allowing for office and multifamily users to have separate access under a partial conversion. Thereafter the building can be fully converted or remain as a mixed-use property. This offering represents a rare opportunity to acquire a high quality premier downtown office asset significantly below replacement cost with major upside through both conversion and lease up, or a combination of both strategies.
Market Context
This office in Baltimore, MD is listed for sale at $3. The building dates to 1963. Compare it against other office listings for sale in Baltimore, MD — view the full market.
As of Q2 2026, the Baltimore office market showed a 17.8% vacancy rate, and average asking rents near $26.38/SF/yr. Source: multiple brokerage reports, Q2 2026.
Above-average vacancy gives buyers leverage and a wide set of comparables.
Office market FAQ
- Is the Baltimore office market tightening or softening?
- Vacancy is around 17.8% (Q2 2026).
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