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The Castle 3355 Keswick Rd 27,263 SF 100% Leased Office Building Baltimore, MD 21211 $2,525,000 ($92.62/SF)



Investment Highlights
- Fully leased in 2025
- On site parking
- on-site property management
- Iconic location in Hampden Community
- Zoning permits office, residential and retail uses
- adaptive reuse value add opportunity
Executive Summary
Key historical milestones include:1899–Early 2000s (Police Station): Built to serve as the Northern District Police Station. It housed holding cells, a gymnasium, a stable area, and carriage houses for the city's mounted police. It was one of the city's most intact 19th-century civic buildings.
Restoration: Following its retirement as an active police station, the historic property underwent an extensive award-winning restoration and was adapted into a commercial office and studio complex. The original entry way was restored, along with the carriage houses and even the holding cells. The building houses an array of offices and retail uses and is a welcome addition to this section of Hampden. The Adaptive Reuse and Compatible Design award went to David Gleason Architects in 2010. In 2025 the building was 100% leased and the full building income was $546,600 with total operating expenses of $216,000 for a net operating income of $330,600.
On November 10, 2025, a 3-alarm fire damaged the upper levels and roof of the building, displacing several long-time tenants on the upper floors of the main building. Eight tenants continue to operate 48% of the buildings in 623 W 34th Street portion of the complex that were not affected by the fire. The in place revenue for 2026 is $260,045. The building is currently undergoing restoration following the blaze.
MARYLAND HISTORICAL TRUST:
Northern District Police Station
Inventory No.: B-1339
Date Listed: 12/28/2001
Location: 3355 Keswick Road, Baltimore, Baltimore City
Category: Building
Period/Date of Construction: 1899
Architect/Builder: Architect: Henry Brauns
Description: The Northern District Police Station is a complex of interconnected buildings designed in the late Victorian/French Renaissance style consisting of a three-story main station house with a hipped roof and dormers. A two story building which had originally housed the cellblock connects to the rear of the station house. The main building is in turn attached to a pair of hipped roof garages which were originally used as livery buildings. They are in turn connected to an L-shaped building consisting of the original clerestoried stable and flat roofed garage. Along with another separate garage on the southern edge of the lot, the buildings encircle a courtyard which is now used as a parking lot. It is accessed from West 34th Street through an arched entry between the two livery buildings. The walls are brick with a granite base and brownstone trim and the hipped roofs are sheathed in slate with wrought iron finials and ridge cresting. The unattached garage is built in brick with a flat roof. The main façade, which fronts on Keswick Road, is symmetrical in design with identical two-story slate roofed turrets at each end. The detailing includes stained glass transoms set in keystoned brownstone arches and carved brownstone bases that seat brick pilasters. The interior consists mainly of plastered walls with wood wainscoting and pressed tin ceilings and wood stripped floor now covered with vinyl tile. The original wrought iron stair is still intact. The original gymnasium on the third floor is still used.
Significance: The Northern District Police Station is architecturally significant as an outstanding example of late 19th century Victorian eclectic design in Baltimore’s public buildings. It’s massing and impressive architectural detailing demonstrate the high degree of regard that governments of the period in American cities gave aesthetics when it came to the design of important civic structures. The building embodies the distinctive characteristics of the French Renaissance chateauesque style, which was a strain of late 19th century Victorian eclecticism, with its detailing and palette of red brick and brownstone, using such materials as stained glass, pressed tin ceilings, wainscoting, and central steel and wrought iron stair. This is probably the best and most intact example of this style in Baltimore. The Northern District Police Station was designed by Henry Brauns, one of the founding members of the Baltimore Chapter of the AIA in 1870. The building is also significant for the important role it played in the category of government and law for over 100 years, serving Baltimoreans in the northern section of the city which almost doubled in size from land taken in by annexation from 1888 to 1917. The building chronicles the evolution of police work from the Late Victorian era to the present. Out of the city’s three remaining stations from this period, the Northern District is the most intact and is the only one used in its original function.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$546,600
|
$20.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$546,600
|
$20.05
|
| Taxes |
$68,000
|
$2.49
|
| Operating Expenses |
$147,335
|
$5.40
|
| Total Expenses |
$215,335
|
$7.90
|
| Net Operating Income |
$331,265
|
$12.15
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $546,600 |
| Annual Per SF | $20.05 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $546,600 |
| Annual Per SF | $20.05 |
| Taxes | |
|---|---|
| Annual | $68,000 |
| Annual Per SF | $2.49 |
| Operating Expenses | |
|---|---|
| Annual | $147,335 |
| Annual Per SF | $5.40 |
| Total Expenses | |
|---|---|
| Annual | $215,335 |
| Annual Per SF | $7.90 |
| Net Operating Income | |
|---|---|
| Annual | $331,265 |
| Annual Per SF | $12.15 |
Property Facts
Amenities
- Courtyard
- Bicycle Storage
- Natural Light
- Hardwood Floors
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Real Estate | - | $18.57 | Triple Net | Jan 2030 | |
|
Professional, Scientific, and Technical Services | - | $16.50 | - | Sep 2012 | |
| Enact Counseling Services | Services | - | - | - | Jan 2028 | |
|
Professional, Scientific, and Technical Services | - | $16.25 | Full Service | Nov 2025 | |
| Flora | Services | - | $19.50 | Double Net | Jan 2027 | |
|
Retailer | - | - | - | - | |
|
Finance and Insurance | - | $19.50 | Double Net | Oct 2027 | |
|
Services | - | - | - | - |
Property Taxes
| Parcel Number | 3670A-021 | Total Assessment | $2,874,400 |
| Land Assessment | $830,000 | Annual Taxes | $68,000 ($2.49/SF) |
| Improvements Assessment | $2,044,400 | Tax Year | 2025 |
Property Taxes
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The Castle | 3355 Keswick Rd
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