At Willowbrook Valuation, we’ve spent time analyzing a multitude of locations in the Baltimore-Washington metro area as part of our work with commercial real estate clients. In this blog, we take a closer look at Canton, a thriving harborside neighborhood in Baltimore, MD. The future looks bright for commercial real estate in Canton, and we believe the area will see plenty of growth in upcoming years.
Life in Canton, MD
Only miles from downtown Baltimore, Canton is a hip, popular neighborhood bordered by Patterson Park, Fells Point, Brewers Hill and the Patapsco River waterfront. It provides easy access to Interstates 95 and 895 as well as two major MTA bus lines. The area has expanded tremendously since the 1990s, and young people continue to travel to Canton for its lively atmosphere and vibrant nightlife, driving the median resident age to 34. Young professionals also move there for its welcoming, family-friendly community. The neighborhood hosts Baltimore’s annual Seafood Fest and Wine Fest, two major events that attract hundreds of Marylanders.
Canton is within 30 minutes of BWI airport and only 15 minutes from Penn Station. Residents love O’Donnell Square Park, which is surrounded by a wide variety of shops, restaurants and bars. Canton Waterfront Park is also a fantastic place to take a run, enjoy live music and enjoy beautiful harbor views.
Canton’s Growing Potential: Celebrating the Past and Looking Toward the Future
Both residential and commercial real estate in Canton have been revitalized in recent years. The greatest symbol of this is The Can Company, an old industrial canning plant that was converted into a popular shopping center in the late 1990s. Residents can now rely on a Safeway-anchored urban center and browse through a range of shops and dine in gourmet restaurants. However, it still retains its old-world charm, and that’s why we expect Canton to continue blossoming in the future. The neighborhood offers a delightful mix of old and new, of modern, updated spots and historic scenery.
Commercial Real Estate Opportunities in Canton
Due to Canton’s skyrocketing growth, the commercial real estate opportunities in this area consistently sought after. The median rent in Canton is about $2,089 (high for the City), so it tends to attract medium to high income workers. The people who move to Canton or commute there have a strong interest in retail, restaurants, and entertainment and cultural venues. Residents and locals love Canton’s urban environment and its strong sense of community; both of these aspects make it a great place to invest in commercial real estate.
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