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The Wine Source, a mainstay for over 20 years near The Avenue, a hot retail district in Baltimore's Hampden neighborhood, has hit the market.
Owner David Wells, 70, has decided to retire and hired MacKenzie Commercial Real Estate Services LLC to handle the sale of both the business and the 9,640 SF property at 3601 Elm Ave.
Wells purchased the beer, wine and packaged goods store in 1990 when it was located in The Rotunda and subsequently moved the store to 3601 Elm Ave. in 2001.
“I was 34 years old when I bought the business, and now is the right time to find a younger version of myself that is passionate about taking The Wine Source to the next generation of customers and capitalizing on the brand we have carefully and enthusiastically created,” Wells said in a statement.
Wells Enterprises LLC purchased the now 40-year-old building and parking lot for $260K in February 2001, according to property records. State tax assessors estimated the property was worth more than $644K in July 2023.
MacKenzie's Henry Deford, John Harrington and Tim Harrington are handling the sale of the free-standing retail property and adjacent parking lot. MacKenzie has experience bringing new retail to The Avenue, including Catalog Coffee, Kandahar Afghan Kitchen and The Urban Oyster.
“This represents a rare opportunity to acquire a turnkey and well-established operation and initiate a new chapter in the history of this legacy brand, as well as acquire strategic real estate,” Deford said in a statement.
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