Vacant Retail Storefront
For Sale
$250,000
1625 ALICEANNA Street, Baltimore, MD 21231
Commercial Sale - BALTIMORE, MD
Property Size840 SF
Lot Size0.03 Acres
Price / SF$297.62
Days on Market50
Property Features for 1625 ALICEANNA Street
General Information
Property type
Other
Property subtype
Retail
Parking features
On Street
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1494
Building Details
Year built
1920
Number of units
1
Building materials
Brick
Listing Agency:
Douglas Realty, LLC.
(866) 987-3937
Listed By:
James T Heise · License #526469
(410) 276-1983
Added: Jun 24
Changed: Jun 29
Last Checked: Aug 12 at 12:06AM
MLS# MDBA2219584
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1625 Aliceanna Street is a vacant commercial storefront building with an approximately 840 sq. ft. +/- footprint. The property sits on an approximately 1,200 sq. ft. +/- lot and is classified for commercial use. It is being presented as a simple, small-format retail option for buyers looking to occupy the space or reposition the asset.
The building is located in Baltimore’s Fells Point waterfront district within a mixed-use corridor that includes restaurants, shops, residential development, and waterfront attractions. The remarks indicate the property is just steps from the waterfront promenade, as well as Harbor East and the historic Fells Point business district, with convenient access to Downtown Baltimore and major commuter routes including I-83 and I-95.
This offering may fit tenants or owner-users seeking a walkable, urban retail setting where day-to-day activity and foot traffic are supported by nearby retail and hospitality uses. Because the property is currently vacant, prospective buyers should plan for due diligence and any necessary improvements to match their intended storefront concept.
The building is located in Baltimore’s Fells Point waterfront district within a mixed-use corridor that includes restaurants, shops, residential development, and waterfront attractions. The remarks indicate the property is just steps from the waterfront promenade, as well as Harbor East and the historic Fells Point business district, with convenient access to Downtown Baltimore and major commuter routes including I-83 and I-95.
This offering may fit tenants or owner-users seeking a walkable, urban retail setting where day-to-day activity and foot traffic are supported by nearby retail and hospitality uses. Because the property is currently vacant, prospective buyers should plan for due diligence and any necessary improvements to match their intended storefront concept.
Key Highlights
- Approximately 840 sq. ft. +/- commercial building at 1625 Aliceanna Street
- Sits on a 1,200 sq. ft. +/- lot
- Brick construction; year built 1920
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,889
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$237,780
$237.8K
Cap Rate 7%
$169,843
$169.8K
Cap Rate 9%
$132,100
$132.1K
Market Conditions
NOI Build-Up for 840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.1K $21.60/SF
− Vacancy
−$1.2K −$1.38/SF
EGI
$17.0K $20.22/SF
− OpEx
−$5.1K −$6.07/SF
NOI
$11.9K $14.15/SF
Area
Baltimore, MD
Vacancy
6.39%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$237,780
Cap Rate 7%
$169,843
Cap Rate 9%
$132,100
Alternative Uses
Best Use
Retail
$169.8K
$148.6K – $198.2K
NOI $11,889 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$201.2K
$176.1K – $234.8K
NOI $14,087 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,083
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21231, MD
17,062
Population
9,342
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
18,958
Density / Sq Mi
$85,382
Median Household Income
$67,289
Median Earnings
$1,710
Median Rent
$336,500
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant commercial storefront offers a small-format footprint on a modest lot, suitable for owner-users and retail operators.
Where is this storefront property located?
The property is located at 1625 ALICEANNA Street Baltimore, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Approximately 840 sq. ft. +/- commercial building at 1625 Aliceanna Street; Sits on a 1,200 sq. ft. +/- lot; Brick construction; year built 1920
