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    Storefront with Hardwood Floors Title is generated by Realmo AI

    18 W 24TH Street, Baltimore, MD 21218

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    Claim this Listing
    New
    For Lease
    $875 /Mo

    CommercialLease - BALTIMORE, MD

    Type:Retail
    Lot size:
    0.03 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 3:06 pm

    Property Features for 18 W 24TH Street

    General Information

    Property type
    Other
    Property subtype
    Retail
    Parking
    10
    Parking features
    Assigned, On Street
    Standard status
    Active
    Lot size
    0.03 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Building materials
    Brick

    We can help!

    Listing Contact
    Oleg Kaplun
    Oleg Kaplun

    Listing agent Oleg Kaplun

    Listing office Allfirst Realty, Inc. 1777 Reisterstown Road unit: 106, BROOKLANDVILLE, MD

    Listing date Jun 5, 2026

    MLS# MDBA2218316

    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.

    HighLights

    • Brick storefront with central heating and central air
    • Very tall ceilings with ample lighting plus hardwood floors throughout
    • Back of the shop includes two sinks, a toilet room, and a standing shower with cabinet space
    • Parking available with assigned spaces and on‑street parking
    • Built in 1900

    Overview

    This adorable storefront offers a sales-floor layout with very tall ceilings and ample lighting, along with hardwood floors throughout. The shop is equipped with a functional back area that includes two sinks, a toilet room, and a standing shower. Cabinet space in the rear provides additional storage for day-to-day operations.

    The property is located at 18 W 24TH Street in Baltimore, MD 21218, within Baltimore City. It is presented as a for-rent commercial storefront, positioned for tenants seeking a traditional street-level retail setting.

    With both a front customer area and a dedicated rear utility space, the layout may fit a range of service-oriented retail concepts that benefit from built-in plumbing and a restroom/shower setup. Tenants will want to review the space for their specific operational needs and how the rear plumbing and storage components align with their workflow.
    Property Profile Location Intelligence

    Current Use by Public Records

    Baltimore Rentals LLC Property Management Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • PEARSON FLORIST — 1 e north ave, baltimore, md 21202
    • Pearson's Florist — 1819 N Charles St, Baltimore, MD 21201
    • Belles Fleurs — 2944 Chestnut Ave, Baltimore, MD 21211
    • Local Color Flowers — 3100 Brentwood Ave, Baltimore, MD 21218

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.61587
    Latitude
    39.3166

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    FAQs

    What type of property is this?
    Storefront property - Front retail space with tall ceilings, ample lighting, plus in-shop restroom and shower facilities.
    Where is this storefront property located?
    The property is located at 18 W 24TH Street Baltimore, MD.
    What is the lease rate?
    The lease rate is $875 /Mo.
    What are key features of this property?
    This property features: Brick storefront with central heating and central air; Very tall ceilings with ample lighting plus hardwood floors throughout; Back of the shop includes two sinks, a toilet room, and a standing shower with cabinet space
    (410) 952-9981
    We can help!
    Listing Contact
    Oleg Kaplun
    Oleg Kaplun
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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