225 - 227 W READ Street, Baltimore, MD 21201
MULTI_FAMILY - BALTIMORE, MD
- Added:
- Feb 26, 2026
- Days on Market:
- 109
- Last Refresh:
- Jun 15 at 12:06 pm
Property Features for 225 - 227 W READ Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 3,600 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9320
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Number of units
- 1
- Building materials
- Brick
Listing agent Bryan Carnaggio License #677096 (443) 617-6592
Listing office Redfin Corp 540 Gaither Road unit: 500, Falls Church, MD (301) 658-6186
Listing date Feb 26, 2026
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
- Immediate ROI with zero vacancy at closing.
- Income‑producing mixed‑use property with stable commercial and premium residential units.
- Long‑term, established commercial tenant in a high‑visibility location.
- Spacious and modern 3‑Bedroom, 2‑Bathroom apartment with open‑floor plan.
- Prime location near UMD Medical Center, Penn Station light rail, and the city's cultural heart.
- True dual functionality with separate entrances for commercial and residential units.
Overview
The commercial suite is occupied by a long-term, established tenant. The property is positioned in the Mount Vernon/Downtown area and is described as being close to UMD Medical Center and the Penn Station light rail.
For buyers or operators seeking dual functionality, the layout supports both income-producing commercial space at street level and an upstairs residential unit with its own entry. The configuration is straightforward: one ground-level retail suite and one apartment spanning the upper floors, all within a single three-story structure.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.8k | $21.60 |
| − Vacancy | −$5.0k | −$1.38 |
| EGI | $72.8k | $20.22 |
| − OpEx | −$21.8k | −$6.07 |
| NOI | $51.0k | $14.15 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore
- State
- Maryland
- Longitude
- -76.61922
- Latitude
- 39.30042
