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    Redevelopment Property in Prime Location

    319-321 S CENTRAL Avenue Baltimore, MD 21202

    319-321 S CENTRAL Avenue, Baltimore, MD, 21202
    $399,000
    For Sale
    Claim this Listing
    $399,000

    MULTI_FAMILY - BALTIMORE, MD

    Property Size2,585 SF
    Lot Size0.06 Acres
    Price / SF$154.35
    AddedMar 26
    Days on Market113
    Last RefreshJul 16 at 12:06 pm

    Property Features for 319-321 S CENTRAL Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Standard status
    Active
    Size
    2,585 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7502

    Utilities

    Heating system
    Heat Pump (Heating)

    Building Details

    Year built
    1920
    Number of units
    1
    Building materials
    Combination

    Listing agent Thomas B Maley License #656646

    Listing office Cummings & Co. Realtors 108 W Timonium Road unit: 100, Baltimore, MD

    Listing date Mar 26, 2026

    MLS# MDBA2207824 Listing URL

    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.

    Located next to historic Little Italy and the vibrant Harbor East communities, this redevelopment property at 319-321 S CENTRAL Avenue, BALTIMORE, MD 21202 offers a prime location with a high traffic count. The property has approved mixed-use plans available upon request. The project is ready for permits, and zoning is flexible with numerous uses. This opportunity is located directly across the street from the Canal Street Malt House redevelopment property. The lot size is 0.06 acres, and the property size is 2585 square feet.

    Key Highlights

    • Prime location next to historic Little Italy and Harbor East.
    • Approved mixed‑use redevelopment plans available.
    • Flexible zoning with numerous potential uses.

    Local Financial Insights For Mixed Use

    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 $62.0k $24.00
    − Vacancy −$5.0k −$1.92
    EGI $57.1k $22.08
    − OpEx −$21.4k −$8.28
    NOI $35.7k $13.80
    2,585 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $509.6K
    $445.9K – $594.6K (±1% cap)
    NOI $35,673 @ 7.0% cap · market cap 8.94%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $619.3K
    $541.9K – $722.5K (±1% cap)
    NOI $43,351 @ 7.0% cap · market cap 10.86%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Pet Store Pet Store & Service (Bike/Boat/Book/etc) Store Plumbing Service (Bike/Boat/Book/etc) Store Butcher (Bike/Boat/Book/etc) Store Tanning Salon Adult Day Care Supermarket

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

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    FAQs

    What type of property is this?
    Mixed-use property - Redevelopment property in Baltimore near Little Italy and Harbor East.
    Where is this mixed-use property located?
    The property is located at 319-321 S CENTRAL Avenue Baltimore, MD.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime location next to historic Little Italy and Harbor East.; Approved mixed‑use redevelopment plans available.; Flexible zoning with numerous potential uses.
    Contact an agent
    (410) 274-3326
    We can help!
    Contact an agent
    Thomas B Maley
    Real Estate License ID: 656646
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