Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    508 S Broadway Baltimore, MD 21231

    Sponsored
    For Sale
    $395,000

    Commercial Sale - BALTIMORE, MD

    Type:Retail
    Lot size:
    0.05 Acres
    Days on Market:
    35
    Last Refresh:
    Feb 11 at 11:06 pm

    Property Features for 508 S Broadway

    General Information

    Property type
    Other
    Property subtype
    Retail
    Standard status
    Active
    Parking features
    On Street
    Lot size
    0.05 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Number of units
    3
    Building materials
    Brick, Block

    We can help!

    Listing Contact
    Jason S Lusby

    Keller Williams Gateway LLC (443) 318-8800

    Listing agent Jason S Lusby (410) 318-8800 License #597833

    Listing date Jan 8, 2026

    MLS# MDBA2148540

    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.

    Learn more

    Property Insight Report

    Overview

    Broadway Retail Building in Baltimore

    This two-unit retail building is located on Broadway, a quarter block from the Fells Point Market. Zoned C-1, the property offers approximately 3500 square feet of space. Each unit has a separate retail entrance on Broadway. Unit 1 is a street-level retail space that occupies most of the lot, featuring two large window displays to capture foot traffic. Retail display cases, office furnishings, a safe, and all furnishings, fixtures, and equipment are included in the sale. Unit 2 spans the three upper levels and has a separate entrance facing Broadway. It is currently built out as a wellness center and massage studio with several treatment rooms. The property is sold AS-IS and WHERE-IS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dose of Wellness Massage ... Alternative Medicine Practice Karmic Connection (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.59387
    Latitude
    39.28523

    Nearby Similar for Sale

    • $949,999
      6,702 SF

      Renovated Brownstone Multifamily Investment Opportunity

      Turnkey multifamily property with five luxury apartment units in Baltimore.
      2304 Eutaw Pl, Baltimore, MD 21217
      View Details
    • $550,000
      1,965 SF

      Federal Hill Multi-Unit Investment

      Multi-unit property in Federal Hill with income potential.
      1447 William St, Baltimore, MD 21230
      View Details
    • New
      $624,999
      2,968 SF

      Bolton Hill Triplex Apartment Building

      Turnkey triplex in prime Baltimore location with modern amenities.
      1809 Bolton St, Baltimore, MD 21217
      View Details
    • $320,000
      Pending

      Turnkey Multifamily Investment Opportunity

      Renovated 3-unit property in Baltimore, ideal for investors.
      3414 Garrison Blvd, Baltimore, MD 21215
      View Details
    • $1,100,000
      10,966 SF

      Mount Vernon Mixed-Use Investment

      Fully occupied mixed-use building in historic Mount Vernon neighborhood.
      18 W Franklin St, Baltimore, MD 21201
      View Details
    • New
      $500,000
      0.31 Acres

      Iconic Inn with Liquor License

      Rare opportunity: Inn, real estate, and 7-day liquor license.
      2816 North Point Rd, Baltimore, MD 21222
      View Details
    • $750,000
      2,632 SF

      Historic Baltimore Property with Barn

      Unique property featuring a historic home and converted barn.
      337 E Hamburg St, Baltimore, MD 21230
      View Details
    • $935,000
      3,292 SF

      Renovated Four-Unit Apartment Building

      Turnkey investment property in historic Charles Village, Baltimore.
      2635 N Calvert St, Baltimore, MD 21218
      View Details
    • $649,900
      0.07 Acres

      Baltimore Multi-Unit Investment Property

      Five-unit property with $66,000 annual rent roll and 10.2% cap rate.
      1404 Madison Ave, Baltimore, MD 21217
      View Details
    • $649,900
      0.07 Acres

      Baltimore Investment Property with Rental Units

      Investment property featuring five rental units with a strong cap rate.
      1404 Madison Ave, Baltimore, MD 21217
      View Details
    • $500,000
      1,862 SF

      Highlandtown Multi-Unit with Commercial Space

      Vacant multi-unit property with commercial space in Highlandtown, Baltimore.
      3418 Eastern Ave, Baltimore, MD 21224
      View Details
    • $749,900
      2,038 SF

      Multi-Home Property on Two Acres

      Two homes on 2+ acres, ideal for living and renting.
      3417 E Joppa Rd, Baltimore, MD 21234
      View Details

    FAQs

    What type of property is this?
    Retail space - Two-unit retail building near Fells Point Market.
    Where is this retail space located?
    The property is located at 508 S Broadway Baltimore, MD.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - C-1 zoning in a high-traffic location on Broadway, near Fells Point Market.; - Two separate retail units, each with its own entrance on Broadway.; - Unit 1: Street-level retail space with LARGE window displays and included furnishings, fixtures, and equipment.
    (410) 960-0858
    Request Owner's contact information
    508 S Broadway Baltimore, MD 21231
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    508 S Broadway
    Baltimore, MD 21231
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    508 S Broadway Baltimore, MD 21231
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason S Lusby
    Real Estate License ID: 597833
    (410) 960-0858
    Learn more
    Google sign-in failed. Please try again or use another login method.