Retail Property in Baltimore,
For Sale
$117,500
1 E Chase St #R3h, Baltimore, MD 21202
Retail property available for sale in Baltimore, Maryland.
Property Size759 SF
Price / SF$154.81
Days on Market97
Property Features for 1 E Chase St #R3h
General Information
Standard status
Active
Size
759 SF
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$1,074
Amenities
Central Air
Forced Air, Electric
On Street
Building Details
Building Size
759 SF
Year Built
1903
Listing Agency:
Cummings & Co. Realtors
(410) 274-3326
Listed By:
Thomas B Maley · License #656646
(410) 274-3326
Source:
Evrealestate
Added: May 20
Changed: Aug 16
Last Checked: Aug 23 at 2:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This retail property, with a size of 759 square feet, is available for sale. The property is located in Baltimore City. Directions to the property are: GPS: W Mulberry St to Martin Luther King Jr. Blvd. Right onto W Read St. Continue onto W Chase St. Continue onto E Chase St.
Key Highlights
- Central air cooling for summer comfort
- Forced air heating for efficient warmth
- Electric heating also available
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
$10,743
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
9.14%
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%
$214,860
$214.9K
Cap Rate 7%
$153,471
$153.5K
Cap Rate 9%
$119,367
$119.4K
Market Conditions
NOI Build-Up for 759 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
$16.4K $21.60/SF
− Vacancy
−$1.0K −$1.38/SF
EGI
$15.3K $20.22/SF
− OpEx
−$4.6K −$6.07/SF
NOI
$10.7K $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%
$214,860
Cap Rate 7%
$153,471
Cap Rate 9%
$119,367
Alternative Uses
Best Use
Retail
$153.5K
$134.3K – $179.1K
NOI $10,743 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$181.8K
$159.1K – $212.1K
NOI $12,728 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,539
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
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 - Retail property available for sale in Baltimore, Maryland.
Where is this storefront property located?
The property is located at 1 E Chase St #R3h Baltimore, MD.
What is the asking price?
The asking price for this property is $117,500.
What are key features of this property?
This property features: Central air cooling for summer comfort; Forced air heating for efficient warmth; Electric heating also available
