Retail Suite with Concierge
New
For Sale
$117,500
1 E Chase Street R3h, Baltimore, MD 21202
The suite provides concierge services, on-site maintenance, and CAM cleanings for a range of commercial occupants.
Property Size759 SF
Price / SF$154.81
Days on Market3
Property Features for 1 E Chase Street R3h
General Information
Standard status
Active
Size
759 SF
Additional Details
Floor
Retail Floor
Amenities
concierge services
on-site maintenance
CAM cleanings
Building Details
Year Built
1903
Listing Agency:
Cummings & Co. Realtors
(410) 274-3326
Listed By:
Thomas B Maley · License #656646
Source:
Kandorre
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 9:26AM
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.
Suite R3H is a 759-square-foot retail space located on the retail floor of the Belvedere at 1 E Chase Street in Baltimore. The building dates to 1903, providing an established setting for a boutique commercial operation.
Property services include concierge support, on-site maintenance, and CAM cleanings. The space is presented as a fit for retailers, salons, therapists, financial professionals, technology firms, nonprofits, and other commercial users. Private showings are available Monday through Friday from 10AM to 2PM.
Property services include concierge support, on-site maintenance, and CAM cleanings. The space is presented as a fit for retailers, salons, therapists, financial professionals, technology firms, nonprofits, and other commercial users. Private showings are available Monday through Friday from 10AM to 2PM.
Key Highlights
- 759‑square‑foot retail suite identified as R3H
- Located on the retail floor of Baltimore’s Belvedere
- Concierge services included
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
Office B
$150.7K
$131.9K – $175.9K
NOI $10,552 @ 7.0% cap · market cap 8.98%
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
Current Use
Location Intelligence
Trade Area within ½ mile
4,539
Businesses Nearby
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 Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The suite provides concierge services, on-site maintenance, and CAM cleanings for a range of commercial occupants.
Where is this retail space located?
The property is located at 1 E Chase Street 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: 759‑square‑foot retail suite identified as R3H; Located on the retail floor of Baltimore’s Belvedere; Concierge services included
