Versatile Mixed-Use Property in
For Sale
$329,900
1001 South Carey Street, Baltimore, MD 21223
Highly visible mixed-use property with rooftop deck and modern apartments.
Property Size1,848 SF
Price / SF$178.52
Days on Market76
Property Features for 1001 South Carey Street
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Residential / Fee Simple
Building Details
Year Built
1898
Listing Agency:
EXP Realty, LLC
(443) 375-6505
Listed By:
Sandra L Jenkins-Blackburn · License #586305
(443) 375-6505
Source:
Compass
Added: May 16
Changed: Jul 10
Last Checked: Jul 29 at 12:53PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This versatile end-unit mixed-use property is situated in a highly visible location in Pigtown. The property offers potential for investors, entrepreneurs, or those seeking a live-work space. Flexible zoning allows for a small business, residence, or a combination of both; verification with the city is recommended. The property features a rooftop deck and a sunroom area with panoramic views of downtown Baltimore and the historic B&O Railroad. The second and third levels contain two modern apartment units with spacious layouts, contemporary finishes, and granite countertops. Located in a vibrant neighborhood, this property offers opportunities to maximize rental income or realize a creative business vision. The property size is 1848 square feet.
Key Highlights
- Prime Pigtown location with high visibility and flexible zoning for mixed‑use (live/work).
- Spectacular rooftop deck with panoramic views of downtown Baltimore and the B&O Railroad.
- Two modern apartment units with spacious layouts and contemporary finishes.
Financial Insights For Office B
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 | $41.0k | $22.20 |
| − Vacancy | −$6.8k | −$3.66 |
| EGI | $34.3k | $18.54 |
| − OpEx | −$8.6k | −$4.63 |
| NOI | $25.7k | $13.90 |
1,848 SF · lease $22.20/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$367.0K
$321.2K – $428.2K
NOI $25,692 @ 7.0% cap · market cap 7.79%
Second Best
Mixed Use
$364.3K
$318.8K – $425.0K
NOI $25,502 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$442.7K
$387.4K – $516.5K
NOI $30,991 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 21223, MD
20,438
Population
13,034
Households
1.6
Avg Household Size
37
Median Age
12%
College-Educated
75%
High-School Grad
2.6 sq mi
ZIP Area
7,861
Density / Sq Mi
$41,828
Median Household Income
$33,367
Median Earnings
$1,110
Median Rent
$93,700
Median Home Value
Market
Properties on Market for Mixed-use properties in Baltimore
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Highly visible mixed-use property with rooftop deck and modern apartments.
Where is this mixed-use property located?
The property is located at 1001 South Carey Street Baltimore, MD.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Prime Pigtown location with high visibility and flexible zoning for mixed‑use (live/work).; Spectacular rooftop deck with panoramic views of downtown Baltimore and the B&O Railroad.; Two modern apartment units with spacious layouts and contemporary finishes.
