Versatile Mixed-Use Space in
For Sale
$165,000
102-723 S Charles Street S, Baltimore, MD 21230
868 SF mixed-use space in prime Federal Hill location.
Property Size868 SF
Price / SF$190.09
Days on Market139
Property Features for 102-723 S Charles Street S
General Information
Standard status
Active
Size
868 SF
Taxes and HOA fees
Annual Taxes
$3,353
Listing Agency:
Coldwell Banker Realty
(301) 983-0202
Listed By:
Jody Bell · License #MD657917
(240) 674-3937
Source:
Exprealty
Added: Apr 20
Changed: Aug 22
Last Checked: Sep 5 at 9:41AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Unit 102 offers approximately 868 square feet of versatile mixed-use space in a prime Federal Hill location. Well-suited for office, boutique commercial, service-oriented business, consulting, or potential live/work occupancy subject to approvals, this unit provides an excellent opportunity for a buyer or tenant seeking a highly functional footprint in a walkable and well-positioned urban setting. This unit may be occupied independently or in combination with Unit LL2, creating an expanded occupancy option for users seeking additional square footage and flexibility.
Key Highlights
- Prime Federal Hill location
- 868 SF of flexible mixed‑use space
- Suitable for office, retail, service business, or consulting
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
$11,978
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
7.26%
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%
$239,560
$239.6K
Cap Rate 7%
$171,114
$171.1K
Cap Rate 9%
$133,089
$133.1K
Market Conditions
NOI Build-Up for 868 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
$20.8K $24.00/SF
− Vacancy
−$1.7K −$1.92/SF
EGI
$19.2K $22.08/SF
− OpEx
−$7.2K −$8.28/SF
NOI
$12.0K $13.80/SF
Area
Baltimore, MD
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$239,560
Cap Rate 7%
$171,114
Cap Rate 9%
$133,089
Alternative Uses
Best Use
Mixed Use
$171.1K
$149.7K – $199.6K
NOI $11,978 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.9K
$182.0K – $242.6K
NOI $14,556 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 868 SF mixed-use space in prime Federal Hill location.
Where is this mixed-use property located?
The property is located at 102-723 S Charles Street S Baltimore, MD.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Prime Federal Hill location; 868 SF of flexible mixed‑use space; Suitable for office, retail, service business, or consulting
