1028 S Conkling St, Baltimore, MD 21224

Building Details

Tenancy Single More

Listing Agency: Avenue Real Estate, LLC Show Phone

Listed By: Ross Conn · License MD #633650 Show Phone

Source: Moodyscre

Added: Mar 25, 2025 Changed: Nov 5 Last Checked: Nov 10 at 10:50AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This triple-net leased retail building is single tenant and 100% occupied. The property is offered for sale as a stable, net-leased investment with one operating tenant occupying the entire building.

The building is well located at the intersection of S. Conkling St and O'Donnell St in Brewers Hill. Brewers Hill in Southeast Baltimore is characterized by rowhouses, new-construction townhomes, and luxury apartment buildings. The area also provides access to commuter routes, along with shopping and retail at Canton Crossing, as well as neighborhood restaurants and bars.

Key Highlights

• Triple‑net leased, single‑tenant retail building
• 100% occupied by the current tenant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,499

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,089,980 $1.1M

Cap Rate 7%

$778,557 $778.6K

Cap Rate 9%

$605,544 $605.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,530 SF

Gross rent

$83.2K $18.36/SF

− Vacancy

−$5.3K −$1.17/SF

EGI

$77.9K $17.19/SF

− OpEx

−$23.4K −$5.16/SF

NOI

$54.5K $12.03/SF

Area

ZIP 21224

Vacancy

6.39%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,089,980

Cap Rate 7%

$778,557

Cap Rate 9%

$605,544

Alternative Uses

Best Use

Retail

$778.6K

$681.2K – $908.3K (±1% cap)

NOI $54,499 @ 7.0% cap · market cap 6.06%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.09M

$949.6K – $1.27M (±1% cap)

NOI $75,968 @ 7.0% cap · market cap 8.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Olar Bar & Pub Of Love & Regret Restaurant

Suggested Use

Top Pick Home Appliance Store (Bike/Boat/Book/etc) Store Nursing Home Bed & Breakfast Electrical Service Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,354

Businesses Nearby

Explore this area Business Placement

Demographics for 21224, MD

54,266

Population

23,433

Households

2.3

Avg Household Size

33

Median Age

50%

College-Educated

85%

High-School Grad

9.3 sq mi

ZIP Area

5,835

Density / Sq Mi

$86,209

Median Household Income

$63,556

Median Earnings

$1,782

Median Rent

$281,400

Median Home Value

Market

Average Price Trend$/SF for NNN properties in Baltimore County, MD

$414 Jul

$439 Aug

$469 Sep

$409 Oct

Properties on Market for NNN properties in Baltimore County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Baltimore, MD

5.8% 2019

7.2% 2020

7% 2021

6.3% 2022

5.9% 2023

5.9% 2024

6.6% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - Single-tenant retail building is 100% occupied under a triple-net lease.

Where is this nnn property located?

The property is located at 1028 S Conkling St Baltimore, MD.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Triple‑net leased, single‑tenant retail building; 100% occupied by the current tenant