Remodeled Ground-Floor Medical
For Sale
$275,000
103-723 S Charles St, Baltimore, MD 21201
Remodeled in 2023 with newer HVAC and an accessible layout featuring multiple egress points.
Property Size1,169 SF
Price / SF$235.24
Days on Market201
Property Features for 103-723 S Charles St
General Information
Standard status
Active
Size
1,169 SF
Zoning
OR
Additional Details
Opportunity Zone
Yes
Office Units
6
Building Details
Year Renovated
2023
Listing Agency:
Samson Properties
(240) 413-6252
Listed By:
Keith A Hawkins · License #0225243770
(240) 413-6252
Source:
Exprealty
Added: Jan 14
Changed: Jul 10
Last Checked: Jul 31 at 6:09PM
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 Samson Properties
Investment Insights
Based on property information with market context.
Unit 103 is a 1,169 SF ground-level commercial space that was remodeled in 2023. The unit is constructed of block and brick and includes a newer HVAC system. Inside, the layout features six private rooms suited for offices, exam rooms, or consulting, plus one bathroom and a dedicated laundry room. Four of the rooms have built-in electric fireplaces that convey with the sale.
The property is located on the ground floor of a well-maintained building with 12 one-bedroom residential units above. The unit is fully wheelchair accessible and designed with four separate points of egress, including two exits directly to the parking lot, one exit to E. Hughes Street, and one interior exit through the atrium with direct access to Charles Street.
Zoned OR (Office–Residential), the space can only be used for commercial purposes and not residential. The building’s configuration and unit-level improvements can support a broad set of professional and institutional uses, including medical and dental offices, professional and counseling services, insurance agencies, nonprofit and administrative offices, and educational or training facilities. A condo fee of $500 per month applies.
The property is located on the ground floor of a well-maintained building with 12 one-bedroom residential units above. The unit is fully wheelchair accessible and designed with four separate points of egress, including two exits directly to the parking lot, one exit to E. Hughes Street, and one interior exit through the atrium with direct access to Charles Street.
Zoned OR (Office–Residential), the space can only be used for commercial purposes and not residential. The building’s configuration and unit-level improvements can support a broad set of professional and institutional uses, including medical and dental offices, professional and counseling services, insurance agencies, nonprofit and administrative offices, and educational or training facilities. A condo fee of $500 per month applies.
Key Highlights
- Unit 103: 1,169 SF ground‑level commercial condo in Federal Hill, built of block and brick
- Remodeled in 2023 with a newer HVAC system to help reduce near‑term capital expenditures
- OR zoning (Office–Residential): can only be used for commercial, not residential
Financial Insights For Healthcare Medical
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 | $30.9k | $26.40 |
| − Vacancy | −$2.6k | −$2.24 |
| EGI | $28.2k | $24.16 |
| − OpEx | −$11.3k | −$9.66 |
| NOI | $16.9k | $14.49 |
1,169 SF · lease $26.40/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$242.0K
$211.8K – $282.4K
NOI $16,943 @ 7.0% cap · market cap 6.16%
Second Best
Office B
$232.2K
$203.2K – $270.9K
NOI $16,252 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$280.1K
$245.1K – $326.7K
NOI $19,604 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
11,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 21201, MD
18,382
Population
11,468
Households
1.6
Avg Household Size
34
Median Age
47%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
14,140
Density / Sq Mi
$44,722
Median Household Income
$44,239
Median Earnings
$1,282
Median Rent
$221,900
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?
Office units - Remodeled in 2023 with newer HVAC and an accessible layout featuring multiple egress points.
Where is this office units located?
The property is located at 103-723 S Charles St Baltimore, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Unit 103: 1,169 SF ground‑level commercial condo in Federal Hill, built of block and brick; Remodeled in 2023 with a newer HVAC system to help reduce near‑term capital expenditures; OR zoning (Office–Residential): can only be used for commercial, not residential
