Renovated Mixed-Use
For Sale
$550,000
1049 S Charles St, Baltimore, MD 21230
Three-level property combines a street-facing commercial space with a residential apartment featuring updated finishes and household amenities.
Property Size3,104 SF
Price / SF$177.19
Days on Market21
Property Features for 1049 S Charles St
General Information
Standard status
Active
Size
3,104 SF
Additional Details
Floor
1
Highway Access
Yes
Amenities
store front
storage
public restroom
Building Details
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
Cummings & Co. Realtors
(410) 274-3326
Listed By:
Thomas B Maley · License #656646
Source:
Tbhteam
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 25 at 5:33AM
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.
This renovated mixed-use property is arranged across three levels, with retail or office space on the ground floor and a residence above. The commercial portion includes a storefront, storage, and a large public restroom. The upper residence offers three bedrooms, one and a half baths, hardwood flooring, exposed brick, stainless steel kitchen appliances, and a stacked front-loading washer and dryer. A whirlpool tub adds another residential amenity, while the third bedroom can function as a den or office.
The property is located at 1049 S Charles St in Baltimore, within a half block of Cross Street Market. Federal Hill Park and local businesses are within walking distance, with access to the stadiums, I-295, I-95, and the Inner Harbor.
The property is located at 1049 S Charles St in Baltimore, within a half block of Cross Street Market. Federal Hill Park and local businesses are within walking distance, with access to the stadiums, I-295, I-95, and the Inner Harbor.
Key Highlights
- Three‑level mixed‑use layout with ground‑floor retail or office space
- Upper residence includes 3 bedrooms and 1.5 baths
- Street storefront with storage and a large public restroom
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
$43,933
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
7.99%
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%
$878,660
$878.7K
Cap Rate 7%
$627,614
$627.6K
Cap Rate 9%
$488,144
$488.1K
Market Conditions
NOI Build-Up for 3,104 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
$67.0K $21.60/SF
− Vacancy
−$4.3K −$1.38/SF
EGI
$62.8K $20.22/SF
− OpEx
−$18.8K −$6.07/SF
NOI
$43.9K $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%
$878,660
Cap Rate 7%
$627,614
Cap Rate 9%
$488,144
Alternative Uses
Best Use
Retail
$627.6K
$549.2K – $732.2K
NOI $43,933 @ 7.0% cap · market cap 7.99%
Second Best
Office B
$616.5K
$539.4K – $719.2K
NOI $43,154 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$743.6K
$650.7K – $867.6K
NOI $52,054 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,075
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
Market
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 - Three-level property combines a street-facing commercial space with a residential apartment featuring updated finishes and household amenities.
Where is this mixed-use property located?
The property is located at 1049 S Charles St Baltimore, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑level mixed‑use layout with ground‑floor retail or office space; Upper residence includes 3 bedrooms and 1.5 baths; Street storefront with storage and a large public restroom
