Established Restaurant Near Baltimore
For Sale
Contact for pricing
111 Mercer St, Baltimore, MD
Well-maintained building with successful pub-style restaurant business for sale.
Property Size3,345 SF
Lot Size0.03 Acres
Price / SF$403.59
Days on Market914
Property Features for 111 Mercer St
General Information
Standard status
Active
Size
3,345 SF
Lot size
0.03 Acres
Property subtype
RETAIL
Site & Location
Neighborhood
Downtown
Listing Agency:
Greysteel | Dallas
(469) 518-5040
Listed By:
Benjamin Wilson · License #DC#SP98372489
(410) 227-7342
Source:
Moodyscre
Added: Apr 30, 2024
Changed: Oct 25
Last Checked: Oct 28 at 11:24AM
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 Greysteel | Dallas
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Investment Insights
Based on property information with market context.
This is an opportunity to acquire an exceptionally well-maintained building and established business, a successful pub-style restaurant with an established reputation and track record of profitability since 1974. The property is located a short walk from the Baltimore Inner Harbor. The building has been meticulously maintained by the owner/operator. The property size is 3,345 square feet, presenting an excellent investment opportunity for an operator looking for a strong existing business paired with high-quality real estate.
Key Highlights
- Established and Profitable Business: Peter's Pour House, a successful pub‑style restaurant since 1974, offers a proven track record of profitability.
- Prime Location: Situated a short walk from the Baltimore Inner Harbor, offering high visibility and accessibility.
- Well‑Maintained Building: The property has been meticulously maintained by the owner/operator, ensuring its excellent condition.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,054
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,080
$1.1M
Cap Rate 7%
$772,200
$772.2K
Cap Rate 9%
$600,600
$600.6K
Market Conditions
NOI Build-Up for 3,345 SF
Gross rent
$76.3K $22.80/SF
− Vacancy
−$4.2K −$1.25/SF
EGI
$72.1K $21.55/SF
− OpEx
−$18.0K −$5.39/SF
NOI
$54.1K $16.16/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,080
Cap Rate 7%
$772,200
Cap Rate 9%
$600,600
Alternative Uses
Best Use
Specialty Retail
$772.2K
$675.7K – $900.9K
NOI $54,054 @ 7.0% cap · market cap 4.00%
Second Best
Retail
$676.4K
$591.8K – $789.1K
NOI $47,345 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$801.4K
$701.2K – $934.9K
NOI $56,096 @ 7.0% cap · market cap 4.16%
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
Location Intelligence
Trade Area within ½ mile
9,657
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Pub - Well-maintained building with successful pub-style restaurant business for sale.
Where is this pub located?
The property is located at 111 Mercer St Baltimore, MD.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Established and Profitable Business: Peter's Pour House, a successful pub‑style restaurant since 1974, offers a proven track record of profitability.; Prime Location: Situated a short walk from the Baltimore Inner Harbor, offering high visibility and accessibility.; Well‑Maintained Building: The property has been meticulously maintained by the owner/operator, ensuring its excellent condition.
