Mixed-Use Retail and
For Sale
$300,000
1110 CATHEDRAL STREET, Baltimore, MD 21201
Three-story mixed-use building with separate entrances, retail on the first floor, and a lead-free renovated 1BD/1BA above.
Property Size1,361 SF
Days on Market192
Property Features for 1110 CATHEDRAL STREET
General Information
Standard status
Active
Size
1,361 SF
Property subtype
MixedUse
Occupancy
100%
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,887
Amenities
courtyard
washer/dryer
stainless steel appliances
basement storage
Building Details
Building Size
1,361 SF
Year Built
1900
Stories
3
Listing Agency:
Cummings & Co Realtors
Listed By:
Matthew E Garono · License #627356
(410) 688-5285
Source:
Thehulsmangroup
Added: Feb 25
Changed: Sep 5
Last Checked: Sep 5 at 5:16AM
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.
1110 Cathedral St is a 100% occupied three-story mixed-use building configured with a retail storefront on the first floor and a 1BD/1BA apartment above. The property has separate front entrances for the retail and apartment spaces, along with a courtyard and rear access space for the commercial portion. The first floor features an open layout with LVT flooring, exposed brick and beams, a bathroom, and a basement area for storage.
The second and third floors have been fully renovated and are certified lead-free. The second floor provides an open living room and kitchen with vinyl flooring and carpet, including a washer/dryer and stainless steel appliances. The third floor includes a large one-bedroom open layout with a ceramic tile bath and shower.
The building offers a functional split between commercial and residential spaces, supported by separate access points and dedicated rear/courtyard area for the retail use.
The second and third floors have been fully renovated and are certified lead-free. The second floor provides an open living room and kitchen with vinyl flooring and carpet, including a washer/dryer and stainless steel appliances. The third floor includes a large one-bedroom open layout with a ceramic tile bath and shower.
The building offers a functional split between commercial and residential spaces, supported by separate access points and dedicated rear/courtyard area for the retail use.
Key Highlights
- 100% occupied mixed‑use building with retail on the first floor and a 1BD/1BA apartment above
- Separate front entrances for the retail space and the apartment, plus a courtyard and rear access for the commercial area
- First‑floor retail features an open layout with LVT flooring, exposed brick and beams, a bathroom, and basement storage
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
$19,263
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
6.42%
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%
$385,260
$385.3K
Cap Rate 7%
$275,186
$275.2K
Cap Rate 9%
$214,033
$214.0K
Market Conditions
NOI Build-Up for 1,361 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
$29.4K $21.60/SF
− Vacancy
−$1.9K −$1.38/SF
EGI
$27.5K $20.22/SF
− OpEx
−$8.3K −$6.07/SF
NOI
$19.3K $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%
$385,260
Cap Rate 7%
$275,186
Cap Rate 9%
$214,033
Alternative Uses
Best Use
Retail
$275.2K
$240.8K – $321.1K
NOI $19,263 @ 7.0% cap · market cap 6.42%
Second Best
Mixed Use
$268.3K
$234.8K – $313.0K
NOI $18,782 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$326.1K
$285.3K – $380.4K
NOI $22,824 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,545
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 Retail in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building with separate entrances, retail on the first floor, and a lead-free renovated 1BD/1BA above.
Where is this mixed-use property located?
The property is located at 1110 CATHEDRAL STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 100% occupied mixed‑use building with retail on the first floor and a 1BD/1BA apartment above; Separate front entrances for the retail space and the apartment, plus a courtyard and rear access for the commercial area; First‑floor retail features an open layout with LVT flooring, exposed brick and beams, a bathroom, and basement storage
