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 Market822
Property Features for 111 Mercer St
General Information
Standard status
Active
Size
3,345 SF
Lot size
0.03 Acres
Property subtype
RETAIL
Listing Agency:
Greysteel | Dallas
(410) 227-7342
Listed By:
Benjamin Wilson · License #649631
(410) 227-7342
Source:
Moodyscre
Added: Apr 30, 2024
Changed: Jul 6
Last Checked: Jul 21 at 3:15AM
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
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 For Specialty Retail
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 | $76.3k | $22.80 |
| − Vacancy | −$4.2k | −$1.25 |
| EGI | $72.1k | $21.55 |
| − OpEx | −$18.0k | −$5.39 |
| NOI | $54.1k | $16.16 |
3,345 SF · lease $22.80/SF/yr · vacancy 5.50% · expense 25.00%
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,657
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
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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.
