Corner SkyTown
For Sale
$519,900
1200 STEUART STREET Unit 1035, Baltimore, MD 21230
Corner, three-level SkyTown home with two outdoor areas, Brazilian Ash flooring, and two assigned garage spaces.
Property Size2,308 SF
Price / SF$225.26
Days on Market148
Property Features for 1200 STEUART STREET Unit 1035
General Information
Standard status
Active
Size
2,308 SF
Total Parking Spaces
2
Property subtype
Penthouse Unit/Flat/Apartment
Financials
Asking Price
$519,900
HOA Fee
$1,100
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$13,358
Amenities
24-hour front desk
package services
onsite management
controlled access garage parking
guest parking
fitness center
yoga spaces
wellness level
sky lounge
community courtyard
Building Details
Building Size
2,308 SF
Year Built
2008
Listing Agency:
Compass
(410) 952-8640
Listed By:
Kyle Shay · License #0667868
(410) 952-8640
Source:
Thehulsmangroup
Added: Mar 27
Changed: Aug 20
Last Checked: Aug 20 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 Compass
Investment Insights
Based on property information with market context.
Corner SkyTown residence at Silo Point offers townhouse-like scale with luxury condominium services. The three-level layout includes two bedrooms, two full and one half bathrooms, a flexible den and bonus room, and an in-unit storage room. Interior finishes include Brazilian Ash flooring, fresh paint, custom closet and storage systems, and new bedroom windows, with a renovated primary bathroom. Two distinct outdoor areas provide space to enjoy the courtyard and a private primary-level terrace.
The main living level opens to a dedicated outdoor area with direct access to the community courtyard. The private primary level includes its own terrace. The home also includes two assigned garage spaces.
Residents benefit from a full-service condominium experience with a 24-hour front desk and package services, onsite management, controlled access garage parking, guest parking, fitness and yoga spaces, the Catacombs wellness level, and the 19th floor Sky Lounge with city and harbor views. The building was built in 2008, and the association includes parking, water, sewer, reserve funding, building insurance, exterior maintenance, trash, and snow removal.
The main living level opens to a dedicated outdoor area with direct access to the community courtyard. The private primary level includes its own terrace. The home also includes two assigned garage spaces.
Residents benefit from a full-service condominium experience with a 24-hour front desk and package services, onsite management, controlled access garage parking, guest parking, fitness and yoga spaces, the Catacombs wellness level, and the 19th floor Sky Lounge with city and harbor views. The building was built in 2008, and the association includes parking, water, sewer, reserve funding, building insurance, exterior maintenance, trash, and snow removal.
Key Highlights
- Corner SkyTown three‑level home at Silo Point
- 2,308 SF corner residence with two bedrooms and flexible den
- Two distinct outdoor areas, including a private primary terrace
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
$30,070
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
5.78%
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%
$601,400
$601.4K
Cap Rate 7%
$429,571
$429.6K
Cap Rate 9%
$334,111
$334.1K
Market Conditions
NOI Build-Up for 2,308 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
$58.2K $25.20/SF
− Vacancy
−$3.5K −$1.51/SF
EGI
$54.7K $23.69/SF
− OpEx
−$24.6K −$10.66/SF
NOI
$30.1K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$601,400
Cap Rate 7%
$429,571
Cap Rate 9%
$334,111
Alternative Uses
Best Use
Apartment 5plus
$429.6K
$375.9K – $501.2K
NOI $30,070 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$552.9K
$483.8K – $645.1K
NOI $38,705 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
557
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner, three-level SkyTown home with two outdoor areas, Brazilian Ash flooring, and two assigned garage spaces.
Where is this residential income property located?
The property is located at 1200 STEUART STREET Unit 1035 Baltimore, MD.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Corner SkyTown three‑level home at Silo Point; 2,308 SF corner residence with two bedrooms and flexible den; Two distinct outdoor areas, including a private primary terrace
