Garage-Style Self Storage
1206 S CAREY ST, Baltimore, MD 21230
For Sale
$225,000
Existing utility service supports a compact storage operation in Baltimore.
Property Size2,000 SF
Price / SF$112.50
Days on Market55
Property Features for 1206 S CAREY ST
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Net Operating Income
Site & Location
Neighborhood
Utilities to Site
Additional Details
Gross Income
Self-Storage Units
Building Details
Year Built
Listing Agency:
Keller Williams Select Realtors of Annapolis
(410) 972-4000
Listed By:
Brandi Bradshaw · License MD #0660582
(410) 212-4235
Source:
Cummingsrealtors
Added: Sep 17
Changed: Nov 8
Last Checked: Nov 10 at 7:27AM
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 Keller Williams Select Realtors of Annapolis
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Investment Insights
Based on property information with market context.
This 2,000-square-foot self storage property contains 10 garage-style units, including 2 larger units and 8 smaller units. The facility is currently used as a storage business and was built in 1970. Electric and water service are present on the property.
The asset consists of 2 tax records and is residentially zoned. Located in Baltimore, the property offers an established small-format storage configuration with a projected 9.4% cap rate.
The asset consists of 2 tax records and is residentially zoned. Located in Baltimore, the property offers an established small-format storage configuration with a projected 9.4% cap rate.
Key Highlights
- 10 storage units: 2 larger units and 8 smaller garage‑style units
- 2,000 SF self storage facility
- Residentially zoned property with an existing storage use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,186
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,720
$343.7K
Cap Rate 7%
$245,514
$245.5K
Cap Rate 9%
$190,956
$191.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$26.4K $13.20/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$24.6K $12.28/SF
− OpEx
−$7.4K −$3.68/SF
NOI
$17.2K $8.59/SF
Area
Baltimore, MD
Vacancy
7.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,720
Cap Rate 7%
$245,514
Cap Rate 9%
$190,956
Alternative Uses
Best Use
Self Storage
$245.5K
$214.8K – $286.4K
NOI $17,186 @ 7.0% cap · market cap 7.64%
Second Best
Warehouse
$188.2K
$164.7K – $219.5K
NOI $13,172 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$479.1K
$419.3K – $559.0K
NOI $33,540 @ 7.0% cap · market cap 14.91%
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
Lease Details
75%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,457
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Self storage facility - Existing utility service supports a compact storage operation in Baltimore.
Where is this self storage facility located?
The property is located at 1206 S CAREY ST Baltimore, MD.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 10 storage units: 2 larger units and 8 smaller garage‑style units; 2,000 SF self storage facility; Residentially zoned property with an existing storage use
