Bar with Banquet
For Sale
Contact for pricing
1222 Hull St, Baltimore, MD 21230
The established food-and-beverage business includes event space and is offered with its real estate.
Property Size4,248 SF
Price / SF$397.83
Days on Market9
Property Features for 1222 Hull St
General Information
Standard status
Active
Size
4,248 SF
Property subtype
Retail, Business for Sale
Additional Details
Business Included
Yes
Amenities
banquet facilities
Listing Agency:
DBM Real Estate Group, LLC
Listed By:
Bruce Scherr · License #MD
Source:
Crexi
Added: Sep 19
Changed: Sep 24
Last Checked: Sep 26 at 5:42AM
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 DBM Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This bar and food-service property includes 4,248 square feet of interior space and banquet facilities. The operating business has served customers for more than 42 years, and the real estate is included in the offering.
The property is at 1222 Hull Street in Baltimore’s Locust Point neighborhood. Its setting is described as walkable, with nearby residential and commercial activity and employment centers.
The property is at 1222 Hull Street in Baltimore’s Locust Point neighborhood. Its setting is described as walkable, with nearby residential and commercial activity and employment centers.
Key Highlights
- 4,248 square feet of interior space
- Banquet facilities for private events
- Operating food‑and‑beverage business with more than 42 years of continuous operation
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
$68,646
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
4.06%
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%
$1,372,920
$1.4M
Cap Rate 7%
$980,657
$980.7K
Cap Rate 9%
$762,733
$762.7K
Market Conditions
NOI Build-Up for 4,248 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
$96.9K $22.80/SF
− Vacancy
−$5.3K −$1.25/SF
EGI
$91.5K $21.55/SF
− OpEx
−$22.9K −$5.39/SF
NOI
$68.6K $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 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%
$1,372,920
Cap Rate 7%
$980,657
Cap Rate 9%
$762,733
Alternative Uses
Best Use
Specialty Retail
$980.7K
$858.1K – $1.14M
NOI $68,646 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$890.5K – $1.19M
NOI $71,239 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Well-served
Demand for This Use
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
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
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Frequently Asked Questions
What type of property is this?
Bar & Pub - The established food-and-beverage business includes event space and is offered with its real estate.
Where is this bar & pub located?
The property is located at 1222 Hull St Baltimore, MD.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 4,248 square feet of interior space; Banquet facilities for private events; Operating food‑and‑beverage business with more than 42 years of continuous operation
