Building Details

Year Built 1950

Listing Agency: Cummings & Co. Realtors r***@cummingsrealtors.com Show Phone

Listed By: Ricky Nelson · License #636873 Show Phone

Source: Cummingsrealtors

Added: Aug 26 Changed: Oct 15 Last Checked: Oct 14 at 11:27PM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 2,748-square-foot medical office property in Baltimore includes three exam rooms, three private offices, two bathrooms, and a kitchen area. The building also provides usable space upstairs and a full basement for storage or operational support. An ADA-compliant ramp improves accessibility, while the existing layout supports professional or medical office functions.

The property was built in 1950 and includes a large parking lot with 15 dedicated spaces for clients and staff. Its combination of patient-oriented rooms, private offices, support areas, and supplemental storage creates a practical configuration for an established or expanding office operation.

Key Highlights

• Three exam rooms, three private offices, two bathrooms, and a kitchen area
• Additional upstairs space plus a full basement for storage
• ADA‑compliant ramp provides accessible entry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,205

Suggested Prices Based on Cap Rates

Cap Rate 5%

$764,100 $764.1K

Cap Rate 7%

$545,786 $545.8K

Cap Rate 9%

$424,500 $424.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,748 SF

Gross rent

$61.0K $22.20/SF

− Vacancy

−$10.1K −$3.66/SF

EGI

$50.9K $18.54/SF

− OpEx

−$12.7K −$4.63/SF

NOI

$38.2K $13.90/SF

Area

Baltimore, MD

Vacancy

16.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$764,100

Cap Rate 7%

$545,786

Cap Rate 9%

$424,500

Alternative Uses

Best Use

Healthcare Medical

$569.0K

$497.9K – $663.8K (±1% cap)

NOI $39,828 @ 7.0% cap · market cap 1,373.38%

Second Best

Office B

$545.8K

$477.6K – $636.8K (±1% cap)

NOI $38,205 @ 7.0% cap · market cap 1,317.41%

Theoretical Best

Office A

$658.3K

$576.1K – $768.1K (±1% cap)

NOI $46,084 @ 7.0% cap · market cap 1,589.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Rosedale Medical Center Physician Dr. Asima Rahman, ... Physician

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Law Firm Dental Office Electrical Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

466

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 21237, MD

31,477

Population

13,171

Households

2.4

Avg Household Size

39

Median Age

27%

College-Educated

92%

High-School Grad

11.3 sq mi

ZIP Area

2,786

Density / Sq Mi

$90,269

Median Household Income

$52,070

Median Earnings

$1,440

Median Rent

$280,400

Median Home Value

Market

Vacancy Rate% for Office in Baltimore, MD

12.4% 2019

13.1% 2020

13% 2021

14.5% 2022

17.1% 2023

16.3% 2024

17.2% 2025

Similar For Sale Nearby

See more

Newly Renovated Office Suites

720 MONTFORD AVENUE S #100, Baltimore, MD 21224

Contact for pricing

3,300 SF

View details

Third-Floor Medical Office Unit

3350 WILKENS AVENUE #303, Baltimore, MD 21229

Contact for pricing

2,319 SF

View details

Federal-Style Office Building

204 E 25th St, Baltimore, MD 21218

$245,000

2,640 SF

View details

Renovated Office Space with Parking

2301 Russell St, Baltimore, MD 21230

$900,000

2,633 SF

View details

Renovated Retail/Office Suite

227 W MULBERRY STREET, Baltimore, MD 21201

Contact for pricing

1,800 SF

View details

First-Floor Office Suite with Furnishings

26 W 25TH STREET 1ST FLOOR SUITE, Baltimore, MD 21218

Contact for pricing

4,180 SF

View details

Renovated Mixed-Use Building

1049 S Charles St, Baltimore, MD 21230

$550,000

3,104 SF

View details

Mixed-Use Property Package

1924 Fleet St, Baltimore, MD 21231

$459,900

2,390 SF

View details

Three-Story Mixed-Use Property

8725 Belair Rd, Baltimore, MD 21236

$599,333

2,388 SF

View details

Ritchie Highway Commercial Opportunity

5410 Ritchie Highway, Baltimore, MD 21225

$899,000

3,200 SF

View details

Commercial Property in Bustling Business District

1424 E Joppa Rd, Baltimore, MD 21286

$385,000

2,145 SF

View details

Multi-Floor Office Units

6603 York Road, Baltimore, MD 21212

Contact for pricing

9,650 SF

View details

Similar Off Market Nearby

• Rosedale Animal Hospital — 7611 Philadelphia Rd, Baltimore, MD 21237

Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical-oriented layout includes exam rooms, private offices, support areas, and additional upper-level space.

Where is this medical office space located?

The property is located at 1224 CHESACO AVENUE Baltimore, MD.

What are key features of this property?

This property features: Three exam rooms, three private offices, two bathrooms, and a kitchen area; Additional upstairs space plus a full basement for storage; ADA‑compliant ramp provides accessible entry