Brick Townhome Office in
For Sale
$699,900
1437 E FORT AVENUE, Baltimore, MD 21230
Spacious townhome office in Locust Point, Baltimore, near I-95.
Property Size3,360 SF
Days on Market141
Property Features for 1437 E FORT AVENUE
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$10,088
Building Details
Building Size
3,360 SF
Year Built
1905
Listing Agency:
Monument Sotheby's International Realty
(410) 456-8449
Listed By:
Paul A Sudano
(410) 456-8449
Source:
Barnesrealestatecompany
Added: Apr 13
Changed: Aug 23
Last Checked: Aug 30 at 9:08PM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This spacious double-wide, brick townhome office is suitable for insurance, financial, or retail use. Located in the Locust Point neighborhood, the property features random plank floors, exposed brick, and a back patio. The first floor includes a welcoming seating area, reception desk, a conference room adjacent to two offices, a powder room, and a kitchen. The second floor offers four private offices, one loft office, a full bath, and a bright lounge area. A glass roof lantern provides natural light to the middle of the office and down to the first floor. The location provides convenient access to I-95, I-295, and BWI Airport. Free parking is available around the building. The property has a bike score of 66, a walk score of 96, and a transit score of 71.
Key Highlights
- Prime location in Locust Point with excellent walkability (Walk Score: 96) and transit options (Transit Score: 71).
- Ideal for live/work setup or professional office space (insurance, financial, retail).
- Convenient access to I‑95, I‑295, and BWI Airport.
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
$46,713
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
6.67%
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%
$934,260
$934.3K
Cap Rate 7%
$667,329
$667.3K
Cap Rate 9%
$519,033
$519.0K
Market Conditions
NOI Build-Up for 3,360 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
$74.6K $22.20/SF
− Vacancy
−$12.3K −$3.66/SF
EGI
$62.3K $18.54/SF
− OpEx
−$15.6K −$4.63/SF
NOI
$46.7K $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 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%
$934,260
Cap Rate 7%
$667,329
Cap Rate 9%
$519,033
Alternative Uses
Best Use
Office B
$667.3K
$583.9K – $778.6K
NOI $46,713 @ 7.0% cap · market cap 6.67%
Second Best
Mixed Use
$662.4K
$579.6K – $772.8K
NOI $46,368 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$805.0K
$704.3K – $939.1K
NOI $56,347 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
794
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
Market
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Spacious townhome office in Locust Point, Baltimore, near I-95.
Where is this office units located?
The property is located at 1437 E FORT AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Prime location in Locust Point with excellent walkability (Walk Score: 96) and transit options (Transit Score: 71).; Ideal for live/work setup or professional office space (insurance, financial, retail).; Convenient access to I‑95, I‑295, and BWI Airport.
