Warehouse and Office Space
1503 WILMINGTON AVENUE Baltimore, MD 21230
For Sale
$450,000
3,500 sqft warehouse and office space with multiple entrances.
Property Size3,500 SF
Lot Size0.14 Acres
Price / SF$128.57
Days on Market666
Property Features for 1503 WILMINGTON AVENUE
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.14 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
2009
Listing Agency:
Keller Williams Main Line
(484) 340-0598
Listed By:
Michael J Fiteni · License #5008303
(484) 340-0598
Source:
Exitrealty
Added: Oct 1, 2024
Changed: Jul 6
Last Checked: Jul 28 at 6:29AM
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 Main Line
Investment Insights
Based on property information with market context.
This property features approximately 3,500 square feet of warehouse and office space. It includes three separate entrances located at the front and rear of the building. The existing office space can be converted back into warehouse space. Improvements can be made to the rear and front of the building, including the addition of a mezzanine. The property is currently under a two-year lease, which began in November 2024 and ends in November 2025, with a monthly rent of $4,000 on a triple net lease basis. This mid-sized warehouse is situated on a quiet, dead-end street.
Key Highlights
- 3,500 sqft warehouse and office space with conversion potential.
- Income‑generating property: Currently rented at $4,000/month on a triple net lease (Nov 24‑25).
- Three separate entrances (front and rear) for flexible access.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.4k | $8.40 |
| − Vacancy | −$2.3k | −$0.65 |
| EGI | $27.1k | $7.75 |
| − OpEx | −$4.1k | −$1.16 |
| NOI | $23.1k | $6.59 |
3,500 SF · lease $8.40/SF/yr · vacancy 7.76% · expense 15.00%
Alternative Uses
Best Use
Office B
$695.1K
$608.3K – $811.0K
NOI $48,660 @ 7.0% cap · market cap 10.81%
Second Best
Warehouse
$329.3K
$288.1K – $384.2K
NOI $23,051 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$838.5K
$733.7K – $978.3K
NOI $58,695 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Extra Space Storage — 707 S Caton Ave, Baltimore, MD 21229
- Iron Mountain — 3101 Wilmarco Ave, Baltimore, MD 21223
- Caton-Wilkens Mini Storage — Baltimore, MD 21229
- Self-Storage at U-Haul — 2929 Washington Blvd, Baltimore, MD 21230
- Prime Storage — 3220 Wilkens Ave, Baltimore, MD 21229
Frequently Asked Questions
What type of property is this?
Warehouse - 3,500 sqft warehouse and office space with multiple entrances.
Where is this warehouse located?
The property is located at 1503 WILMINGTON AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,500 sqft warehouse and office space with conversion potential.; Income‑generating property: Currently rented at $4,000/month on a triple net lease (Nov 24‑25).; Three separate entrances (front and rear) for flexible access.
