Mixed-Use Property with
151 N HIGHLAND AVENUE, Baltimore, MD 21224
For Sale
$324,900
Ground-floor office space is complemented by an upstairs residence and basement storage.
Property Size2,054 SF
Days on Market52
Property Features for 151 N HIGHLAND AVENUE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listing Agency:
Keller Williams Gateway LLC
Listed By:
Simon P Tenezaca Huerta I · License MD #5012848
(443) 804-6824
Source:
Thehulsmangroup
Added: Sep 24
Changed: Nov 13
Last Checked: Nov 12 at 1:55PM
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 Gateway LLC
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Investment Insights
Based on property information with market context.
This Baltimore property combines commercial space on the ground floor with a residential apartment above. The first level is arranged as office space and includes a bathroom; basement space provides storage. Upstairs, the apartment has a bedroom, kitchen, and full bathroom. The first-floor layout may be adapted for other commercial uses, subject to zoning, licensing, and required approvals.
Work completed in 2023 included interior painting, drywall work, a remodeled first-floor bathroom, new carpet, electrical and plumbing improvements, door replacement or installation, and additional repairs and finishes on both floors.
Work completed in 2023 included interior painting, drywall work, a remodeled first-floor bathroom, new carpet, electrical and plumbing improvements, door replacement or installation, and additional repairs and finishes on both floors.
Key Highlights
- Two‑story mixed‑use configuration with commercial space below and an apartment above
- Ground floor currently arranged as office space with a bathroom
- Upstairs apartment includes a bedroom, kitchen, and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,956
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,120
$499.1K
Cap Rate 7%
$356,514
$356.5K
Cap Rate 9%
$277,289
$277.3K
Market Conditions
NOI Build-Up for 2,054 SF
Gross rent
$44.4K $21.60/SF
− Vacancy
−$4.4K −$2.16/SF
EGI
$39.9K $19.44/SF
− OpEx
−$15.0K −$7.29/SF
NOI
$25.0K $12.15/SF
Area
ZIP 21224
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,120
Cap Rate 7%
$356,514
Cap Rate 9%
$277,289
Alternative Uses
Best Use
Mixed Use
$356.5K
$312.0K – $415.9K
NOI $24,956 @ 7.0% cap · market cap 7.68%
Second Best
Retail
$353.0K
$308.9K – $411.9K
NOI $24,711 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$492.1K
$430.6K – $574.1K
NOI $34,446 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,531
Businesses Nearby
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Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Baltimore, MD
Properties on Market for Mixed-use properties in Baltimore
Vacancy Rate% for Retail in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor office space is complemented by an upstairs residence and basement storage.
Where is this mixed-use property located?
The property is located at 151 N HIGHLAND AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two‑story mixed‑use configuration with commercial space below and an apartment above; Ground floor currently arranged as office space with a bathroom; Upstairs apartment includes a bedroom, kitchen, and full bathroom
