Retail Storefront Near Penn
For Sale
$999,990
1728 N CHARLES STREET N, Baltimore, MD 21201
Retail storefront property located one block north of Penn Station on North Charles Street.
Property Size4,850 SF
Days on Market52
Property Features for 1728 N CHARLES STREET N
General Information
Standard status
Active
Size
4,850 SF
Zoning
TOD-4
Taxes and HOA fees
Annual Taxes
$5,445
Amenities
Central Air, Electric
Electric, Heat Pump
Electric Water Heater
On Street
Building Details
Building Size
4,850 SF
Year Built
1900
Stories
4
Listing Agency:
Cummings & Co. Realtors
Listed By:
Brian J McGeehan · License #594598
(443) 690-5752
Source:
Evrealestate
Added: Jul 18
Changed: Sep 6
Last Checked: Sep 7 at 5:07AM
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
Investment Insights
Based on property information with market context.
This retail storefront property is offered for sale and is situated along North Charles Street in Baltimore City.
Per the provided directions, the location is one block north of Penn Station, on the left just before Lafayette.
The offering is presented as a storefront-type commercial real estate asset, suitable for retail use depending on buyer requirements and applicable approvals.
Per the provided directions, the location is one block north of Penn Station, on the left just before Lafayette.
The offering is presented as a storefront-type commercial real estate asset, suitable for retail use depending on buyer requirements and applicable approvals.
Key Highlights
- Retail storefront on North Charles Street, one block north of Penn Station
- Central air cooling with electric heating and heat pump
- On‑street parking
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
6.86%
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 4,850 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
$104.8K $21.60/SF
− Vacancy
−$6.7K −$1.38/SF
EGI
$98.1K $20.22/SF
− OpEx
−$29.4K −$6.07/SF
NOI
$68.6K $14.15/SF
Area
Baltimore, MD
Vacancy
6.39%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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
Retail
$980.7K
$858.1K – $1.14M
NOI $68,646 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,335 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,568
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21201, MD
18,382
Population
11,468
Households
1.6
Avg Household Size
34
Median Age
47%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
14,140
Density / Sq Mi
$44,722
Median Household Income
$44,239
Median Earnings
$1,282
Median Rent
$221,900
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail storefront property located one block north of Penn Station on North Charles Street.
Where is this storefront property located?
The property is located at 1728 N CHARLES STREET N Baltimore, MD.
What is the asking price?
The asking price for this property is $999,990.
What are key features of this property?
This property features: Retail storefront on North Charles Street, one block north of Penn Station; Central air cooling with electric heating and heat pump; On‑street parking
