Mixed-Use Entertainment
For Sale
$999,990
1728 N CHARLES Street N, Baltimore, MD 21201
Multi-Family, BALTIMORE, MD
Property Size3,770 SF
Lot Size0.04 Acres
Price / SF$265.25
Days on Market47
Property Features for 1728 N CHARLES Street N
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Subdivision
STATION NORTH ARTS DISTRICT
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
3,770 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5445
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Brian J McGeehan · License #594598
(443) 690-5752
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 25 at 12:06AM
MLS# MDBA2222934
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property contains 3,770 square feet across a street-level entertainment venue and two residential apartments. The commercial portion includes a performance area, DJ and sound booth, bar area, and alley access. The sale includes business assets, equipment, and licenses associated with the operating venue. Central air and heat pump heating serve the building, which was constructed in 1900.
Located on North Charles Street in Baltimore’s Station North Arts District, the property offers street-level commercial space with on-street parking. The two apartments provide additional residential space within the same building, supporting a combined entertainment and residential configuration.
Located on North Charles Street in Baltimore’s Station North Arts District, the property offers street-level commercial space with on-street parking. The two apartments provide additional residential space within the same building, supporting a combined entertainment and residential configuration.
Key Highlights
- 3,770‑square‑foot mixed‑use property with street‑level commercial space and two residential apartments
- Active music venue with performance area, DJ/sound booth, and full‑service bar
- Sale includes business assets, equipment, and licenses
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
$60,921
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
6.09%
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%
$1,218,420
$1.2M
Cap Rate 7%
$870,300
$870.3K
Cap Rate 9%
$676,900
$676.9K
Market Conditions
NOI Build-Up for 3,770 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
$86.0K $22.80/SF
− Vacancy
−$4.7K −$1.25/SF
EGI
$81.2K $21.55/SF
− OpEx
−$20.3K −$5.39/SF
NOI
$60.9K $16.16/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.80 /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%
$1,218,420
Cap Rate 7%
$870,300
Cap Rate 9%
$676,900
Alternative Uses
Best Use
Specialty Retail
$870.3K
$761.5K – $1.02M
NOI $60,921 @ 7.0% cap · market cap 6.09%
Second Best
Mixed Use
$743.2K
$650.3K – $867.1K
NOI $52,026 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$903.2K
$790.3K – $1.05M
NOI $63,223 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,263
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property with an active music venue, full-service bar, and two apartments in Baltimore’s Station North Arts District.
Where is this mixed-use 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: 3,770‑square‑foot mixed‑use property with street‑level commercial space and two residential apartments; Active music venue with performance area, DJ/sound booth, and full‑service bar; Sale includes business assets, equipment, and licenses
