Office Unit with
New
For Sale
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2 S PATTERSON PARK AVENUE, Baltimore, MD 21231
Ground-level workspace includes two office rooms and access to a shared waiting area.
Property Size4,240 SF
Price / SF$0.40
Days on Market4
Property Features for 2 S PATTERSON PARK AVENUE
General Information
Standard status
Active
Size
4,240 SF
Property subtype
Commercial
Site & Location
Neighborhood
Butchers Hill
Additional Details
Floor
Ground Floor
Property Use
Office
Building Details
Year Built
1920
Construction
brick
Listing Agency:
Compass
(410) 886-7342
Listed By:
Christina M Dudley · License #612287
(443) 803-3876
Source:
Cummingsrealtors
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 24 at 5:49PM
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 Compass
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Investment Insights
Based on property information with market context.
This ground-floor office unit is arranged with two office rooms, a half bath, and a kitchenette. A compact lobby and waiting area is shared. The space is within a brick commercial building constructed in 1920.
On-street parking is available, with local shops, cafes, and eateries nearby. Patterson Park is also in the surrounding area.
On-street parking is available, with local shops, cafes, and eateries nearby. Patterson Park is also in the surrounding area.
Key Highlights
- Two office rooms, a half bath, and kitchenette
- Ground‑level unit with a shared lobby and waiting area
- Located in a brick building constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,948
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,960
$1.2M
Cap Rate 7%
$842,114
$842.1K
Cap Rate 9%
$654,978
$655.0K
Market Conditions
NOI Build-Up for 4,240 SF
Gross rent
$94.1K $22.20/SF
− Vacancy
−$15.5K −$3.66/SF
EGI
$78.6K $18.54/SF
− OpEx
−$19.6K −$4.63/SF
NOI
$58.9K $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 Rate 5%
$1,178,960
Cap Rate 7%
$842,114
Cap Rate 9%
$654,978
Alternative Uses
Best Use
Office B
$842.1K
$736.9K – $982.5K
NOI $58,948 @ 7.0% cap · market cap 3,467.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$888.8K – $1.19M
NOI $71,105 @ 7.0% cap · market cap 4,182.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
7,015
Businesses Nearby
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Business Placement
Demographics for 21231, MD
17,062
Population
9,342
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
18,958
Density / Sq Mi
$85,382
Median Household Income
$67,289
Median Earnings
$1,710
Median Rent
$336,500
Median Home Value
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Market
Vacancy Rate% for Office in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Office unit - Ground-level workspace includes two office rooms and access to a shared waiting area.
Where is this office unit located?
The property is located at 2 S PATTERSON PARK AVENUE Baltimore, MD.
What are key features of this property?
This property features: Two office rooms, a half bath, and kitchenette; Ground‑level unit with a shared lobby and waiting area; Located in a brick building constructed in 1920
