Office Unit with Park
New
For Sale
Contact for pricing
2 S PATTERSON PARK AVENUE #1A, Baltimore, MD 21231
The suite has two office rooms, a kitchenette, and a half bath, with shared lobby space for visitors.
Property Size4,240 SF
Price / SF$0.40
Days on Market4
Property Features for 2 S PATTERSON PARK AVENUE #1A
General Information
Standard status
Active
Size
4,240 SF
Property subtype
Commercial
Site & Location
Neighborhood
Butchers Hill
Additional Details
Floor
Ground
Property Use
Office
Amenities
half bath
kitchenette
shared lobby/waiting area
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 5:31PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,240-square-foot office unit occupies the ground floor of a brick building constructed in 1920. Its layout includes two office rooms, a half bath, and a kitchenette, with access to a shared lobby and waiting area.
The unit faces Patterson Park and is located at 2 S Patterson Park Avenue in Baltimore. On-street parking is available.
The unit faces Patterson Park and is located at 2 S Patterson Park Avenue in Baltimore. On-street parking is available.
Key Highlights
- 4,240‑square‑foot ground‑floor office unit
- Two office rooms, a half bath, and a kitchenette
- Shared lobby and waiting area
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.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,015
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Office unit - The suite has two office rooms, a kitchenette, and a half bath, with shared lobby space for visitors.
Where is this office unit located?
The property is located at 2 S PATTERSON PARK AVENUE #1A Baltimore, MD.
What are key features of this property?
This property features: 4,240‑square‑foot ground‑floor office unit; Two office rooms, a half bath, and a kitchenette; Shared lobby and waiting area
