Station North Retail/Industrial
For Sale
$425,000
2011-2017 Maryland Avenue, Baltimore, MD 21218
Freestanding 5,550 SF building in Station North Arts District.
Property Size5,550 SF
Price / SF$76.58
Days on Market156
Property Features for 2011-2017 Maryland Avenue
General Information
Standard status
Active
Size
5,550 SF
Property subtype
Industrial, Retail
Zoning
C-1 (NEIGHBORHOOD BUSINESS DISTRICT)
Building Details
Building Size
5,550 SF
Listing Agency:
MacKenzie Commercial Real Estate - Corporate
Listed By:
Chris Walsh
(410) 494-4857
Source:
Mackenziecommercial
Added: Apr 3
Changed: Aug 10
Last Checked: Sep 4 at 2:08AM
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 MacKenzie Commercial Real Estate - Corporate
Investment Insights
Based on property information with market context.
A freestanding retail/industrial building, situated at 2011-2017 Maryland Avenue in Baltimore's Station North Arts District, is available for sale. The one-story property provides approximately 5,550 square feet of space. A roll-up garage door is located at the rear of the building, providing alley access. The property includes a dedicated parking area adjacent to the building. Multiple entry and exit points are available. This versatile space is suitable for various uses, including retail, a brewery, restaurant, or storage facility, presenting a unique opportunity in the Station North area.
Key Highlights
- Located in the vibrant Station North Arts District.
- Approximately 5,550 square feet of one‑story space.
- Versatile space suitable for retail, brewery, restaurant, or storage.
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
$30,643
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
7.21%
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%
$612,860
$612.9K
Cap Rate 7%
$437,757
$437.8K
Cap Rate 9%
$340,478
$340.5K
Market Conditions
NOI Build-Up for 5,550 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
$46.6K $8.40/SF
− Vacancy
−$2.8K −$0.51/SF
EGI
$43.8K $7.89/SF
− OpEx
−$13.1K −$2.37/SF
NOI
$30.6K $5.52/SF
Area
ZIP 21218
Vacancy
6.10%
Lease Rate
$8.40 /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%
$612,860
Cap Rate 7%
$437,757
Cap Rate 9%
$340,478
Alternative Uses
Best Use
Mixed Use
$1.05M
$915.8K – $1.22M
NOI $73,260 @ 7.0% cap · market cap 17.24%
Second Best
Specialty Retail
$936.2K
$819.2K – $1.09M
NOI $65,534 @ 7.0% cap · market cap 15.42%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,628 @ 7.0% cap · market cap 24.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,961
Businesses Nearby
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
Market
Vacancy Rate% for Industrial in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Freestanding 5,550 SF building in Station North Arts District.
Where is this mixed-use property located?
The property is located at 2011-2017 Maryland Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Located in the vibrant Station North Arts District.; Approximately **5,550 square feet of one‑story space.**; Versatile space suitable for retail, brewery, restaurant, or storage.
