Four-Unit Mixed-Use
New
For Sale
$2,400,000
2022 N CHARLES STREET, Baltimore, MD 21218
A 2015 redevelopment combines leased commercial space with restaurant, bar, and performance improvements.
Property Size11,000 SF
Price / SF$218.18
Days on Market4
Property Features for 2022 N CHARLES STREET
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$202,500
Site & Location
Neighborhood
Charles North
Highway Access
Yes
Utilities to Site
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Sprinkler System
Yes
Tenant in Place
Yes
Amenities
basement storage
curbside delivery access
Building Details
Year Built
1900
Year Renovated
2015
Buildings
1
Listing Agency:
Charles Real Estate
(443) 253-3886
Listed By:
Ian C Parrish · License #522835
(410) 592-6481
Source:
Cummingsrealtors
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 2:52PM
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 Charles Real Estate
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Investment Insights
Based on property information with market context.
At 2022 N. Charles Street, this 11,000-square-foot mixed-use property contains four commercial units, currently leased to one tenant under a triple-net lease. Redeveloped in 2015, the building includes a restaurant and bar buildout, nightclub and performance space, retail area, commercial kitchen, separate catering kitchen, four bars, two walk-in coolers, and a large patio. Furniture, fixtures, and equipment convey, including kitchen and bar equipment, sound and AV equipment, and a POS system. Other features include sound-attenuating construction, shared entrances, central restrooms, upgraded utilities, sprinklers, basement storage, and curbside delivery access. Storefront windows face Charles Street; the spaces can function together or separately.
The property is along the Charles Street National Scenic Byway, near Penn Station, I-83, universities, restaurants, and arts and entertainment venues in Station North.
The property is along the Charles Street National Scenic Byway, near Penn Station, I-83, universities, restaurants, and arts and entertainment venues in Station North.
Key Highlights
- 11,000‑square‑foot building with four commercial units
- Redeveloped in 2015; currently leased to one tenant under a triple‑net lease
- Restaurant, bar, nightclub, performance space, retail area, and large outdoor patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,200
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,904,000
$2.9M
Cap Rate 7%
$2,074,286
$2.1M
Cap Rate 9%
$1,613,333
$1.6M
Market Conditions
NOI Build-Up for 11,000 SF
Gross rent
$264.0K $24.00/SF
− Vacancy
−$31.7K −$2.88/SF
EGI
$232.3K $21.12/SF
− OpEx
−$87.1K −$7.92/SF
NOI
$145.2K $13.20/SF
Area
ZIP 21218
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,904,000
Cap Rate 7%
$2,074,286
Cap Rate 9%
$1,613,333
Alternative Uses
Best Use
Mixed Use
$2.07M
$1.82M – $2.42M
NOI $145,200 @ 7.0% cap · market cap 6.05%
Second Best
Specialty Retail
$1.86M
$1.62M – $2.16M
NOI $129,888 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,352 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,956
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Mixed-use property - A 2015 redevelopment combines leased commercial space with restaurant, bar, and performance improvements.
Where is this mixed-use property located?
The property is located at 2022 N CHARLES STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 11,000‑square‑foot building with four commercial units; Redeveloped in 2015; currently leased to one tenant under a triple‑net lease; Restaurant, bar, nightclub, performance space, retail area, and large outdoor patio
