Mixed-Use Property with Restaurant
2022 North Charles Street, Baltimore, MD 21218
For Sale
Contact for pricing
A four-unit commercial building combines restaurant, bar, retail, and entertainment spaces under one tenant lease.
Property Size11,000 SF
Price / SF$218.18
Days on Market8
Property Features for 2022 North Charles Street
General Information
Standard status
Size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Site & Location
Highway Access
Utilities to Site
Restaurant
Patio
Equipment Included
Additional Details
Furnished
Sprinkler System
Tenant in Place
Amenities
four bars
nightclub and performance space
commercial kitchen
separate catering kitchen
two walk-in coolers
large storefront windows
upgraded utilities
basement storage
curbside delivery access
sound-attenuating construction
Building Details
Year Renovated
Buildings
Tenancy
Listing Agency:
Charles Real Estate
Listed By:
Ian Parrish · License MD #70999
(410) 592-6481
Source:
Crexi
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 8 at 2:59PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Redeveloped in 2015, this approximately 11,000-square-foot mixed-use property is configured as four commercial units that operate together through shared entrances and central restrooms. Its restaurant and entertainment improvements include four bars, a nightclub, performance space, a large patio, a commercial kitchen, a separate catering kitchen, and two walk-in coolers. Furniture, fixtures, and equipment convey, including kitchen and bar equipment, sound and AV systems, and a POS system. Other building features include storefront windows, upgraded utilities, sprinklers, basement storage, and curbside delivery access.
The property is on North Charles Street in Baltimore’s Station North Arts and Entertainment District, along the Charles Street National Scenic Byway. Penn Station, I-83, universities, restaurants, and cultural venues are nearby. The four units are leased to a single tenant on a triple-net basis.
The property is on North Charles Street in Baltimore’s Station North Arts and Entertainment District, along the Charles Street National Scenic Byway. Penn Station, I-83, universities, restaurants, and cultural venues are nearby. The four units are leased to a single tenant on a triple-net basis.
Key Highlights
- Approximately 11,000 square feet in a four‑unit commercial configuration
- Single tenant occupies the property under a triple‑net lease
- Restaurant and entertainment buildout includes four bars, a nightclub, performance space, and a large 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,696
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 83%
Shops & Services 17%
Goodwill
Apparel
5,023 visits/mo
0.5 miles
Midas
Shops & Services
636 visits/mo
0.5 miles
Meineke Car Care Center
Shops & Services
410 visits/mo
0.5 miles
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
$229,800
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Baltimore, MD
Properties on Market for Mixed-use properties in Baltimore
Vacancy Rate% for Retail in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Mixed-use property - A four-unit commercial building combines restaurant, bar, retail, and entertainment spaces under one tenant lease.
Where is this mixed-use property located?
The property is located at 2022 North 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: Approximately 11,000 square feet in a four‑unit commercial configuration; Single tenant occupies the property under a triple‑net lease; Restaurant and entertainment buildout includes four bars, a nightclub, performance space, and a large patio
