Highlandtown Warehouse Conversion
For Sale
$1,200,000
204 S EATON St, Baltimore, MD 21224
6,875 SF warehouse with apartment conversion potential and parking.
Property Size6,875 SF
Price / SF$174.55
Days on Market99
Property Features for 204 S EATON St
General Information
Standard status
Active
Size
6,875 SF
Property subtype
Industrial
Building Details
Year Built
1940
Listing Agency:
Coldwell Banker Residential Brokerage
(443) 956-6913
Listed By:
Charles W Cockrill · License #34091
(443) 956-6913
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 6:16PM
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 Coldwell Banker Residential Brokerage
Investment Insights
Based on property information with market context.
Located in the Highlandtown neighborhood, 204 S. Eaton Street presents a 6,875 square foot industrial property formerly used for manufacturing. The property features an open format and high-level garage doors. It has zoning approval for up to 28 parking spaces, making it suitable for a 24 to 28-unit apartment conversion with on-site parking. The location offers excellent visibility and accessibility. The area has a walk score of 93, indicating it is a walker's paradise, a bike score of 65, indicating it is bikeable, and a transit score of 70, indicating excellent transit.
Key Highlights
- Approved zoning for 24‑28 unit apartment conversion.
- Includes zoning approval for up to 28 on‑site parking spaces.
- Large 6,875 square foot open warehouse space.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $148.5k | $21.60 |
| − Vacancy | −$14.9k | −$2.16 |
| EGI | $133.7k | $19.44 |
| − OpEx | −$50.1k | −$7.29 |
| NOI | $83.5k | $12.15 |
6,875 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,531 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,450 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,294 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,091
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
Market
Vacancy Rate% for Industrial in Baltimore, MD
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 6,875 SF warehouse with apartment conversion potential and parking.
Where is this warehouse located?
The property is located at 204 S EATON St Baltimore, MD.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approved zoning for 24‑28 unit apartment conversion.; Includes zoning approval for up to 28 on‑site parking spaces.; Large 6,875 square foot open warehouse space.
