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 Market189
Property Features for 204 S Eaton St
General Information
Standard status
Active
Size
6,875 SF
Site & Location
Neighborhood
Highlandtown
Building Details
Year Built
1940
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Charles W Cockrill · License #34091
(443) 956-6913
Source:
Kandorre
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 7 at 2:54PM
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 Berkshire Hathaway HomeServices PenFed Realty
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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
Estimated NOI and Cap Rate
NOI / Yr
$83,531
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,670,620
$1.7M
Cap Rate 7%
$1,193,300
$1.2M
Cap Rate 9%
$928,122
$928.1K
Market Conditions
NOI Build-Up for 6,875 SF
Gross rent
$148.5K $21.60/SF
− Vacancy
−$14.9K −$2.16/SF
EGI
$133.7K $19.44/SF
− OpEx
−$50.1K −$7.29/SF
NOI
$83.5K $12.15/SF
Area
ZIP 21224
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,670,620
Cap Rate 7%
$1,193,300
Cap Rate 9%
$928,122
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.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Baltimore, MD
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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.
