Historic Corner Mixed-Use
For Sale
$1,300,000
210 S HIGH STREET, Baltimore, MD 21202
Historic brick building built in 1870 with a major 2009 renovation, combining bed-and-breakfast and general retail use.
Property Size4,500 SF
Price / SF$288.89
Days on Market35
Property Features for 210 S HIGH STREET
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Mixed Use
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,988
Amenities
3
Hardwood, Tile
Instant Hot Water
Rubber
Parking.
On Street.
City
Irregular
27X101. 2,727sqft=.0626 a
Downtown, Irregular.
Building Details
Year Built
1870
Year Renovated
2009
Construction
brick
Listing Agency:
Keller Williams Lucido Agency
(410) 465-6900
Listed By:
Robert Lucido · License #597862
(410) 465-6900
Source:
Xome
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 8:52AM
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 Keller Williams Lucido Agency
Investment Insights
Based on property information with market context.
This historic brick corner property was constructed in 1870 and underwent a major renovation completed in 2009. The building supports both a bed-and-breakfast and a general retail business use, with indoor finishes including hardwood and tile/brick flooring. Mechanical and comfort features include ductless mini-split cooling, radiator heating with natural gas, and instant hot water.
The property sits on a corner lot and includes public water and sewer service. It is described as being in the heart of Little Italy in Baltimore, Maryland.
With its mixed-use configuration and updated systems following the 2009 renovation, the building is positioned for buyers seeking a historic structure that can accommodate both lodging and retail activity within the same address.
The property sits on a corner lot and includes public water and sewer service. It is described as being in the heart of Little Italy in Baltimore, Maryland.
With its mixed-use configuration and updated systems following the 2009 renovation, the building is positioned for buyers seeking a historic structure that can accommodate both lodging and retail activity within the same address.
Key Highlights
- Historic brick corner building built in 1870, with a major renovation completed in 2009
- Mixed‑use setup: bed‑and‑breakfast plus general retail business use
- Hardwood and tile/brick flooring throughout
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
$63,692
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
4.90%
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%
$1,273,840
$1.3M
Cap Rate 7%
$909,886
$909.9K
Cap Rate 9%
$707,689
$707.7K
Market Conditions
NOI Build-Up for 4,500 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
$97.2K $21.60/SF
− Vacancy
−$6.2K −$1.38/SF
EGI
$91.0K $20.22/SF
− OpEx
−$27.3K −$6.07/SF
NOI
$63.7K $14.15/SF
Area
Baltimore, MD
Vacancy
6.39%
Lease Rate
$21.60 /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%
$1,273,840
Cap Rate 7%
$909,886
Cap Rate 9%
$707,689
Alternative Uses
Best Use
Retail
$909.9K
$796.2K – $1.06M
NOI $63,692 @ 7.0% cap · market cap 4.90%
Second Best
Hotel Hospitality
$386.9K
$338.6K – $451.4K
NOI $27,086 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$1.08M
$943.3K – $1.26M
NOI $75,465 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,642
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Historic brick building built in 1870 with a major 2009 renovation, combining bed-and-breakfast and general retail use.
Where is this bed & breakfast located?
The property is located at 210 S HIGH STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Historic brick corner building built in 1870, with a major renovation completed in 2009; Mixed‑use setup: bed‑and‑breakfast plus general retail business use; Hardwood and tile/brick flooring throughout
