Historic Mixed-Use Investment
2112 Fleet Street Baltimore, MD 21231
2112 Fleet Street, Baltimore, MD, 21231
$875,000
For Sale
$875,000
Three-story mixed-use property with restaurant and apartments in Baltimore.
Property Size5,288 SF
Price / SF$165.47
Days on Market131
Property Features for 2112 Fleet Street
General Information
- Standard status
- Active
- Size
- 5,288 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing Agency
RE/MAX Preferred
(443) 414-3338
Listed by
Ronald W Howard · License #524502
(443) 414-3338
Source
Compass
Added: Mar 13 Updated: Jul 10 at 3:55 pm Checked: Jul 20 at 3:22 am
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Investment Insights
Based on property information with market context.
This historic three-story mixed-use property, situated between Fells Point and Canton and steps from Patterson Park, offers a unique investment opportunity. The building, with over 5,000 square feet, features a fully leased commercial space on the main level, currently occupied by Goldies Seafood Bar & Grill, with a lease extending through 2030. Above the restaurant, there are three recently renovated apartments, all currently vacant and available for lease. The property provides in-place revenue and is located in a vibrant waterfront neighborhood. The sale includes the real estate and secure interest in the liquor license. The property is being sold as-is, and the buyer is responsible for confirming use and zoning. The property is located in Baltimore City, within the Baltimore City Public Schools district.
Key Highlights
- Fully leased commercial space (Goldies Seafood Bar & Grill) with lease in place through 2030 provides immediate income.
- Prime location between Fells Point and Canton, steps from Patterson Park.
- Three recently renovated, vacant apartments ready for lease at $1,500/month each, offering additional income potential.
Local 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 | $126.9k | $24.00 |
| − Vacancy | −$10.2k | −$1.92 |
| EGI | $116.8k | $22.08 |
| − OpEx | −$43.8k | −$8.28 |
| NOI | $73.0k | $13.80 |
5,288 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,451 @ 7.0% cap · market cap 9.77%
Second Best
Mixed Use
$1.04M
$912.2K – $1.22M
NOI $72,974 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,680 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use property with restaurant and apartments in Baltimore.
Where is this mixed-use property located?
The property is located at 2112 Fleet Street Baltimore, MD.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Fully leased commercial space (Goldies Seafood Bar & Grill) with lease in place through 2030 provides immediate income.; Prime location between Fells Point and Canton, steps from Patterson Park.; Three recently renovated, vacant apartments ready for lease at $1,500/month each, offering additional income potential.
