225 - 227 W READ Street, Baltimore, MD 21201
MULTI_FAMILY - BALTIMORE, MD
- Added:
- Feb 26, 2026
- Days on Market:
- 120
- Last Refresh:
- Jun 26 at 10:06 pm
Property Features for 225 - 227 W READ Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 3,600 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9320
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Number of units
- 1
- Building materials
- Brick
Listing agent Bryan Carnaggio License #677096 (443) 617-6592
Listing office Redfin Corp 540 Gaither Road unit: 500, Falls Church, MD (301) 658-6186
Listing date Feb 26, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Immediate ROI with zero vacancy at closing.
- Income‑producing mixed‑use property with stable commercial and premium residential units.
- Long‑term, established commercial tenant in a high‑visibility location.
- Spacious and modern 3‑Bedroom, 2‑Bathroom apartment with open‑floor plan.
- Prime location near UMD Medical Center, Penn Station light rail, and the city's cultural heart.
- True dual functionality with separate entrances for commercial and residential units.
Overview
The property is located in Baltimore’s 21201 corridor, described as part of the Mount Vernon/Downtown area. The retail portion benefits from street-level visibility, and the surrounding area includes proximity to the UMD Medical Center and the Penn Station light rail, with access to the city’s cultural core.
For tenants, the layout supports a dual-use arrangement: a storefront at street level with residential space above that can function independently thanks to the separate entrance. For buyers and investors, the building offers continued occupancy with an established commercial tenant downstairs and a long-term residential presence upstairs, consolidating both uses into a single, three-story income property.
Local Financial Insights For Retail
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 | $77.8k | $21.60 |
| − Vacancy | −$5.0k | −$1.38 |
| EGI | $72.8k | $20.22 |
| − OpEx | −$21.8k | −$6.07 |
| NOI | $51.0k | $14.15 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore
- State
- Maryland
- Longitude
- -76.61922
- Latitude
- 39.30042