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    Mixed-Use Retail and Apartment Building Title is generated by Realmo AI

    225 - 227 W READ Street, Baltimore, MD 21201

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    For Sale
    $640,000

    MULTI_FAMILY - BALTIMORE, MD

    Property size:
    3,600 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $177/SF
    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

    We can help!

    Contact an agent
    Bryan Carnaggio

    Listing agent Bryan Carnaggio License #677096

    Listing office Redfin Corp 540 Gaither Road unit: 500, Falls Church, MD

    Listing date Feb 26, 2026

    MLS# MDBA2204120 Listing URL

    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

    This well-maintained mixed-use property is registered as one parcel and totals three stories. Unit 225 is the street-level, flexible commercial suite at the ground level and is occupied by a long-term, established tenant. Unit 227 comprises the top two floors and operates as the residential space with a separate entrance. The upstairs home is a spacious, modern three-bedroom, two-bathroom apartment configured for an open-floor plan and currently occupied by long-term residents.

    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
    3,600 SF · lease $21.60/SF/yr · vacancy 6.39% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $727.9K
    $636.9K – $849.2K (±1% cap)
    NOI $50,954 @ 7.0% cap · market cap 7.96%
    Second Best
    Apartment 5plus
    $670.0K
    $586.3K – $781.7K (±1% cap)
    NOI $46,902 @ 7.0% cap · market cap 7.33%
    Theoretical Best
    Office A
    $862.5K
    $754.7K – $1.01M (±1% cap)
    NOI $60,372 @ 7.0% cap · market cap 9.43%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bluestone Goldsmithing (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Law Firm Nail Salon Food Market Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.61922
    Latitude
    39.30042

    FAQs

    What type of property is this?
    Retail space - Three-story building with ground-floor retail and a separate-entry, two-floor apartment above, both currently occupied.
    Where is this retail space located?
    The property is located at 225 - 227 W READ Street Baltimore, MD.
    What is the asking price?
    The asking price for this property is $640,000.
    What are key features of this property?
    This property features: 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.
    More about this property
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