Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Charles Village Mixed-Use Investment Title is generated by Realmo AI

    2541 SAINT PAUL St, Baltimore, MD 21218

    View on Map
    Claim this Listing
    For Sale
    $215,000

    Two apartments and office near Johns Hopkins University.

    Type:Investment
    Property size:
    1,000 SF
    Price / SF:
    $215/SF
    Added:
    Apr 3, 2026
    Days on Market:
    61
    Last Refresh:
    Apr 3 at 5:14 pm

    Property Features for 2541 SAINT PAUL St

    General Information

    Standard status
    Active
    Size
    1,000 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Will A Cannon III
    Will A Cannon III

    Listing agent Will A Cannon III

    Listing office BEN FREDERICK REALTY, INC.

    Listing date Apr 3, 2026

    Source Elliman

    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 BEN FREDERICK REALTY, INC.

    HighLights

    • Walker's Paradise: Enjoy a Walk Score of 95.
    • Excellent Transit: Transit Score of 73.
    • Very Bikeable: Bike Score of 87.
    • Located near Johns Hopkins University and Wyman Park Dell.
    • Flexible mixed‑use asset with OR‑2 zoning supporting current configuration and residential conversion.
    • Opportunity for immediate income through light interior updates and lease‑up.

    Overview

    Located in Charles Village, 2541 Saint Paul Street presents an investment opportunity in the rental market. The property features two one-bedroom apartments situated above a 1,000 SF first-floor office space. The existing layout can be maintained, or the building can be converted into a three-unit residential property. The location is five blocks south of Johns Hopkins University and four blocks from Wyman Park Dell, placing it within a consistently tenant-driven area. The Village Learning Place is located nearby. Investors have the option to pursue minor interior updates and lease-up for immediate income. Alternatively, a more extensive renovation could involve converting the first floor to residential use, upgrading the kitchens and baths, and installing individual HVAC and water heaters to achieve full utility separation. The building is currently served by a central gas-fired boiler and central water heater, with three electric and three gas meters already in place. The OR-2 zoning supports both the current mixed-use configuration and residential conversion. The property has a walk score of 95, a bike score of 87, and a transit score of 73.

    Local Financial Insights For Office B

    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 $24.0k $24.00
    − Vacancy −$4.0k −$4.03
    EGI $20.0k $19.97
    − OpEx −$5.0k −$4.99
    NOI $15.0k $14.98
    1,000 SF · lease $24.00/SF/yr · vacancy 16.80% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $213.9K
    $187.2K – $249.6K (±1% cap)
    NOI $14,976 @ 7.0% cap · market cap 6.97%
    Second Best
    Mixed Use
    $188.6K
    $165.0K – $220.0K (±1% cap)
    NOI $13,200 @ 7.0% cap · market cap 6.14%
    Theoretical Best
    Office A
    $271.9K
    $237.9K – $317.2K (±1% cap)
    NOI $19,032 @ 7.0% cap · market cap 8.85%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply 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
    -76.6151217
    Latitude
    39.3190533

    Nearby Similar for Sale

    • $725,000
      3,325 SF

      Established Bar and Lounge Opportunity

      Turnkey bar and lounge in Baltimore's thriving entertainment corridor.
      2218 BOSTON Street, BALTIMORE, MD 21231
      View Details
    • $1,250,000
      12,600 SF

      Baltimore Office Building For Sale

      Three-story office building in Baltimore with ample parking.
      5000 YORK Road, BALTIMORE, MD 21212
      View Details
    • $325,000
      3,000 SF

      Mixed-Use Property on Harford Road

      Highly visible mixed-use property in Northeast Baltimore's Lauraville corridor.
      4908 - 1/2-1 HARFORD Road, BALTIMORE, MD 21214
      View Details
    • $400,000

      Restaurant Property with Liquor License

      Well-maintained restaurant with liquor license and parking.
      410 LORTZ LN & 5800 YORK Road, BALTIMORE, MD 21212
      View Details
    • $699,000

      Downtown Baltimore Leased Investment Opportunity

      Fully leased commercial building in Downtown Baltimore with immediate cash flow.
      227 E BALTIMORE Street E, BALTIMORE, MD 21202
      View Details
    • $595,000

      Historic Office Building Near Harbor

      Four-story, 9,108 SF commercial building near Inner Harbor.
      14 W SARATOGA Street, BALTIMORE, MD 21201
      View Details
    • $650,000
      10,754 SF

      Multifamily Investment in Overlea, Baltimore

      Two multifamily buildings with 16 units in Overlea neighborhood.
      10 & 14 E OVERLEA Avenue, BALTIMORE, MD 21206
      View Details
    • $775,000
      5,000 SF

      Medical/Dental Office Condo For Sale

      Income-producing medical/dental office space in Catonsville's Wilton Springs.
      720 MAIDEN CHOICE Lane, BALTIMORE, MD 21229
      View Details
    • $1,129,000
      3,900 SF

      Standalone Office Building on York Road

      Two-story office building with finished ground level and ample parking.
      6501 YORK RD, BALTIMORE, MD 21212
      View Details
    • $699,000
      6,220 SF

      Highlandtown Mixed-Use Property For Sale

      Versatile property in Baltimore's Highlandtown Arts District.
      244 S HIGHLAND Avenue, BALTIMORE, MD 21224
      View Details
    • $1,325,000
      4,960 SF

      Mixed-Use Property with Development Potential

      Mixed-use property with income streams and future development potential.
      4906 HARFORD Road, BALTIMORE, MD 21214
      View Details
    • $624,900
      3,200 SF

      Turn-Key Multifamily Investment Opportunity

      Six-unit multifamily asset with strong income potential near downtown Baltimore.
      1911 W BALTIMORE Street, BALTIMORE, MD 21223
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two apartments and office near Johns Hopkins University.
    Where is this mixed-use property located?
    The property is located at 2541 SAINT PAUL St Baltimore, MD.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: Walker's Paradise: Enjoy a Walk Score of 95.; Excellent Transit: Transit Score of 73.; Very Bikeable: Bike Score of 87.
    (410) 916-3331
    We can help!
    Listing Contact
    Will A Cannon III
    Will A Cannon III
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2541 SAINT PAUL St, Baltimore, MD 21218
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!