End-Unit Retail
For Sale
$99,999
2601 WASHINGTON BOULEVARD, Baltimore, MD 21230
Vacant commercial space along a walkable Baltimore retail corridor with access to I-95 and I-395.
Property Size480 SF
Price / SF$208.33
Days on Market37
Property Features for 2601 WASHINGTON BOULEVARD
General Information
Standard status
Active
Size
480 SF
Property subtype
Retail
Site & Location
End Cap
Yes
Highway Access
Yes
Additional Details
Asking Price
$110,000
Taxes and HOA fees
Annual Taxes
$880
Building Details
Building Size
480 SF
Year Built
1920
Listing Agency:
Cummings & Co. Realtors
(443) 330-7889
Listed By:
Randy Pomfrey · License #608875
(443) 330-7889
Source:
Thehulsmangroup
Added: Jul 16
Changed: Aug 20
Last Checked: Aug 20 at 11:14AM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This 480-square-foot storefront is configured as an end-unit commercial property and is currently vacant. Built in 1920, the building offers a compact footprint for a small-scale retail operation or other commercial use supported by the storefront format.
The property fronts Washington Boulevard in Baltimore’s Pigtown/Washington Village area, along a walkable retail strip. Camden Yards, M&T Bank Stadium, Downtown Baltimore, and the Inner Harbor are within minutes, while I-95 and I-395 provide regional highway access.
The property fronts Washington Boulevard in Baltimore’s Pigtown/Washington Village area, along a walkable retail strip. Camden Yards, M&T Bank Stadium, Downtown Baltimore, and the Inner Harbor are within minutes, while I-95 and I-395 provide regional highway access.
Key Highlights
- 480 SF end‑unit storefront
- Vacant commercial building
- Built in 1920
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
$6,794
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
6.79%
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%
$135,880
$135.9K
Cap Rate 7%
$97,057
$97.1K
Cap Rate 9%
$75,489
$75.5K
Market Conditions
NOI Build-Up for 480 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
$10.4K $21.60/SF
− Vacancy
−$663 −$1.38/SF
EGI
$9.7K $20.22/SF
− OpEx
−$2.9K −$6.07/SF
NOI
$6.8K $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%
$135,880
Cap Rate 7%
$97,057
Cap Rate 9%
$75,489
Alternative Uses
Best Use
Retail
$97.1K
$84.9K – $113.2K
NOI $6,794 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$115.0K
$100.6K – $134.2K
NOI $8,050 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Vacant commercial space along a walkable Baltimore retail corridor with access to I-95 and I-395.
Where is this storefront property located?
The property is located at 2601 WASHINGTON BOULEVARD Baltimore, MD.
What is the asking price?
The asking price for this property is $99,999.
What are key features of this property?
This property features: 480 SF end‑unit storefront; Vacant commercial building; Built in 1920
