Mixed-Use Property with
New
For Sale
$936,550
300 S Ann St, Baltimore, MD 21231
Five residential suites sit above ground-floor and basement commercial space in Baltimore’s Upper Fells Point neighborhood.
Property Size2,700 SF
Days on Market1
Property Features for 300 S Ann St
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Student Housing
Occupancy
100%
Site & Location
Neighborhood
Upper Fells Point
Mixed-Use Components
retail, residential
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Amenities
Durable in-place income. Five residential suites and one retail tenancy provide multiple income streams within a single urban asset.
Contractual retail growth. Scheduled base-rent increases and annual real estate tax reimbursement provide visible income growth through 2032, subject to the lease terms.
Meaningful recent reinvestment. The owner-provided cost schedule documents completed capital improvements across the roof, utilities, building systems, finishes and commercial buildout.
Reduced near-term capital burden. Major components and interior finishes have been upgraded, including the roof, electrical and gas services, HVAC, windows, flooring, plumbing, kitchens, bathrooms, lighting and fixtures.
Embedded cash-flow upside. The underwriting assumes residential rent growth, utility-reimbursement growth and continued contractual increases from the retail tenancy.
Upper Fells Point demand profile. The location is positioned to serve graduate, professional and music students, researchers and young professionals seeking off-campus housing in Baltimore.
Building Details
Building Size
2,700 SF
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Baltimore
Listed By:
Kyle Malin · License #License(s): MD: 5009118, PA: RSR005297, DE: RS-0038306, WV: WVS240303606
(443) 703-5035
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Oct 30 at 2:10PM
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 Marcus & Millichap - Baltimore
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Investment Insights
Based on property information with market context.
At 300 S Ann St, this mixed-use property combines five individually leased residential suites with retail space on the ground floor and in the basement. The commercial space is occupied by Brunch Supply, and the residential suites bring the property to six tenancies in total. The building has been renovated, though no renovation date is specified.
The property is in Baltimore’s Upper Fells Point neighborhood. Brunch Supply’s amended lease schedule extends through December 31, 2032, with contractual rent increases and reimbursements for real estate taxes and water; BGE is paid directly by the tenant. The February 1, 2027 rent roll reports all six tenancies occupied, representing 100% occupancy on that date.
The property is in Baltimore’s Upper Fells Point neighborhood. Brunch Supply’s amended lease schedule extends through December 31, 2032, with contractual rent increases and reimbursements for real estate taxes and water; BGE is paid directly by the tenant. The February 1, 2027 rent roll reports all six tenancies occupied, representing 100% occupancy on that date.
Key Highlights
- Five residential suites and ground‑floor and basement retail space
- Six occupied tenancies and 100% occupancy as of February 1, 2027
- Brunch Supply occupies the retail space under an amended schedule through December 31, 2032
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,215
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,300
$764.3K
Cap Rate 7%
$545,929
$545.9K
Cap Rate 9%
$424,611
$424.6K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$58.3K $21.60/SF
− Vacancy
−$3.7K −$1.38/SF
EGI
$54.6K $20.22/SF
− OpEx
−$16.4K −$6.07/SF
NOI
$38.2K $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 Rate 5%
$764,300
Cap Rate 7%
$545,929
Cap Rate 9%
$424,611
Alternative Uses
Best Use
Retail
$545.9K
$477.7K – $636.9K
NOI $38,215 @ 7.0% cap · market cap 4.08%
Second Best
Mixed Use
$532.3K
$465.8K – $621.0K
NOI $37,260 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$646.8K
$566.0K – $754.7K
NOI $45,279 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,419
Businesses Nearby
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Business Placement
Demographics for 21231, MD
17,062
Population
9,342
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
18,958
Density / Sq Mi
$85,382
Median Household Income
$67,289
Median Earnings
$1,710
Median Rent
$336,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five residential suites sit above ground-floor and basement commercial space in Baltimore’s Upper Fells Point neighborhood.
Where is this mixed-use property located?
The property is located at 300 S Ann St Baltimore, MD.
What is the asking price?
The asking price for this property is $936,550.
What are key features of this property?
This property features: Five residential suites and ground‑floor and basement retail space; Six occupied tenancies and 100% occupancy as of February 1, 2027; Brunch Supply occupies the retail space under an amended schedule through December 31, 2032
