Building Details

Building Size 1,992 SF

Year Built 1920

Buildings 1

Stories 1

Listing Agency: Steen Properties

Listed By: Margaret M Steen · License #93185 Show Phone

Source: Thehulsmangroup

Added: Oct 19 Changed: Oct 21 Last Checked: Oct 20 at 11:48PM

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Investment Insights

Based on property information with market context.

Built in 1920, this 1,992-square-foot flex building has a single-story layout with a roll-up garage door, solid entry doors, and multiple access points. The interior can accommodate office, workshop, storage, or combined functions. A gravel lot exceeding one-third of an acre provides outdoor space for vehicles, trailers, equipment, and materials; shipping containers are currently on site.

The property is set among trees, with residential and light-commercial properties in the surrounding area. Its building and yard offer a mix of enclosed workspace and outdoor storage for a range of commercial operations.

Key Highlights

• 1,992‑square‑foot, single‑story flex building
• Gravel lot exceeding one‑third of an acre
• Roll‑up garage door, solid entry doors, and multiple access points

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,119

Cap Rate

6.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$262,380 $262.4K

Cap Rate 7%

$187,414 $187.4K

Cap Rate 9%

$145,767 $145.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,992 SF

Gross rent

$16.7K $8.40/SF

− Vacancy

−$1.3K −$0.65/SF

EGI

$15.4K $7.75/SF

− OpEx

−$2.3K −$1.16/SF

NOI

$13.1K $6.59/SF

Area

Baltimore, MD

Vacancy

7.76%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$262,380

Cap Rate 7%

$187,414

Cap Rate 9%

$145,767

Alternative Uses

Best Use

Flex RnD

$308.0K

$269.5K – $359.3K (±1% cap)

NOI $21,558 @ 7.0% cap · market cap 10.78%

Second Best

Warehouse

$187.4K

$164.0K – $218.7K (±1% cap)

NOI $13,119 @ 7.0% cap · market cap 6.56%

Theoretical Best

Office A

$477.2K

$417.6K – $556.8K (±1% cap)

NOI $33,406 @ 7.0% cap · market cap 16.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Acupuncture (Bike/Boat/Book/etc) Store Furniture & Home Goods Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

757

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 21234, MD

67,308

Population

29,575

Households

2.3

Avg Household Size

40

Median Age

36%

College-Educated

93%

High-School Grad

13.4 sq mi

ZIP Area

5,023

Density / Sq Mi

$83,139

Median Household Income

$52,260

Median Earnings

$1,542

Median Rent

$276,000

Median Home Value

Market

Vacancy Rate% for Industrial in Baltimore, MD

6.4% 2019

5.9% 2020

2.6% 2021

3% 2022

3% 2023

7.6% 2024

8.8% 2025

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Similar Off Market Nearby

• Flair Cuisine LLC — 6615 Harford Rd, Baltimore, MD 21214
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Frequently Asked Questions

What type of property is this?

Flex space - A single-story layout pairs enclosed work space with a gravel yard for vehicles and equipment.

Where is this flex space located?

The property is located at 3004-A ROSALIE AVENUE Baltimore, MD.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: 1,992‑square‑foot, single‑story flex building; Gravel lot exceeding one‑third of an acre; Roll‑up garage door, solid entry doors, and multiple access points