Mixed-Use Property with
306 W MULBERRY ST, Baltimore, MD 21201
For Sale
$6,600,000
Three buildings combine apartment homes, street-level retail, and garage parking in Baltimore.
Property Size44,774 SF
Price / SF$147.41
Days on Market23
Property Features for 306 W MULBERRY ST
General Information
Standard status
Size
Total Parking Spaces
Site & Location
Neighborhood
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Amenities
central HVAC
PVC plumbing
on-site laundry
secured courtyard
garage parking
security cameras
on-site maintenance
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Midfield Realty
(410) 498-5408
Listed By:
Yaakov Kanevsky · License MD #5012433
(410) 324-6939
Source:
Lakehomesbyliz
Added: Oct 19
Changed: Nov 7
Last Checked: Nov 10 at 8:09AM
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 Midfield Realty
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Investment Insights
Based on property information with market context.
At 306 W. Mulberry Street, Mulberry Court comprises three buildings constructed in 1994, with approximately 44,774 square feet. The property contains 62 apartments—14 studios, 24 one-bedroom units, and 24 two-bedroom units—alongside six ground-floor retail spaces and 12 garage spaces. Amenities and building features include central HVAC, PVC plumbing, on-site laundry, a secured courtyard, security cameras, and on-site maintenance.
The property is in Baltimore’s Westside/Bromo Arts District, about two blocks from Lexington Market. Nearby institutions and destinations include UMB, UMMC, Mercy Medical Center, the Baltimore VA Medical Center, and the Baltimore Convention Center. The location has a 99 Walk Score and a 100 Transit Score.
The property is in Baltimore’s Westside/Bromo Arts District, about two blocks from Lexington Market. Nearby institutions and destinations include UMB, UMMC, Mercy Medical Center, the Baltimore VA Medical Center, and the Baltimore Convention Center. The location has a 99 Walk Score and a 100 Transit Score.
Key Highlights
- 62 apartments across three buildings, with 14 studios, 24 one‑bedrooms, and 24 two‑bedrooms
- Approximately 44,774 SF, with six ground‑floor retail spaces and 12 garage spaces
- Built in 1994; features central HVAC, PVC plumbing, and on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$583,334
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,666,680
$11.7M
Cap Rate 7%
$8,333,343
$8.3M
Cap Rate 9%
$6,481,489
$6.5M
Market Conditions
NOI Build-Up for 44,774 SF
Gross rent
$1.13M $25.20/SF
− Vacancy
−$67.7K −$1.51/SF
EGI
$1.06M $23.69/SF
− OpEx
−$477.3K −$10.66/SF
NOI
$583.3K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,666,680
Cap Rate 7%
$8,333,343
Cap Rate 9%
$6,481,489
Alternative Uses
Best Use
Retail
$9.05M
$7.92M – $10.56M
NOI $633,724 @ 7.0% cap · market cap 9.60%
Second Best
Mixed Use
$8.83M
$7.72M – $10.30M
NOI $617,881 @ 7.0% cap · market cap 9.36%
Theoretical Best
Office A
$10.73M
$9.39M – $12.51M
NOI $750,862 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
62
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
10,990
Businesses Nearby
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Business Placement
Demographics for 21201, MD
18,382
Population
11,468
Households
1.6
Avg Household Size
34
Median Age
47%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
14,140
Density / Sq Mi
$44,722
Median Household Income
$44,239
Median Earnings
$1,282
Median Rent
$221,900
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Baltimore, MD
Properties on Market for Mixed-use properties in Baltimore
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three buildings combine apartment homes, street-level retail, and garage parking in Baltimore.
Where is this mixed-use property located?
The property is located at 306 W MULBERRY ST Baltimore, MD.
What is the asking price?
The asking price for this property is $6,600,000.
What are key features of this property?
This property features: 62 apartments across three buildings, with 14 studios, 24 one‑bedrooms, and 24 two‑bedrooms; Approximately 44,774 SF, with six ground‑floor retail spaces and 12 garage spaces; Built in 1994; features central HVAC, PVC plumbing, and on‑site laundry
