Redevelopment Property in Prime
319-321 S CENTRAL Avenue Baltimore, MD 21202
For Sale
$399,000
MULTI_FAMILY - BALTIMORE, MD
Property Size2,585 SF
Lot Size0.06 Acres
Price / SF$154.35
Days on Market126
Property Features for 319-321 S CENTRAL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Standard status
Active
Size
2,585 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7502
Utilities
Heating system
Heat Pump (Heating)
Building Details
Year built
1920
Number of units
1
Building materials
Combination
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Thomas B Maley · License #656646
(410) 274-3326
Added: Mar 26
Changed: Jun 9
Last Checked: Jul 29 at 1:06PM
MLS# MDBA2207824
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located next to historic Little Italy and the vibrant Harbor East communities, this redevelopment property at 319-321 S CENTRAL Avenue, BALTIMORE, MD 21202 offers a prime location with a high traffic count. The property has approved mixed-use plans available upon request. The project is ready for permits, and zoning is flexible with numerous uses. This opportunity is located directly across the street from the Canal Street Malt House redevelopment property. The lot size is 0.06 acres, and the property size is 2585 square feet.
Key Highlights
- Prime location next to historic Little Italy and Harbor East.
- Approved mixed‑use redevelopment plans available.
- Flexible zoning with numerous potential uses.
Financial Insights For Mixed Use
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 | $62.0k | $24.00 |
| − Vacancy | −$5.0k | −$1.92 |
| EGI | $57.1k | $22.08 |
| − OpEx | −$21.4k | −$8.28 |
| NOI | $35.7k | $13.80 |
2,585 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$509.6K
$445.9K – $594.6K
NOI $35,673 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$619.3K
$541.9K – $722.5K
NOI $43,351 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Redevelopment property in Baltimore near Little Italy and Harbor East.
Where is this mixed-use property located?
The property is located at 319-321 S CENTRAL Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Prime location next to historic Little Italy and Harbor East.; Approved mixed‑use redevelopment plans available.; Flexible zoning with numerous potential uses.
