Mixed-Use Live-Work
For Sale
$310,000
3210 Eastern Ave, Baltimore, MD 21224
Main-level commercial space with a separate upstairs apartment, plus dedicated parking, offering flexible live-work or tenant options.
Property Size1,400 SF
Price / SF$221.43
Days on Market123
Property Features for 3210 Eastern Ave
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Multifamily Units
1
Building Details
Year Built
1920
Listing Agency:
Cummings & Co. Realtors
Listed By:
Adrian M Sushko · License #523370
(410) 908-3568
Source:
Baltimoreharfordhomesforsale
Added: May 14
Changed: Sep 9
Last Checked: Sep 13 at 11:23AM
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 mixed-use live-work building is offered for sale as a flexible arrangement with a main level commercial space and a separate apartment upstairs. The property includes dedicated parking, supporting convenient access for tenants and customers. The layout can work well for an owner-operator who wants to combine business space with residential space, or for investors seeking two distinct uses in one building.
The building is located in Highlandtown on Eastern Ave in Baltimore, Maryland. It is described as being just steps from The Creative Alliance, and surrounded by local dining options. The Creative Alliance is noted as an ongoing venue for art shows and live entertainment, which may contribute to regular activity in the area.
For buyers and tenants looking for a property that can accommodate both commercial operations and residential space, this configuration provides practical flexibility. Dedicated parking is a notable operational detail for day-to-day use. With a main-level storefront-style component and an upstairs apartment, the building may fit businesses that prefer proximity to an established cultural anchor while maintaining separate private living space above.
The building is located in Highlandtown on Eastern Ave in Baltimore, Maryland. It is described as being just steps from The Creative Alliance, and surrounded by local dining options. The Creative Alliance is noted as an ongoing venue for art shows and live entertainment, which may contribute to regular activity in the area.
For buyers and tenants looking for a property that can accommodate both commercial operations and residential space, this configuration provides practical flexibility. Dedicated parking is a notable operational detail for day-to-day use. With a main-level storefront-style component and an upstairs apartment, the building may fit businesses that prefer proximity to an established cultural anchor while maintaining separate private living space above.
Key Highlights
- Commercial building built in 1920
- Main‑level commercial space plus a separate upstairs apartment for flexible use
- Dedicated parking included
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
$19,092
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
6.16%
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%
$381,840
$381.8K
Cap Rate 7%
$272,743
$272.7K
Cap Rate 9%
$212,133
$212.1K
Market Conditions
NOI Build-Up for 1,400 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
$30.7K $21.96/SF
− Vacancy
−$5.3K −$3.78/SF
EGI
$25.5K $18.18/SF
− OpEx
−$6.4K −$4.55/SF
NOI
$19.1K $13.64/SF
Area
ZIP 21224
Vacancy
17.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$381,840
Cap Rate 7%
$272,743
Cap Rate 9%
$212,133
Alternative Uses
Best Use
Office B
$272.7K
$238.7K – $318.2K
NOI $19,092 @ 7.0% cap · market cap 6.16%
Second Best
Mixed Use
$243.0K
$212.6K – $283.5K
NOI $17,010 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$335.4K
$293.5K – $391.3K
NOI $23,478 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Baltimore, MD
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Frequently Asked Questions
What type of property is this?
Live-work space - Main-level commercial space with a separate upstairs apartment, plus dedicated parking, offering flexible live-work or tenant options.
Where is this live-work space located?
The property is located at 3210 Eastern Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Commercial building built in 1920; Main‑level commercial space plus a separate upstairs apartment for flexible use; Dedicated parking included
