Mixed-Use Building with
For Sale
$310,000
3210 EASTERN Avenue, Baltimore, MD 21224
Multi-Family, BALTIMORE, MD
Property Size1,400 SF
Lot Size0.03 Acres
Price / SF$221.43
Days on Market74
Property Features for 3210 EASTERN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
2
Parking features
Driveway
Appliances
Stove, Refrigerator
Subdivision
HIGHLANDTOWN
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
1,400 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2240
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Central Air
Amenities
dedicated parking
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Adrian M Sushko · License #523370
(410) 908-3568
Added: Jun 9
Changed: Aug 19
Last Checked: Aug 21 at 9:06PM
MLS# MDBA2218734
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.
This 1,400-square-foot mixed-use property combines a commercial area at street level with a separate apartment above. The brick building dates to 1920 and includes a driveway, central air, electric baseboard heat, and a basement. The apartment is equipped with a stove and refrigerator.
The property is positioned on Eastern Avenue in Baltimore’s Highlandtown area, near The Creative Alliance and approximately two blocks from Patterson Park. Its surrounding context includes nearby restaurants, entertainment venues, and neighborhood retail activity.
The property is positioned on Eastern Avenue in Baltimore’s Highlandtown area, near The Creative Alliance and approximately two blocks from Patterson Park. Its surrounding context includes nearby restaurants, entertainment venues, and neighborhood retail activity.
Key Highlights
- 1,400‑square‑foot mixed‑use building with commercial space and an upstairs apartment
- Brick construction dating to 1920
- Driveway parking on the property
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
$18,337
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
5.92%
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%
$366,740
$366.7K
Cap Rate 7%
$261,957
$262.0K
Cap Rate 9%
$203,744
$203.7K
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
$27.7K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$26.2K $18.71/SF
− OpEx
−$7.9K −$5.61/SF
NOI
$18.3K $13.10/SF
Area
ZIP 21224
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$366,740
Cap Rate 7%
$261,957
Cap Rate 9%
$203,744
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 5.92%
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
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-floor commercial space pairs with an upstairs apartment in a compact brick building.
Where is this mixed-use property located?
The property is located at 3210 EASTERN Avenue 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: 1,400‑square‑foot mixed‑use building with commercial space and an upstairs apartment; Brick construction dating to 1920; Driveway parking on the property
