Flex Property With Retail And
New
For Sale
$650,000
3211 Greenmount Ave, Baltimore, MD 21218
Front retail space is paired with a substantial rear warehouse area for flexible commercial use.
Property Size7,961 SF
Price / SF$81.65
Days on Market2
Property Features for 3211 Greenmount Ave
General Information
Standard status
Active
Size
7,961 SF
Building Details
Year Built
1920
Listing Agency:
Alan J Hochman
Listed By:
Alan Hochman · License #SBR002777
(614) 670-2966
Source:
Selltheshore
Added: Sep 9
Last Checked: Sep 9 at 3:41PM
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 Alan J Hochman
Investment Insights
Based on property information with market context.
This 7,961-square-foot flex property combines a retail-oriented front section with a large warehouse area at the rear. The existing layout can support continued single-user occupancy or separation into a retail component and a smaller warehouse space. Built in 1920, the property offers a commercial configuration that accommodates both customer-facing and storage-oriented functions.
Located at 3211 Greenmount Ave in Baltimore, the property is a few blocks from Johns Hopkins University and sits within an established commercial corridor. Nearby businesses include Giant Food, Ace Hardware, Pete’s Grill, and Red Emma’s Bookstore, providing a mix of retail, dining, and neighborhood-serving uses in the surrounding area.
Located at 3211 Greenmount Ave in Baltimore, the property is a few blocks from Johns Hopkins University and sits within an established commercial corridor. Nearby businesses include Giant Food, Ace Hardware, Pete’s Grill, and Red Emma’s Bookstore, providing a mix of retail, dining, and neighborhood-serving uses in the surrounding area.
Key Highlights
- 7,961 SF flex property with retail and warehouse areas
- Rear warehouse section offers substantial storage or operational space
- Layout can accommodate one user or separate retail and warehouse components
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
$43,917
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
6.76%
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%
$878,340
$878.3K
Cap Rate 7%
$627,386
$627.4K
Cap Rate 9%
$487,967
$488.0K
Market Conditions
NOI Build-Up for 7,961 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
$71.6K $9.00/SF
− Vacancy
−$4.1K −$0.51/SF
EGI
$67.6K $8.49/SF
− OpEx
−$23.6K −$2.97/SF
NOI
$43.9K $5.52/SF
Area
ZIP 21218
Vacancy
5.70%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$878,340
Cap Rate 7%
$627,386
Cap Rate 9%
$487,967
Alternative Uses
Best Use
Retail
$1.11M
$973.0K – $1.30M
NOI $77,839 @ 7.0% cap · market cap 11.98%
Second Best
Warehouse
$1.09M
$949.6K – $1.27M
NOI $75,969 @ 7.0% cap · market cap 11.69%
Theoretical Best
Office A
$2.16M
$1.89M – $2.53M
NOI $151,514 @ 7.0% cap · market cap 23.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,579
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Baltimore, MD
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Similar Off Market Nearby
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- Bori'Queen Latin Cuisine — 416 ilchester ave, baltimore, md 21218
- Posh Catering Co. — 3326 Greenmount Ave, Baltimore, MD 21218
- Culinary Creations — 3309 Westerwald Ave, Baltimore, MD 21218
Frequently Asked Questions
What type of property is this?
Flex space - Front retail space is paired with a substantial rear warehouse area for flexible commercial use.
Where is this flex space located?
The property is located at 3211 Greenmount Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 7,961 SF flex property with retail and warehouse areas; Rear warehouse section offers substantial storage or operational space; Layout can accommodate one user or separate retail and warehouse components
