Commercial Property Near Johns
For Sale
$650,000
3211 GREENMOUNT AVENUE, Baltimore, MD 21218
Commercial property near Johns Hopkins University with warehouse section.
Property Size7,961 SF
Days on Market165
Property Features for 3211 GREENMOUNT AVENUE
General Information
Standard status
Active
Size
7,961 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$8,122
Building Details
Building Size
7,961 SF
Year Built
1920
Listing Agency:
Alan J Hochman
(614) 670-2966
Listed By:
Alan Hochman · License #82989
(614) 670-2966
Source:
Thehulsmangroup
Added: Mar 12
Changed: Aug 23
Last Checked: Aug 22 at 11:04AM
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 commercial property is located a few blocks from Johns Hopkins University, situated within an established commercial corridor that includes Giant Food, Ace Hardware, Pete's Grill, and Red Emma's Bookstore. The property features a large warehouse section at the rear, offering the potential to create two separate spaces: one retail and one small warehouse. Alternatively, the entire space can be utilized as is, and is in superb condition.
Key Highlights
- 90% financing available through High Street Finance, LLC.
- Close proximity to Johns Hopkins University.
- Located in an established commercial corridor with Giant Food, Ace Hardware, Pete's Grill, and Red Emma's Bookstore.
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
$43,955
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%
$879,100
$879.1K
Cap Rate 7%
$627,929
$627.9K
Cap Rate 9%
$488,389
$488.4K
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
$66.9K $8.40/SF
− Vacancy
−$4.1K −$0.51/SF
EGI
$62.8K $7.89/SF
− OpEx
−$18.8K −$2.37/SF
NOI
$44.0K $5.52/SF
Area
ZIP 21218
Vacancy
6.10%
Lease Rate
$8.40 /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%
$879,100
Cap Rate 7%
$627,929
Cap Rate 9%
$488,389
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
Property Profile
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
Market
Vacancy Rate% for Industrial in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property near Johns Hopkins University with warehouse section.
Where is this storefront property located?
The property is located at 3211 GREENMOUNT AVENUE 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: 90% financing available through High Street Finance, LLC.; Close proximity to Johns Hopkins University.; Located in an established commercial corridor with Giant Food, Ace Hardware, Pete's Grill, and Red Emma's Bookstore.
