Mixed-Use Building with
For Sale
$445,000
3301 FOSTER Avenue, Baltimore, MD 21224
MULTI_FAMILY - BALTIMORE, MD
Property Size2,560 SF
Lot Size0.03 Acres
Price / SF$173.83
Days on Market98
Property Features for 3301 FOSTER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Wood Floors
Appliances
Refrigerator, Stove
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
2,560 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6775
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Building Details
Year built
1913
Number of units
1
Building materials
Brick
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 583-0400
Listed By:
Robert J Breeden · License #632462
(410) 929-2491
Added: May 7
Changed: Aug 10
Last Checked: Aug 12 at 1:06AM
MLS# MDBA2211998
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 2,560-square-foot mixed-use building combines an operating bar on the main level with a two-bedroom apartment above. Built in 1913, the brick property includes wood flooring, central air, a refrigerator, and a stove. On-street parking serves the building, and the sale includes a liquor license.
Located in Downtown Baltimore at 3301 Foster Avenue, the property occupies a 0.0345-acre site in Baltimore City. Its commercial and residential components provide a defined combination of bar and apartment space within one building.
Located in Downtown Baltimore at 3301 Foster Avenue, the property occupies a 0.0345-acre site in Baltimore City. Its commercial and residential components provide a defined combination of bar and apartment space within one building.
Key Highlights
- Operating bar with upstairs 2‑bedroom apartment
- 2,560 square feet in a mixed‑use configuration
- Liquor license included in the sale
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
$34,836
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
7.83%
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%
$696,720
$696.7K
Cap Rate 7%
$497,657
$497.7K
Cap Rate 9%
$387,067
$387.1K
Market Conditions
NOI Build-Up for 2,560 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
$49.2K $19.20/SF
− Vacancy
−$2.7K −$1.06/SF
EGI
$46.4K $18.14/SF
− OpEx
−$11.6K −$4.54/SF
NOI
$34.8K $13.61/SF
Area
ZIP 21224
Vacancy
5.50%
Lease Rate
$19.20 /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%
$696,720
Cap Rate 7%
$497,657
Cap Rate 9%
$387,067
Alternative Uses
Best Use
Specialty Retail
$497.7K
$435.5K – $580.6K
NOI $34,836 @ 7.0% cap · market cap 7.83%
Second Best
Mixed Use
$444.3K
$388.8K – $518.4K
NOI $31,104 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$613.3K
$536.6K – $715.5K
NOI $42,931 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2,581
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 Retail in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Operating bar and upstairs two-bedroom apartment occupy a historic brick property with central air and wood floors.
Where is this mixed-use property located?
The property is located at 3301 FOSTER Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Operating bar with upstairs 2‑bedroom apartment; 2,560 square feet in a mixed‑use configuration; Liquor license included in the sale
