Restaurant Storefront with Upstairs
For Sale
$399,000
3418 EASTERN Avenue, Baltimore, MD 21224
MULTI_FAMILY - BALTIMORE, MD
Property Size1,862 SF
Lot Size0.05 Acres
Price / SF$214.29
Days on Market209
Property Features for 3418 EASTERN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Driveway
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
1,862 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4123
Utilities
Cooling system
Central Air
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Liz A. Ancel · License #631587
(410) 599-4161
Added: Jan 2
Changed: Jul 10
Last Checked: Jul 30 at 4:06PM
MLS# MDBA2196322
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 vacant multi-level property combines a restaurant/storefront on the main level with residential space upstairs. The main level is described as fully equipped and includes a huge commercial kitchen and two restrooms. The upstairs apartment features a spacious bedroom and living area with one full bathroom. The property also includes two-car parking in the rear.
The listing remarks indicate previously rented income levels of $1,500 for the upstairs residential and $3,500 for the restaurant space.
Additional ground rent and sub-lease information is provided in the remarks, including a ground rent amount of $30 on the 27th of March and September, and a sub-lease of $2 due 9/27, with the seller noting they will not redeem.
The listing remarks indicate previously rented income levels of $1,500 for the upstairs residential and $3,500 for the restaurant space.
Additional ground rent and sub-lease information is provided in the remarks, including a ground rent amount of $30 on the 27th of March and September, and a sub-lease of $2 due 9/27, with the seller noting they will not redeem.
Key Highlights
- High‑visibility restaurant/storefront/multi‑unit potential in a great Highlandtown location.
- Fully equipped, huge commercial kitchen.
- Upstairs residential unit with potential rental income (previously $1,500).
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.8k | $19.20 |
| − Vacancy | −$2.0k | −$1.06 |
| EGI | $33.8k | $18.14 |
| − OpEx | −$8.4k | −$4.54 |
| NOI | $25.3k | $13.61 |
1,862 SF · lease $19.20/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$362.0K
$316.7K – $422.3K
NOI $25,338 @ 7.0% cap · market cap 6.35%
Second Best
Multifamily LT 5
$348.4K
$304.9K – $406.5K
NOI $24,388 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$446.1K
$390.3K – $520.4K
NOI $31,226 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
2,366
Businesses Nearby
Under-served
Demand for This Use
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?
Conventional restaurant - Vacant multi-level restaurant storefront with a fully equipped commercial kitchen, two main-level restrooms, and an upstairs apartment.
Where is this conventional restaurant located?
The property is located at 3418 EASTERN Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: High‑visibility restaurant/storefront/multi‑unit potential in a great Highlandtown location.; Fully equipped, huge commercial kitchen.; Upstairs residential unit with potential rental income (previously $1,500).
