Live-Work Mixed-Use
For Sale
$500,000
3433 Greenmount Avenue, Baltimore, MD 21218
Two-level mixed-use building with a 2-bedroom apartment above and flexible main-level commercial space.
Property Size2,890 SF
Price / SF$173.01
Days on Market180
Property Features for 3433 Greenmount Avenue
General Information
Standard status
Active
Size
2,890 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$1,522
Amenities
Central Air
3
C-1
Parking.
Off Site, On Street.
Building Details
Year Built
1920
Listing Agency:
Monument Sotheby's International Realty
(443) 858-3766
Listed By:
Hulya Demir · License #656646
(443) 858-3766
Source:
Xome
Added: Mar 3
Changed: Aug 25
Last Checked: Aug 30 at 12:51PM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This mixed-use live-work property features residential space on the second floor and flexible commercial space on the main level. The second floor includes a 2-bedroom apartment with a full bathroom, spacious kitchen, and large living room.
The main level is suited for a restaurant, coffee shop, retail, or office and includes commercial kitchen space with an 8' hood. The property also offers off-street parking and is positioned in an area with a high traffic count.
Overall, the building is configured to support live-and-work use or multiple income streams, with clear separation between the residential unit upstairs and the commercial operating space below.
The main level is suited for a restaurant, coffee shop, retail, or office and includes commercial kitchen space with an 8' hood. The property also offers off-street parking and is positioned in an area with a high traffic count.
Overall, the building is configured to support live-and-work use or multiple income streams, with clear separation between the residential unit upstairs and the commercial operating space below.
Key Highlights
- Two‑level mixed‑use building with a 2‑bedroom apartment on the 2nd floor
- 2nd‑floor apartment includes a full bathroom, spacious kitchen, and large living room
- Main level offers flexible commercial space for a restaurant, coffee shop, retail, or office
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
$43,281
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
8.66%
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%
$865,620
$865.6K
Cap Rate 7%
$618,300
$618.3K
Cap Rate 9%
$480,900
$480.9K
Market Conditions
NOI Build-Up for 2,890 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
$69.4K $24.00/SF
− Vacancy
−$11.7K −$4.03/SF
EGI
$57.7K $19.97/SF
− OpEx
−$14.4K −$4.99/SF
NOI
$43.3K $14.98/SF
Area
ZIP 21218
Vacancy
16.80%
Lease Rate
$24.00 /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%
$865,620
Cap Rate 7%
$618,300
Cap Rate 9%
$480,900
Alternative Uses
Best Use
Office B
$618.3K
$541.0K – $721.4K
NOI $43,281 @ 7.0% cap · market cap 8.66%
Second Best
Mixed Use
$545.0K
$476.9K – $635.8K
NOI $38,148 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$785.7K
$687.5K – $916.7K
NOI $55,002 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
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 Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-level mixed-use building with a 2-bedroom apartment above and flexible main-level commercial space.
Where is this live-work space located?
The property is located at 3433 Greenmount Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑level mixed‑use building with a 2‑bedroom apartment on the 2nd floor; 2nd‑floor apartment includes a full bathroom, spacious kitchen, and large living room; Main level offers flexible commercial space for a restaurant, coffee shop, retail, or office
