C4 Auto Service Shop with
For Sale
Contact for pricing
3541 S HANOVER ST, Baltimore, MD 21225
Automotive service facility on a high-intensity C4 site with separately metered C3 apartments and 20+ vehicle parking.
Property Size7,882 SF
Price / SF$111.01
Days on Market67
Property Features for 3541 S HANOVER ST
General Information
Standard status
Active
Size
7,882 SF
Property subtype
Retail, Business for Sale
Zoning
C4
Investment Type
Owner/User
Building Details
Year Built
1950
Listing Agency:
Friend Commercial Real Estate
(410) 449-1074
Listed By:
Ted Kroos · License #310309
Source:
Crexi
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 8 at 8:54AM
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 Friend Commercial Real Estate
Investment Insights
Based on property information with market context.
The property consists of an existing auto service shop plus separately metered apartments. Improvements include an approximately 6,000-square-foot auto service shop and total building improvements of about 7,882 square feet. The auto service portion is zoned C4 (High-Intensity Commercial), and the residential components are zoned C3. On-site parking for 20+ vehicles supports customer, employee, and fleet use.
The site is located at 3541–3553 S Hanover St in Baltimore, MD and is positioned for easy regional access. The property provides immediate access to I-895, with I-95 and BWI Airport in close proximity. The overall configuration is set up for an automotive-oriented business and associated customer traffic.
This layout can fit owner-users who want a dedicated shop space while retaining an apartment component on the same parcel under separate metering. Buyers and investors may find the mix of C4 commercial and C3 residential zoning, along with on-site parking, useful for automotive-focused operations or for considering redevelopment scenarios consistent with the existing zoning allowances. The property is described as available immediately.
The site is located at 3541–3553 S Hanover St in Baltimore, MD and is positioned for easy regional access. The property provides immediate access to I-895, with I-95 and BWI Airport in close proximity. The overall configuration is set up for an automotive-oriented business and associated customer traffic.
This layout can fit owner-users who want a dedicated shop space while retaining an apartment component on the same parcel under separate metering. Buyers and investors may find the mix of C4 commercial and C3 residential zoning, along with on-site parking, useful for automotive-focused operations or for considering redevelopment scenarios consistent with the existing zoning allowances. The property is described as available immediately.
Key Highlights
- Auto service shop property at 3541–3553 S Hanover St with approximately 7,882 SF of improvements on ±0.42 acres
- Includes a ±6,000 SF auto service shop zoned C4 (High‑Intensity Commercial) for automotive or other intensive commercial uses
- Separately metered apartments zoned C3—adds supplemental rental income potential
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
$43,519
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
4.97%
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%
$870,380
$870.4K
Cap Rate 7%
$621,700
$621.7K
Cap Rate 9%
$483,544
$483.5K
Market Conditions
NOI Build-Up for 7,882 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
$66.2K $8.40/SF
− Vacancy
−$4.0K −$0.51/SF
EGI
$62.2K $7.89/SF
− OpEx
−$18.7K −$2.37/SF
NOI
$43.5K $5.52/SF
Area
Baltimore, MD
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%
$870,380
Cap Rate 7%
$621,700
Cap Rate 9%
$483,544
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.86M
NOI $111,561 @ 7.0% cap · market cap 12.75%
Second Best
Industrial
$621.7K
$544.0K – $725.3K
NOI $43,519 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,182 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21225, MD
34,138
Population
14,434
Households
2.4
Avg Household Size
34
Median Age
14%
College-Educated
79%
High-School Grad
6.5 sq mi
ZIP Area
5,252
Density / Sq Mi
$50,069
Median Household Income
$35,991
Median Earnings
$1,118
Median Rent
$214,000
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
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Similar Off Market Nearby
- Bestway Auto Services — 842 E Patapsco Ave, Baltimore, MD 21225
- Collision Consulting — 1000 E Patapsco Ave, Baltimore, MD 21225
- Master Techs Automotive Inc — 512 Pontiac Ave, Baltimore, MD 21225
- Continental haulage & automotive
- Shaggy Tires — 4000 Belle Grove Rd, Brooklyn, MD 21225
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service facility on a high-intensity C4 site with separately metered C3 apartments and 20+ vehicle parking.
Where is this auto shop located?
The property is located at 3541 S HANOVER ST Baltimore, MD.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Auto service shop property at 3541–3553 S Hanover St with approximately 7,882 SF of improvements on ±0.42 acres; Includes a ±6,000 SF auto service shop zoned C4 (High‑Intensity Commercial) for automotive or other intensive commercial uses; Separately metered apartments zoned C3—adds supplemental rental income potential
