Auto Shop with Parking
New
For Sale
$1,499,999
3605 WILKENS AVENUE, Baltimore, MD 21229
C-2-zoned auto shop with on-site parking and established building improvements.
Property Size10,650 SF
Days on Market4
Property Features for 3605 WILKENS AVENUE
General Information
Standard status
Active
Size
10,650 SF
Total Parking Spaces
50
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$18,259
Amenities
Central Air, Ceiling Fan(s), Window Unit(s), Electric
Natural Gas, Forced Air, Ceiling
Electric Water Heater
Parking Lot
Building Details
Building Size
10,650 SF
Year Built
1930
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(443) 802-2728
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Source:
Evrealestate
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 11 at 6:41AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This auto shop at 3605 Wilkens Avenue in Baltimore, Maryland, occupies a building constructed in 1930 and includes an on-site parking lot. The property is designated C-2, supporting its commercial positioning within Baltimore City.
Interior systems include central air, ceiling fans, window units, forced-air heating, and an electric water heater. Natural gas and electric service are identified among the building systems.
Interior systems include central air, ceiling fans, window units, forced-air heating, and an electric water heater. Natural gas and electric service are identified among the building systems.
Key Highlights
- C‑2 zoning
- On‑site parking lot
- Building constructed in 1930
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
$125,615
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
8.37%
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%
$2,512,300
$2.5M
Cap Rate 7%
$1,794,500
$1.8M
Cap Rate 9%
$1,395,722
$1.4M
Market Conditions
NOI Build-Up for 10,650 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
$191.7K $18.00/SF
− Vacancy
−$12.2K −$1.15/SF
EGI
$179.5K $16.85/SF
− OpEx
−$53.8K −$5.05/SF
NOI
$125.6K $11.79/SF
Area
ZIP 21229
Vacancy
6.39%
Lease Rate
$18.00 /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%
$2,512,300
Cap Rate 7%
$1,794,500
Cap Rate 9%
$1,395,722
Alternative Uses
Best Use
Office B
$2.03M
$1.78M – $2.37M
NOI $142,337 @ 7.0% cap · market cap 9.49%
Second Best
Retail
$1.79M
$1.57M – $2.09M
NOI $125,615 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,734 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21229, MD
43,464
Population
20,653
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
7,367
Density / Sq Mi
$55,457
Median Household Income
$40,627
Median Earnings
$1,210
Median Rent
$184,900
Median Home Value
Market
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ACE Automotive — 4105 Southwestern Blvd #5426, Baltimore, MD 21229
- US Fuel Automotive, Inc. — 4305 Southwestern Blvd, Baltimore, MD 21229
- Arbutus Automotive Co — 4315 Southwestern Blvd, Baltimore, MD 21229
- My Traveling Mechanic — 1401 Bloomfield Ave, Baltimore, MD 21227
- All Out Autowerx — 4103 Southwestern Blvd, Baltimore, MD 21229
Frequently Asked Questions
What type of property is this?
Auto shop - C-2-zoned auto shop with on-site parking and established building improvements.
Where is this auto shop located?
The property is located at 3605 WILKENS AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: C‑2 zoning; On‑site parking lot; Building constructed in 1930
