Listing Agency: Gold and Company

Listed By: Jim Chivers · License #617251 Show Phone

Added: Dec 19, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

This commercial property in Baltimore, Maryland, features a free-standing, single-story building with approximately 8,100 square feet of space. The property is situated on a 0.7-acre lot and includes ample parking. Located at a signalized intersection, the property is zoned for commercial use.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,344

Cap Rate

4.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,826,880 $1.8M

Cap Rate 7%

$1,304,914 $1.3M

Cap Rate 9%

$1,014,933 $1.0M

Market Conditions

NOI Build-Up for 8,100 SF

Gross rent

$145.8K $18.00/SF

− Vacancy

−$15.3K −$1.89/SF

EGI

$130.5K $16.11/SF

− OpEx

−$39.1K −$4.83/SF

NOI

$91.3K $11.28/SF

Area

ZIP 21206

Vacancy

10.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,826,880

Cap Rate 7%

$1,304,914

Cap Rate 9%

$1,014,933

Alternative Uses

Best Use

Retail

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,344 @ 7.0% cap · market cap 4.15%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,329 @ 7.0% cap · market cap 5.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Family Dollar Discount Store

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Skin Care Clinic HVAC Service Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

454

Businesses Nearby

15k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 84% Apparel 16%

Popeyes Louisiana Kitchen Dining

9,833 visits/mo 0.4 miles

Pizza Hut Dining

2,609 visits/mo 0.5 miles

Coach Apparel

2,412 visits/mo 0.4 miles

Demographics for 21206, MD

49,470

Population

21,939

Households

2.3

Avg Household Size

38

Median Age

25%

College-Educated

89%

High-School Grad

7.3 sq mi

ZIP Area

6,777

Density / Sq Mi

$62,965

Median Household Income

$46,426

Median Earnings

$1,215

Median Rent

$213,700

Median Home Value

Market

Vacancy Rate% for Retail in Baltimore, MD

5.8% 2019

7.2% 2020

7% 2021

6.3% 2022

5.9% 2023

5.9% 2024

6.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercial property for sale in Baltimore, MD

Where is this storefront property located?

The property is located at 3615 East Northern Pkwy Baltimore, MD.

What is the asking price?

The asking price for this property is $2,200,000.