Warehouse/Truck Service Property For
For Sale
$600,000
3701 E Baltimore Street, Baltimore, MD 21224
6,380 SF warehouse/truck service property with fenced yard.
Property Size6,380 SF
Price / SF$94.04
Days on Market141
Property Features for 3701 E Baltimore Street
General Information
Standard status
Active
Size
6,380 SF
Property subtype
Industrial, Office
Zoning
I-1 (LIGHT INDUSTRIAL DISTRICT)
Listing Agency:
(443) 573-3203
Listed By:
Matthew Curran, SIOR
(443) 573-3203
Source:
Mackenziecommercial
Added: Apr 3
Changed: Aug 10
Last Checked: Aug 21 at 3:58AM
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 Matthew Curran, SIOR
Investment Insights
Based on property information with market context.
The property at 3701 E. Baltimore Street is a 6,380 SF warehouse and truck service property available for sale. The property includes three buildings, each equipped with drive-in doors. A fenced yard is also included. This property is suitable for a contractor or truck service business.
Key Highlights
- 6,380 SF ± warehouse/truck service property
- Ideal for contractor or truck service business
- Three buildings with drive‑in doors
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
$43,819
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
7.30%
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%
$876,380
$876.4K
Cap Rate 7%
$625,986
$626.0K
Cap Rate 9%
$486,878
$486.9K
Market Conditions
NOI Build-Up for 6,380 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
$55.9K $8.76/SF
− Vacancy
−$4.3K −$0.68/SF
EGI
$51.6K $8.08/SF
− OpEx
−$7.7K −$1.21/SF
NOI
$43.8K $6.87/SF
Area
ZIP 21224
Vacancy
7.76%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$876,380
Cap Rate 7%
$625,986
Cap Rate 9%
$486,878
Alternative Uses
Best Use
Warehouse
$626.0K
$547.7K – $730.3K
NOI $43,819 @ 7.0% cap · market cap 7.30%
Second Best
Industrial
$503.2K
$440.3K – $587.1K
NOI $35,226 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,993 @ 7.0% cap · market cap 17.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,967
Businesses Nearby
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 Industrial in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - 6,380 SF warehouse/truck service property with fenced yard.
Where is this truck terminal located?
The property is located at 3701 E Baltimore Street Baltimore, MD.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 6,380 SF ± warehouse/truck service property; Ideal for contractor or truck service business; Three buildings with drive‑in doors
