Convenience Store
New
For Sale
$250,000
4101 1/2 Wilkens Ave, Baltimore, MD 21229
Small commercial building with deli, grill, cooler, and customer service areas under an existing lease.
Property Size550 SF
Lot Size0.14 Acres
Price / SF$454.55
Days on Market3
Property Features for 4101 1/2 Wilkens Ave
General Information
Standard status
Active
Size
550 SF
Lot size
0.14 Acres
Zoning
BL
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Commercial Hood
Yes
Building Details
Year Built
1897
Buildings
1
Tenancy
Single
Listing Agency:
Keller Williams Flagship
(410) 618-2585
Listed By:
Sam M Tanner · License #638462
Source:
Kandorre
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 10:00AM
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 Keller Williams Flagship
Investment Insights
Based on property information with market context.
This BL-zoned convenience store property includes a compact commercial building on approximately 6,200 SF of land. The layout provides a customer-facing service area, rear grill space with a hood, three-compartment sink, wash-sink rough-in, walk-in cooler, powder room, rear entry, and extensive front glazing. The property is currently leased to a deli and convenience store operator, with the tenant completing improvements. A replacement compressor for the walk-in cooler is ready for installation, while an ansil system is needed for the hood.
The building stands on Wilkens Ave. in Baltimore County near the city line and approximately one mile inside the beltway. St. Agnes Hospital is a short distance away. The property may be acquired separately or with the adjacent two-story building, which has also undergone extensive remodeling except for two basement areas remaining in shell condition. The sale is contingent on completion of a subdivision.
The building stands on Wilkens Ave. in Baltimore County near the city line and approximately one mile inside the beltway. St. Agnes Hospital is a short distance away. The property may be acquired separately or with the adjacent two-story building, which has also undergone extensive remodeling except for two basement areas remaining in shell condition. The sale is contingent on completion of a subdivision.
Key Highlights
- BL‑zoned property on approximately 6,200 SF of land
- Currently leased to a deli and convenience store operator
- Customer service area, rear grill space, powder room, and rear entrance
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
$7,484
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
2.99%
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%
$149,680
$149.7K
Cap Rate 7%
$106,914
$106.9K
Cap Rate 9%
$83,156
$83.2K
Market Conditions
NOI Build-Up for 550 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
$10.6K $19.20/SF
− Vacancy
−$581 −$1.06/SF
EGI
$10.0K $18.14/SF
− OpEx
−$2.5K −$4.54/SF
NOI
$7.5K $13.61/SF
Area
ZIP 21229
Vacancy
5.50%
Lease Rate
$19.20 /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%
$149,680
Cap Rate 7%
$106,914
Cap Rate 9%
$83,156
Alternative Uses
Best Use
Specialty Retail
$106.9K
$93.6K – $124.7K
NOI $7,484 @ 7.0% cap · market cap 2.99%
Second Best
Retail
$92.7K
$81.1K – $108.1K
NOI $6,487 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$131.1K
$114.7K – $153.0K
NOI $9,179 @ 7.0% cap · market cap 3.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,272
Businesses Nearby
Under-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 Retail in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Small commercial building with deli, grill, cooler, and customer service areas under an existing lease.
Where is this grocery and convenience store located?
The property is located at 4101 1/2 Wilkens Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: BL‑zoned property on approximately 6,200 SF of land; Currently leased to a deli and convenience store operator; Customer service area, rear grill space, powder room, and rear entrance
