Renovated Mixed-Use
For Sale
$600,000
4101 Wilkens Ave, Baltimore, MD 21229
BL-zoned property combines residential and commercial occupancy across multiple spaces and two buildings.
Property Size3,471 SF
Lot Size0.19 Acres
Price / SF$172.86
Days on Market74
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Property Features for 4101 Wilkens Ave
General Information
Standard status
Active
Size
3,471 SF
Lot size
0.19 Acres
Zoning
BL
Building Details
Year Built
1897
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Keller Williams Flagship
Listed By:
Sam M Tanner · License #638462
(410) 618-2585
Source:
Soldbypattie
Added: Aug 3
Changed: Sep 30
Last Checked: Oct 15 at 12:48AM
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.
The primary building contains approximately 3,471 square feet on roughly 8,400 square feet of BL-zoned property. Its layout includes a leased two-bedroom apartment upstairs, three main-level commercial areas, and two basement spaces in shell condition. Current commercial occupancy includes a diabetic supply store and a retail showroom carrying furniture, electronics, bedding, and related merchandise.
A separate approximately 454-square-foot building is leased for deli and convenience-store use. The primary and secondary structures have received extensive updates, including electrical, HVAC, plumbing, wall, flooring, and lighting improvements; the basement areas remain unfinished. The primary building may be purchased separately, or both buildings may be acquired together. Sale is contingent upon completion of a subdivision.
A separate approximately 454-square-foot building is leased for deli and convenience-store use. The primary and secondary structures have received extensive updates, including electrical, HVAC, plumbing, wall, flooring, and lighting improvements; the basement areas remain unfinished. The primary building may be purchased separately, or both buildings may be acquired together. Sale is contingent upon completion of a subdivision.
Key Highlights
- Approximately 3,471 SF primary building on roughly 8,400 SF of BL‑zoned property
- Six potential tenant spaces, including a leased two‑bedroom apartment and three main‑level commercial areas
- Two basement spaces remain in shell condition for future buildout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,233
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,660
$944.7K
Cap Rate 7%
$674,757
$674.8K
Cap Rate 9%
$524,811
$524.8K
Market Conditions
NOI Build-Up for 3,471 SF
Gross rent
$66.6K $19.20/SF
− Vacancy
−$3.7K −$1.06/SF
EGI
$63.0K $18.14/SF
− OpEx
−$15.7K −$4.54/SF
NOI
$47.2K $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 Rate 5%
$944,660
Cap Rate 7%
$674,757
Cap Rate 9%
$524,811
Alternative Uses
Best Use
Specialty Retail
$674.8K
$590.4K – $787.2K
NOI $47,233 @ 7.0% cap · market cap 7.87%
Second Best
Mixed Use
$669.4K
$585.7K – $781.0K
NOI $46,859 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$827.5K
$724.1K – $965.4K
NOI $57,926 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Mixed-use property - BL-zoned property combines residential and commercial occupancy across multiple spaces and two buildings.
Where is this mixed-use property located?
The property is located at 4101 Wilkens Ave 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: Approximately 3,471 SF primary building on roughly 8,400 SF of BL‑zoned property; Six potential tenant spaces, including a leased two‑bedroom apartment and three main‑level commercial areas; Two basement spaces remain in shell condition for future buildout
