Multi-Level Office
For Sale
$625,000
4405 Leeds Ave, Baltimore, MD 21229
Multi-level office building with reception area, keyed rooms, and a partially finished lower level with utilities and communications.
Property Size3,032 SF
Price / SF$206.13
Days on Market100
Property Features for 4405 Leeds Ave
General Information
Standard status
Active
Size
3,032 SF
Additional Details
Office Units
6
Building Details
Year Built
1920
Listing Agency:
Hyatt & Company Real Estate, LLC
Listed By:
Jeffrey Choyce Sr. · License #647498
(410) 340-1841
Source:
Elkaimpropertygroup
Added: Jul 14
Changed: Oct 12
Last Checked: Oct 7 at 2:15PM
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 Hyatt & Company Real Estate, LLC
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Investment Insights
Based on property information with market context.
The main floor offers a reception area, a large main room, two keyed entry offices, a bathroom, and a refrigerator and sink area. The upper level includes four keyed entry rooms and a bathroom. The lower level is partially finished and contains multiple rooms, including a half bath, utility room, and a communication room that controls the phone and ethernet lines wired throughout the building.
The property is positioned for flexible use, with dual meters providing the option to create separate entrances from the reception area for a multi-tenant setup. A large parking lot is included in the sale, with the parking lot listed under a separate tax ID.
Overall, the building’s room layout and wired communications support professional office configurations such as sales offices, corporate offices, or co-ops.
The property is positioned for flexible use, with dual meters providing the option to create separate entrances from the reception area for a multi-tenant setup. A large parking lot is included in the sale, with the parking lot listed under a separate tax ID.
Overall, the building’s room layout and wired communications support professional office configurations such as sales offices, corporate offices, or co-ops.
Key Highlights
- Main floor includes reception area, large main room, 2 keyed entry offices, and a bathroom
- Upper level features 4 keyed entry rooms plus a bathroom
- Lower level is partially finished with multiple rooms, including 1/2 bath, utility room, and a communication room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,523
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,460
$810.5K
Cap Rate 7%
$578,900
$578.9K
Cap Rate 9%
$450,256
$450.3K
Market Conditions
NOI Build-Up for 3,032 SF
Gross rent
$65.5K $21.60/SF
− Vacancy
−$11.5K −$3.78/SF
EGI
$54.0K $17.82/SF
− OpEx
−$13.5K −$4.46/SF
NOI
$40.5K $13.37/SF
Area
ZIP 21229
Vacancy
17.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,460
Cap Rate 7%
$578,900
Cap Rate 9%
$450,256
Alternative Uses
Best Use
Office B
$578.9K
$506.5K – $675.4K
NOI $40,523 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$722.9K
$632.5K – $843.3K
NOI $50,600 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
685
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Office building - Multi-level office building with reception area, keyed rooms, and a partially finished lower level with utilities and communications.
Where is this office building located?
The property is located at 4405 Leeds Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Main floor includes reception area, large main room, 2 keyed entry offices, and a bathroom; Upper level features 4 keyed entry rooms plus a bathroom; Lower level is partially finished with multiple rooms, including 1/2 bath, utility room, and a communication room
