Mixed-Use Building with
For Sale
Contact for pricing
4601 Leeds Ave, Baltimore, MD 21229
The property combines business space with a residential apartment on the upper floor.
Property Size3,500 SF
Price / SF$214.29
Days on Market10
Property Features for 4601 Leeds Ave
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Mixed Use, Office
Zoning
BL
Additional Details
Highway Access
Yes
Multifamily Units
1
Building Details
Buildings
1
Building Size
3,500 SF
Listing Agency:
Gold and Company, LLC.
Listed By:
Jim Chivers · License #MD 617251
(443) 928-7522
Source:
Crexi
Added: Sep 18
Changed: Sep 27
Last Checked: Sep 26 at 7:00AM
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 Gold and Company, LLC.
Investment Insights
Based on property information with market context.
This freestanding mixed-use building contains approximately 3,500 square feet, with office space and a residential apartment on the upper floor. A dedicated off-street parking area serves the property, which is zoned BL (Business Local).
The site provides access to I-95 and I-695. Its combination of business and residential space is arranged within one building.
The site provides access to I-95 and I-695. Its combination of business and residential space is arranged within one building.
Key Highlights
- Approximately 3,500 square feet in a freestanding mixed‑use building
- Upper‑floor residential apartment alongside office space
- Dedicated off‑street parking area
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
$47,250
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
6.30%
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%
$945,000
$945.0K
Cap Rate 7%
$675,000
$675.0K
Cap Rate 9%
$525,000
$525.0K
Market Conditions
NOI Build-Up for 3,500 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
$84.0K $24.00/SF
− Vacancy
−$8.4K −$2.40/SF
EGI
$75.6K $21.60/SF
− OpEx
−$28.4K −$8.10/SF
NOI
$47.3K $13.50/SF
Area
ZIP 21229
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$945,000
Cap Rate 7%
$675,000
Cap Rate 9%
$525,000
Alternative Uses
Best Use
Mixed Use
$675.0K
$590.6K – $787.5K
NOI $47,250 @ 7.0% cap · market cap 6.30%
Second Best
Office B
$668.3K
$584.7K – $779.6K
NOI $46,778 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$834.4K
$730.1K – $973.5K
NOI $58,410 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
752
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 Office in Baltimore, MD
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines business space with a residential apartment on the upper floor.
Where is this mixed-use property located?
The property is located at 4601 Leeds Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 3,500 square feet in a freestanding mixed‑use building; Upper‑floor residential apartment alongside office space; Dedicated off‑street parking area
