Retail Building with Auto Shop
For Sale
Contact for pricing
4813 Belair Road, Baltimore, MD 21206
Retail building with prior auto body shop and flexible interior history, positioned on a high-traffic Northeast Baltimore corridor.
Property Size5,943 SF
Price / SF$67.31
Days on Market67
Property Features for 4813 Belair Road
General Information
Standard status
Active
Size
5,943 SF
Class
C
Property subtype
Retail
Zoning
C-2
Listing Agency:
Opara Capital Partners
Listed By:
ifeanyi Opara · License #5012915
Source:
Crexi
Added: Jun 6
Changed: Aug 7
Last Checked: Aug 10 at 12:11PM
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 Opara Capital Partners
Investment Insights
Based on property information with market context.
4813 Belair Road is a retail property offering more than 5,900 square feet, with a configuration that previously supported multiple uses within the building. Historically, an auto body shop operated at the rear of the property, while the interior space was previously leased to a church and earlier to a restaurant. The space is well suited for an owner-occupant who wants to implement capital improvements and tailor the layout to a specific retail or service concept.
The building is located on a well-trafficked road within the Northeast Baltimore commercial corridor near Baltimore County. The property benefits from strong vehicular exposure, with more than 20,000 vehicles passing daily.
For tenants or buyers looking for a street-facing commercial asset with prior compatibility for retail, dining, and service-related operations, this property offers a practical starting point. The existing multi-use history suggests the building can accommodate a range of interior configurations, while the rear location previously used for an auto body shop may support businesses that want on-site workflow space. Owner-occupants and operators should factor in the value of planning and improvements to fully develop the premises for their intended use.
The building is located on a well-trafficked road within the Northeast Baltimore commercial corridor near Baltimore County. The property benefits from strong vehicular exposure, with more than 20,000 vehicles passing daily.
For tenants or buyers looking for a street-facing commercial asset with prior compatibility for retail, dining, and service-related operations, this property offers a practical starting point. The existing multi-use history suggests the building can accommodate a range of interior configurations, while the rear location previously used for an auto body shop may support businesses that want on-site workflow space. Owner-occupants and operators should factor in the value of planning and improvements to fully develop the premises for their intended use.
Key Highlights
- Retail property exceeding 5,900 SF in the Northeast Baltimore commercial corridor
- Located on a well‑trafficked road near Baltimore County with more than 20,000 vehicles passing daily
- Rear portion historically leased to an auto body shop
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
$32,813
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
8.20%
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%
$656,260
$656.3K
Cap Rate 7%
$468,757
$468.8K
Cap Rate 9%
$364,589
$364.6K
Market Conditions
NOI Build-Up for 5,943 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
$49.9K $8.40/SF
− Vacancy
−$3.0K −$0.51/SF
EGI
$46.9K $7.89/SF
− OpEx
−$14.1K −$2.37/SF
NOI
$32.8K $5.52/SF
Area
ZIP 21206
Vacancy
6.10%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
30.00%
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%
$656,260
Cap Rate 7%
$468,757
Cap Rate 9%
$364,589
Alternative Uses
Best Use
Retail
$957.4K
$837.7K – $1.12M
NOI $67,019 @ 7.0% cap · market cap 16.75%
Second Best
Industrial
$468.8K
$410.2K – $546.9K
NOI $32,813 @ 7.0% cap · market cap 8.20%
Theoretical Best
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,552 @ 7.0% cap · market cap 21.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 21206, MD
49,470
Population
21,939
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
6,777
Density / Sq Mi
$62,965
Median Household Income
$46,426
Median Earnings
$1,215
Median Rent
$213,700
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail building with prior auto body shop and flexible interior history, positioned on a high-traffic Northeast Baltimore corridor.
Where is this retail space located?
The property is located at 4813 Belair Road Baltimore, MD.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Retail property exceeding 5,900 SF in the Northeast Baltimore commercial corridor; Located on a well‑trafficked road near Baltimore County with more than 20,000 vehicles passing daily; Rear portion historically leased to an auto body shop
