Mixed-Use Corner
For Sale
$1,300,000
5 5-7 S Carrollton Ave, Baltimore, MD 21223
Updated brick and frame mixed-use building with two commercial units on the first floor and apartments on upper levels.
Property Size4,950 SF
Price / SF$262.63
Days on Market92
Property Features for 5 5-7 S Carrollton Ave
General Information
Standard status
Active
Size
4,950 SF
Additional Details
Sprinkler System
Yes
Multifamily Units
3
Building Details
Year Built
1900
Stories
3
Construction
brick & frame
Tenancy
Multi
Listing Agency:
Century 21 Downtown
Listed By:
Gina M Gargeu · License #510631
(410) 547-1116
Source:
Hargreaveshomesales
Added: Jul 21
Changed: Oct 11
Last Checked: Oct 7 at 2:50PM
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 Century 21 Downtown
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Investment Insights
Based on property information with market context.
This updated mixed-use corner building features solid brick and frame construction originally built in 1900. The first floor includes two commercial units and one studio apartment, while the second and third floors are apartment units with two bedrooms on the second floor and one bedroom on the third floor. The building has been completely renovated and includes sprinkler systems, separately metered services, and versatile flooring options such as vinyl, ceramic tile, and concrete.
Situated on a corner lot in the Hollins Market business district, the property is positioned for visibility and accessibility. The surrounding area includes a mix of shops, restaurants, and local attractions, and the building offers views of the city and street.
For tenants or owners seeking a multi-level income setup, the configuration supports both street-facing commercial use and residential units within the same building.
Situated on a corner lot in the Hollins Market business district, the property is positioned for visibility and accessibility. The surrounding area includes a mix of shops, restaurants, and local attractions, and the building offers views of the city and street.
For tenants or owners seeking a multi-level income setup, the configuration supports both street-facing commercial use and residential units within the same building.
Key Highlights
- Built in 1900; updated brick and frame mixed‑use building in the Hollins Market business district.
- 1st floor includes two commercial units plus a studio apartment.
- 2nd floor has a 2‑bedroom apartment; 3rd floor has a 1‑bedroom apartment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,692
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,453,840
$1.5M
Cap Rate 7%
$1,038,457
$1.0M
Cap Rate 9%
$807,689
$807.7K
Market Conditions
NOI Build-Up for 4,950 SF
Gross rent
$109.9K $22.20/SF
− Vacancy
−$6.0K −$1.22/SF
EGI
$103.8K $20.98/SF
− OpEx
−$31.2K −$6.29/SF
NOI
$72.7K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,453,840
Cap Rate 7%
$1,038,457
Cap Rate 9%
$807,689
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$908.7K – $1.21M
NOI $72,692 @ 7.0% cap · market cap 5.59%
Second Best
Mixed Use
$975.9K
$853.9K – $1.14M
NOI $68,310 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,012 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 21223, MD
20,438
Population
13,034
Households
1.6
Avg Household Size
37
Median Age
12%
College-Educated
75%
High-School Grad
2.6 sq mi
ZIP Area
7,861
Density / Sq Mi
$41,828
Median Household Income
$33,367
Median Earnings
$1,110
Median Rent
$93,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated brick and frame mixed-use building with two commercial units on the first floor and apartments on upper levels.
Where is this mixed-use property located?
The property is located at 5 5-7 S Carrollton Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Built in 1900; updated brick and frame mixed‑use building in the Hollins Market business district.; 1st floor includes two commercial units plus a studio apartment.; 2nd floor has a 2‑bedroom apartment; 3rd floor has a 1‑bedroom apartment.
