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    Class A+ Office Building Title is generated by Realmo AI

    500 E Pratt St, Baltimore, MD 21202

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    Trophy office building in Baltimore's Pratt Street Corridor.

    Type:Office
    Property size:
    279,712 SF
    Added:
    Oct 3, 2023
    Days on Market:
    977
    Last Refresh:
    May 13 at 8:01 pm

    Property Features for 500 E Pratt St

    General Information

    Standard status
    Active
    Size
    279,712 SF
    Property subtype
    Office

    Building Details

    Year Built
    2004

    Spaces For Lease

    at 500 E Pratt St Contact us

    2nd Floor $36/Mo

    Size
    2,553 SF
    Type
    Office
    Contact us

    5th Floor $36/Mo

    Size
    5,990 SF
    Type
    Office
    Contact us

    6th Floor $37/Mo

    Size
    Type
    Office
    Contact us

    7th Floor $37/Mo

    Size
    24,937 SF
    Type
    Office
    Contact us

    8th Floor $37/Mo

    Size
    24,937 SF
    Type
    Office
    Contact us

    9th Floor $37/Mo

    Size
    24,937 SF
    Type
    Office
    Contact us

    10th Floor $36/Mo

    Size
    4,001 SF
    Type
    Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Jose Flefil

    Listing agent Jose Flefil License #MD

    Listing office Morning Calm Advisors

    Listing date Oct 3, 2023

    Source Crexi

    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 Morning Calm Advisors

    HighLights

    • Class A+ trophy building in Baltimore's preferred office location with sweeping Inner Harbor views.
    • Excellent Walk Score (95), Transit Score (87), and Bike Score (83) provide unparalleled accessibility.
    • On‑site amenities include Capital Grille, Corner Bakery Café, tenant lounge, fitness studio with Peloton bike room, and meditation rooms.
    • Attached parking garage offers a high parking ratio of 2.5 spaces per 1,000 SF.
    • Efficient 24,000‑square‑foot floor plates and high ceilings (9'6" to over 11') offer flexible space.
    • On‑site management, 24/7 security, and upgraded security system with Bluetooth‑enabled entry access.

    Overview

    Located in Baltimore’s Pratt Street Corridor, 500 East Pratt is a Class A+ trophy office building offering 279,712 square feet of space. The building provides views of the Inner Harbor, the National Aquarium in Baltimore, Power Plant, and Federal Hill, with access to shops, restaurants, and entertainment. Transportation options include convenient access to the Jones Fall Expressway (I-83), I-395/I-95, Penn Station (two miles away), and the Camden MARC station (a 15-minute walk). The location has a Walk Score of 95, a Transit Score of 87, and a Bike Score of 83. On-site amenities include Capital Grille, Corner Bakery Café, a video wall, a tenant lounge, a fitness studio with a Peloton bike room, and meditation rooms. The attached parking garage offers a parking ratio of 2.5 spaces per 1,000 square feet. The building features 24,000-square-foot floor plates, 30-foot by 30-foot column spacing, and finished ceiling heights of 9-foot 6-inches to over 11 feet. On-site management and 24/7 security are provided, along with an upgraded security system with Bluetooth-enabled entry access.
    Property Profile Location Intelligence

    Current Use by Public Records

    PBMares, LLP Accounting Firm Satisky Sheldon S Law Firm Kevin E. Wesner ... Financial Advisor The Capital Grille Restaurant Quantum Wealth Management ... Financial Advisor

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6082161
    Latitude
    39.2871294

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    FAQs

    What type of property is this?
    Office building - Trophy office building in Baltimore's Pratt Street Corridor.
    Where is this office building located?
    The property is located at 500 E Pratt St Baltimore, MD.
    What is the lease rate?
    The lease rate is $36 SF/Yr.
    What are key features of this property?
    This property features: Class A+ trophy building in Baltimore's preferred office location with sweeping Inner Harbor views.; Excellent Walk Score (95), Transit Score (87), and Bike Score (83) provide unparalleled accessibility.; On‑site amenities include Capital Grille, Corner Bakery Café, tenant lounge, fitness studio with Peloton bike room, and meditation rooms.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jose Flefil
    Real Estate License ID: MD
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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