Mixed-Use Building Near Lexington
For Sale
$539,000
513 W Lexington St, Baltimore, MD 21201
Three-story building with warehouse, retail, and flexible space.
Property Size6,460 SF
Price / SF$83.44
Days on Market161
Property Features for 513 W Lexington St
General Information
Standard status
Active
Size
6,460 SF
Zoning
C-5DC
Taxes and HOA fees
Annual Taxes
$4,083
Amenities
On Street
Building Details
Building Size
6,460 SF
Year Built
1870
Listing Agency:
Taylor Properties
Listed By:
Ahmad R Asif · License #658490
(443) 326-2800
Source:
Evrealestate
Added: Apr 7
Changed: Sep 3
Last Checked: Sep 13 at 3:53AM
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 Taylor Properties
Investment Insights
Based on property information with market context.
This commercial property features a three-story building with a basement, offering a large warehouse space, a retail storefront, and a flexible layout. It is suitable for wholesale operations or other commercial uses. The property is located next to the University of Maryland and Lexington Market. Six major development projects are underway nearby, suggesting strong growth potential and high visibility. The location has a bike score of 79, indicating it is very bikeable. The walk score is 96, characterizing it as a walker's paradise, and the transit score is 100, signifying it as a rider's paradise.
Key Highlights
- Unbeatable Transit Score (100): Rider's Paradise, ensuring easy access.
- Prime Location: Next to University of Maryland and Lexington Market, offering high visibility.
- Strong Growth Potential: Six major development projects underway nearby.
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
$42,545
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
7.89%
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%
$850,900
$850.9K
Cap Rate 7%
$607,786
$607.8K
Cap Rate 9%
$472,722
$472.7K
Market Conditions
NOI Build-Up for 6,460 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
$54.3K $8.40/SF
− Vacancy
−$4.2K −$0.65/SF
EGI
$50.1K $7.75/SF
− OpEx
−$7.5K −$1.16/SF
NOI
$42.5K $6.59/SF
Area
Baltimore, MD
Vacancy
7.76%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$850,900
Cap Rate 7%
$607,786
Cap Rate 9%
$472,722
Alternative Uses
Best Use
Retail
$1.31M
$1.14M – $1.52M
NOI $91,434 @ 7.0% cap · market cap 16.96%
Second Best
Mixed Use
$1.27M
$1.11M – $1.49M
NOI $89,148 @ 7.0% cap · market cap 16.54%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,335 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,291
Businesses Nearby
Explore this area
Business Placement
Demographics for 21201, MD
18,382
Population
11,468
Households
1.6
Avg Household Size
34
Median Age
47%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
14,140
Density / Sq Mi
$44,722
Median Household Income
$44,239
Median Earnings
$1,282
Median Rent
$221,900
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 Industrial in Baltimore, MD
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story building with warehouse, retail, and flexible space.
Where is this mixed-use property located?
The property is located at 513 W Lexington St Baltimore, MD.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Unbeatable Transit Score (100): Rider's Paradise, ensuring easy access.; Prime Location: Next to University of Maryland and Lexington Market, offering high visibility.; Strong Growth Potential: Six major development projects underway nearby.
