Building Details

Year Built 1900

Stories 2

Listing Agency: Ashland Auction Group LLC Show Phone

Listed By: Adam M Shpritz · License #05969 Show Phone

Source: Cummingsrealtors

Added: Sep 1 Changed: Oct 19 Last Checked: Oct 19 at 9:47AM

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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 Ashland Auction Group LLC

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Investment Insights

Based on property information with market context.

This 3,444-square-foot, two-story restaurant property includes a commercial kitchen, dining space, bar service, and lounge areas. A liquor license is in place, and the existing configuration supports continued restaurant operations or a reimagined hospitality concept. Built in 1900, the property is currently owner-occupied and will be delivered vacant at settlement.

The building is directly across from Northeast Market and near Johns Hopkins Hospital. Access is provided through E. Monument Street and Orleans Street, connecting the property with surrounding Baltimore destinations and nearby residential areas.

Key Highlights

• 3,444‑square‑foot two‑story restaurant and lounge property
• Commercial kitchen with dining, bar, and lounge configuration
• Liquor license included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,015

Cap Rate

3.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$380,300 $380.3K

Cap Rate 7%

$271,643 $271.6K

Cap Rate 9%

$211,278 $211.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,444 SF

Gross rent

$28.9K $8.40/SF

− Vacancy

−$1.8K −$0.51/SF

EGI

$27.2K $7.89/SF

− OpEx

−$8.1K −$2.37/SF

NOI

$19.0K $5.52/SF

Area

Baltimore, MD

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 Rate 5%

$380,300

Cap Rate 7%

$271,643

Cap Rate 9%

$211,278

Alternative Uses

Best Use

Specialty Retail

$795.0K

$695.7K – $927.6K (±1% cap)

NOI $55,653 @ 7.0% cap · market cap 11.13%

Second Best

Industrial

$271.6K

$237.7K – $316.9K (±1% cap)

NOI $19,015 @ 7.0% cap · market cap 3.80%

Theoretical Best

Office A

$825.1K

$722.0K – $962.6K (±1% cap)

NOI $57,756 @ 7.0% cap · market cap 11.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Electrical Service HVAC Service Kitchen & Bath Showroom Storage Facility Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

6,531

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 21205, MD

14,691

Population

6,502

Households

2.3

Avg Household Size

34

Median Age

16%

College-Educated

78%

High-School Grad

2.1 sq mi

ZIP Area

6,996

Density / Sq Mi

$38,723

Median Household Income

$36,735

Median Earnings

$1,052

Median Rent

$94,900

Median Home Value

Market

Vacancy Rate% for Retail in Baltimore, MD

5.8% 2019

7.2% 2020

7% 2021

6.3% 2022

5.9% 2023

5.9% 2024

6.6% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Existing kitchen, bar, dining, and lounge areas support multiple service formats.

Where is this conventional restaurant located?

The property is located at 617 N DUNCAN STREET Baltimore, MD.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 3,444‑square‑foot two‑story restaurant and lounge property; Commercial kitchen with dining, bar, and lounge configuration; Liquor license included