Multifamily Apartment
New
For Sale
$4,300,000
700 PARK AVENUE, Baltimore, MD 21201
Located in Mount Vernon with access to downtown, universities, hospitals, employment centers, dining, and transportation.
Property Size26,032 SF
Days on Market4
Property Features for 700 PARK AVENUE
General Information
Standard status
Active
Size
26,032 SF
Property subtype
Five Or More Units
Taxes and HOA fees
Annual Taxes
$43,846
Building Details
Building Size
26,032 SF
Year Built
1905
Listing Agency:
Coldwell Banker Realty - Washington
Listed By:
Harry N Dunstan III · License #SP98373104
(240) 731-5562
Source:
Thehulsmangroup
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 8 at 10:34AM
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 Coldwell Banker Realty - Washington
Investment Insights
Based on property information with market context.
700 Park Avenue is an apartment building in Baltimore’s Mount Vernon neighborhood. Constructed in 1905, the property is offered as-is.
The location provides access to Downtown Baltimore, major universities, hospitals, employment centers, cultural institutions, dining, and transportation.
The location provides access to Downtown Baltimore, major universities, hospitals, employment centers, cultural institutions, dining, and transportation.
Key Highlights
- 700 Park Avenue, Baltimore, MD 21201
- Apartment building constructed in 1905
- Located in Mount Vernon
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
$339,155
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%
$6,783,100
$6.8M
Cap Rate 7%
$4,845,071
$4.8M
Cap Rate 9%
$3,768,389
$3.8M
Market Conditions
NOI Build-Up for 26,032 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
$656.0K $25.20/SF
− Vacancy
−$39.4K −$1.51/SF
EGI
$616.6K $23.69/SF
− OpEx
−$277.5K −$10.66/SF
NOI
$339.2K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$6,783,100
Cap Rate 7%
$4,845,071
Cap Rate 9%
$3,768,389
Alternative Uses
Best Use
Apartment 5plus
$4.85M
$4.24M – $5.65M
NOI $339,155 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.24M
$5.46M – $7.28M
NOI $436,558 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,358
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Located in Mount Vernon with access to downtown, universities, hospitals, employment centers, dining, and transportation.
Where is this apartment building located?
The property is located at 700 PARK AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 700 Park Avenue, Baltimore, MD 21201; Apartment building constructed in 1905; Located in Mount Vernon
