Mixed-Use Unit
For Sale
$165,000
723 S Charles St S Unit 102, Baltimore, MD 21230
Urban commercial space suited to office, boutique retail, service, or consulting uses, subject to applicable approvals.
Property Size868 SF
Price / SF$190.09
Days on Market25
Property Features for 723 S Charles St S Unit 102
General Information
Standard status
Active
Size
868 SF
Building Details
Year Built
1985
Listing Agency:
Coldwell Banker Realty
(240) 674-3937
Listed By:
Jody Bell · License #657917
Source:
Tbhteam
Added: Aug 7
Changed: Aug 27
Last Checked: Aug 30 at 6:59PM
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
Investment Insights
Based on property information with market context.
Unit 102 at 723 S Charles St S provides approximately 868 square feet of mixed-use commercial space in a 1985 building. The compact footprint can accommodate office, boutique commercial, service-oriented, or consulting use, with potential for live/work occupancy subject to approvals.
Located in Federal Hill, the unit offers an urban setting for an owner-user or tenant seeking a standalone commercial space. Unit 102 may also be occupied with Unit LL2, providing an option to combine the two spaces for a larger configuration.
Located in Federal Hill, the unit offers an urban setting for an owner-user or tenant seeking a standalone commercial space. Unit 102 may also be occupied with Unit LL2, providing an option to combine the two spaces for a larger configuration.
Key Highlights
- Approximately 868 SF of mixed‑use space
- Unit 102 in a 1985 building
- Potential office, boutique commercial, service, or consulting applications
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
$12,068
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
7.31%
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%
$241,360
$241.4K
Cap Rate 7%
$172,400
$172.4K
Cap Rate 9%
$134,089
$134.1K
Market Conditions
NOI Build-Up for 868 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
$19.3K $22.20/SF
− Vacancy
−$3.2K −$3.66/SF
EGI
$16.1K $18.54/SF
− OpEx
−$4.0K −$4.63/SF
NOI
$12.1K $13.90/SF
Area
Baltimore, MD
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$241,360
Cap Rate 7%
$172,400
Cap Rate 9%
$134,089
Alternative Uses
Best Use
Office B
$172.4K
$150.9K – $201.1K
NOI $12,068 @ 7.0% cap · market cap 7.31%
Second Best
Mixed Use
$171.1K
$149.7K – $199.6K
NOI $11,978 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$207.9K
$182.0K – $242.6K
NOI $14,556 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,994
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Market
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Urban commercial space suited to office, boutique retail, service, or consulting uses, subject to applicable approvals.
Where is this mixed-use property located?
The property is located at 723 S Charles St S Unit 102 Baltimore, MD.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Approximately 868 SF of mixed‑use space; Unit 102 in a 1985 building; Potential office, boutique commercial, service, or consulting applications
