Remodeled Office Unit with
For Sale
$275,000
723 S Charles St Unit 103, Baltimore, MD 21230
Ground-level, fully wheelchair-accessible office unit with six private rooms and multiple egress points.
Property Size1,169 SF
Price / SF$235.24
Days on Market95
Property Features for 723 S Charles St Unit 103
General Information
Standard status
Active
Size
1,169 SF
Zoning
OR
Building Details
Year Built
1985
Year Renovated
2023
Construction
block and brick
Listing Agency:
Samson Properties
Listed By:
Keith A Hawkins · License #0225243770
(240) 413-6252
Source:
Lgagne
Added: Jul 21
Changed: Oct 16
Last Checked: Oct 21 at 1:25AM
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 Samson Properties
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Investment Insights
Based on property information with market context.
Unit 103 is a ground-level commercial office space remodeled in 2023, including a newer HVAC system. The building is constructed of block and brick. The unit is laid out with six private rooms, one bathroom, and a dedicated laundry room, and four of the rooms feature electric fireplaces built into the wall and included with the sale. The space is fully wheelchair accessible and includes four separate points of egress, including two exits to the parking lot, one exit to E. Hughes Street, and one interior exit through the atrium with direct access to Charles Street.
The property is zoned OR (Office–Residential) and the commercial unit can only be used for commercial purposes, not residential. The condo fee is $500 per month. Unit 103 is located in a well-maintained building with 12 one-bedroom residential units above, and the unit is positioned for street-level use on the ground floor.
The unit’s configuration supports professional office and consulting-style use, with multiple exam/office rooms within a durable, low-maintenance block-and-brick shell.
The property is zoned OR (Office–Residential) and the commercial unit can only be used for commercial purposes, not residential. The condo fee is $500 per month. Unit 103 is located in a well-maintained building with 12 one-bedroom residential units above, and the unit is positioned for street-level use on the ground floor.
The unit’s configuration supports professional office and consulting-style use, with multiple exam/office rooms within a durable, low-maintenance block-and-brick shell.
Key Highlights
- 1,169 SF ground‑level commercial unit (Unit 103) in a building built in 1985, with office/residential zoning OR (Office–Residential).
- Remodeled in 2023 and includes a newer HVAC system, helping reduce near‑term capital expenditure.
- Fully wheelchair accessible with four separate points of egress: two exits to the parking lot, one to E. Hughes St, and one interior exit via the atrium to Charles St.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,943
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,860
$338.9K
Cap Rate 7%
$242,043
$242.0K
Cap Rate 9%
$188,256
$188.3K
Market Conditions
NOI Build-Up for 1,169 SF
Gross rent
$30.9K $26.40/SF
− Vacancy
−$2.6K −$2.24/SF
EGI
$28.2K $24.16/SF
− OpEx
−$11.3K −$9.66/SF
NOI
$16.9K $14.49/SF
Area
Baltimore, MD
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,860
Cap Rate 7%
$242,043
Cap Rate 9%
$188,256
Alternative Uses
Best Use
Healthcare Medical
$242.0K
$211.8K – $282.4K
NOI $16,943 @ 7.0% cap · market cap 6.16%
Second Best
Office B
$232.2K
$203.2K – $270.9K
NOI $16,252 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$280.1K
$245.1K – $326.7K
NOI $19,604 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,994
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Office unit - Ground-level, fully wheelchair-accessible office unit with six private rooms and multiple egress points.
Where is this office unit located?
The property is located at 723 S Charles St Unit 103 Baltimore, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,169 SF ground‑level commercial unit (Unit 103) in a building built in 1985, with office/residential zoning OR (Office–Residential).; Remodeled in 2023 and includes a newer HVAC system, helping reduce near‑term capital expenditure.; Fully wheelchair accessible with four separate points of egress: two exits to the parking lot, one to E. Hughes St, and one interior exit via the atrium to Charles St.
