Lower-Level Flex
For Sale
$145,000
723 S Charles Street Ll2, Baltimore, MD 21230
Natural light enhances this flexible commercial workspace in a lower-level setting.
Property Size684 SF
Price / SF$211.99
Days on Market87
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Property Features for 723 S Charles Street Ll2
General Information
Standard status
Active
Size
684 SF
Building Details
Year Built
1985
Listing Agency:
Coldwell Banker Realty
Listed By:
Jody Bell · License #657917
(240) 674-3937
Source:
Premierehomegroup
Added: Jul 21
Changed: Oct 4
Last Checked: Oct 7 at 2:05PM
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 LL2 is an approximately 684-square-foot lower-level flex space with a mixed-use configuration and natural light. The compact layout is suited to flexible commercial occupancy, including office, consulting, wellness, and creative work uses identified for the unit. Built in 1985, the property offers a smaller-footprint option in Baltimore’s Federal Hill area.
The unit is located at 723 S Charles Street in South Baltimore. Unit LL2 may be combined with Unit 102, creating the opportunity for a larger contiguous occupancy arrangement.
The unit is located at 723 S Charles Street in South Baltimore. Unit LL2 may be combined with Unit 102, creating the opportunity for a larger contiguous occupancy arrangement.
Key Highlights
- Approximately 684 square feet of lower‑level flex space
- Natural light in a lower‑level commercial unit
- Mixed‑use configuration for flexible occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,509
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,180
$190.2K
Cap Rate 7%
$135,843
$135.8K
Cap Rate 9%
$105,656
$105.7K
Market Conditions
NOI Build-Up for 684 SF
Gross rent
$15.2K $22.20/SF
− Vacancy
−$2.5K −$3.66/SF
EGI
$12.7K $18.54/SF
− OpEx
−$3.2K −$4.63/SF
NOI
$9.5K $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 Rate 5%
$190,180
Cap Rate 7%
$135,843
Cap Rate 9%
$105,656
Alternative Uses
Best Use
Office B
$135.8K
$118.9K – $158.5K
NOI $9,509 @ 7.0% cap · market cap 6.56%
Second Best
Flex RnD
$105.8K
$92.5K – $123.4K
NOI $7,403 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$163.9K
$143.4K – $191.2K
NOI $11,471 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,994
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Baltimore, MD
Similar Off Market Nearby
- Mindgrub Cafe — 554 e fort ave, baltimore, md 21230
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- Lucky's Gourmet Eats — 20 S Charles St ste 403 1102, Baltimore, MD 21201
- Instyle Caterers — 300 E Lombard St # 840, Baltimore, MD 21202
- Hoodfellas Catering & Food Truck — munsey building, 7 N Calvert St, Baltimore, MD 21202
Frequently Asked Questions
What type of property is this?
Flex space - Natural light enhances this flexible commercial workspace in a lower-level setting.
Where is this flex space located?
The property is located at 723 S Charles Street Ll2 Baltimore, MD.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Approximately 684 square feet of lower‑level flex space; Natural light in a lower‑level commercial unit; Mixed‑use configuration for flexible occupancy
