Lower-Level Mixed-Use Office
For Sale
$205,000
723 S Charles Street Ll3, Baltimore, MD 21230
Flexible lower-level suite with natural light and approximately 1,083 SF, suitable for office, creative, studio, or wellness uses.
Property Size1,083 SF
Price / SF$189.29
Days on Market93
Property Features for 723 S Charles Street Ll3
General Information
Standard status
Active
Size
1,083 SF
Building Details
Year Built
1988
Listing Agency:
Coldwell Banker Realty
Listed By:
Jody Bell · License #657917
(240) 674-3937
Source:
Premierehomegroup
Added: Jul 21
Changed: Oct 5
Last Checked: Oct 7 at 1:11PM
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
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Investment Insights
Based on property information with market context.
Unit LL3 is a spacious lower-level mixed-use space offering approximately 1,083 square feet of flexible layout. The space benefits from natural light, supporting a range of business and occupancy configurations. It is positioned as a private footprint option for owner-users, entrepreneurs, and investors.
The property is located at 723 S Charles Street, Baltimore, MD, and is being marketed as part of a mixed-use setting. The unit is described as well-suited for office, administrative, creative, studio, wellness, or specialty commercial use.
In addition, the owner is willing to pass through available insurance proceeds totaling $26,409.04 to a purchaser to help complete repairs and improvements and tailor the space to their needs.
The property is located at 723 S Charles Street, Baltimore, MD, and is being marketed as part of a mixed-use setting. The unit is described as well-suited for office, administrative, creative, studio, wellness, or specialty commercial use.
In addition, the owner is willing to pass through available insurance proceeds totaling $26,409.04 to a purchaser to help complete repairs and improvements and tailor the space to their needs.
Key Highlights
- Approximately 1,083 SF flexible lower‑level mixed‑use suite (LL3).
- Suitable for office, administrative, creative, studio, wellness, or specialty commercial use.
- Lower‑level space includes natural light.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,057
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,140
$301.1K
Cap Rate 7%
$215,100
$215.1K
Cap Rate 9%
$167,300
$167.3K
Market Conditions
NOI Build-Up for 1,083 SF
Gross rent
$24.0K $22.20/SF
− Vacancy
−$4.0K −$3.66/SF
EGI
$20.1K $18.54/SF
− OpEx
−$5.0K −$4.63/SF
NOI
$15.1K $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 Rate 5%
$301,140
Cap Rate 7%
$215,100
Cap Rate 9%
$167,300
Alternative Uses
Best Use
Office B
$215.1K
$188.2K – $251.0K
NOI $15,057 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.5K
$227.0K – $302.7K
NOI $18,162 @ 7.0% cap · market cap 8.86%
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
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
Frequently Asked Questions
What type of property is this?
Office unit - Flexible lower-level suite with natural light and approximately 1,083 SF, suitable for office, creative, studio, or wellness uses.
Where is this office unit located?
The property is located at 723 S Charles Street Ll3 Baltimore, MD.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Approximately 1,083 SF flexible lower‑level mixed‑use suite (LL3).; Suitable for office, administrative, creative, studio, wellness, or specialty commercial use.; Lower‑level space includes natural light.
