Lower-Level Mixed-Use
New
For Sale
$205,000
723 S Charles Street # LL3, Baltimore, MD 21230
Natural light serves a flexible commercial suite identified for office, studio, wellness, and specialty business uses.
Property Size1,083 SF
Price / SF$189.29
Days on Market4
Property Features for 723 S Charles Street # LL3
General Information
Standard status
Active
Size
1,083 SF
Property subtype
Commercial
Zoning
R-8
Additional Details
Floor
Lower-Level
Taxes and HOA fees
Annual Taxes
$3,362
Amenities
Electric
Yes
Natural Gas
1
N
Public
U
No
On Street
1083.00
37700.00
Building Details
Year Built
1988
Listing Agency:
Coldwell Banker Realty
(856) 222-0077
Listed By:
Tyler Mecca
Source:
Thetristaterealestategroup
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 4:30AM
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.
Located at 723 S Charles Street in Baltimore, Unit LL3 is a lower-level mixed-use space with 1,083 square feet. Natural light reaches the interior, and the space is identified for office, administrative, creative, studio, wellness, and specialty commercial uses. The building dates to 1988, and the property is zoned R-8.
Seller financing is available. The unit’s lower-level configuration and stated range of potential uses provide the central details for evaluating the space.
Seller financing is available. The unit’s lower-level configuration and stated range of potential uses provide the central details for evaluating the space.
Key Highlights
- 1,083 SF of lower‑level mixed‑use space
- Natural light in the interior
- R‑8 zoning
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
Mixed Use
$213.5K
$186.8K – $249.1K
NOI $14,945 @ 7.0% cap · market cap 7.29%
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.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Baltimore, MD
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Natural light serves a flexible commercial suite identified for office, studio, wellness, and specialty business uses.
Where is this mixed-use property 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: 1,083 SF of lower‑level mixed‑use space; Natural light in the interior; R‑8 zoning
