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 Market10
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
(240) 674-3937
Listed By:
Jody Bell · License #MD657917
Source:
Kandorre
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 29 at 8:59AM
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 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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.0k | $22.20 |
| − Vacancy | −$4.0k | −$3.66 |
| EGI | $20.1k | $18.54 |
| − OpEx | −$5.0k | −$4.63 |
| NOI | $15.1k | $13.90 |
1,083 SF · lease $22.20/SF/yr · vacancy 16.50% · expense 25.00%
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.
Property 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
Market
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible lower-level suite with natural light and approximately 1,083 SF, suitable for office, creative, studio, or wellness uses.
Where is this office units 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.
