Lower-Level Flex Space with Natural
For Sale
$94,400
723 S CHARLES STREET Unit LL2, Baltimore, MD 21230
Lower-level commercial unit with flexible mixed-use configuration and potential to connect with Unit 102.
Property Size684 SF
Price / SF$138.01
Days on Market189
Property Features for 723 S CHARLES STREET Unit LL2
General Information
Standard status
Active
Size
684 SF
Property subtype
Office
Site & Location
Neighborhood
Otterbein
Additional Details
Floor
Lower Level
Taxes and HOA fees
Annual Taxes
$2,561
Building Details
Building Size
684 SF
Year Built
1985
Listing Agency:
Coldwell Banker Realty
Listed By:
Jody Bell · License #657917
(240) 674-3937
Source:
Thehulsmangroup
Added: Apr 20
Changed: Oct 24
Last Checked: Oct 23 at 2:55PM
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 LL2 is a 684-square-foot lower-level flex space within a 1985 commercial property at 723 S Charles Street in Baltimore, Maryland. The mixed-use layout provides a compact footprint for business operations, while natural light adds functionality uncommon in many below-grade settings.
The unit can be combined with Unit 102 to create a larger contiguous occupancy. Its address places the property in South Baltimore, with the opportunity to evaluate both the existing unit and the adjacent expansion option as part of an ownership or occupancy plan.
The unit can be combined with Unit 102 to create a larger contiguous occupancy. Its address places the property in South Baltimore, with the opportunity to evaluate both the existing unit and the adjacent expansion option as part of an ownership or occupancy plan.
Key Highlights
- 684 SF lower‑level flex space
- Natural light in a below‑grade unit
- Mixed‑use configuration for commercial occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,403
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$148,060
$148.1K
Cap Rate 7%
$105,757
$105.8K
Cap Rate 9%
$82,256
$82.3K
Market Conditions
NOI Build-Up for 684 SF
Gross rent
$12.3K $18.00/SF
− Vacancy
−$923 −$1.35/SF
EGI
$11.4K $16.65/SF
− OpEx
−$4.0K −$5.83/SF
NOI
$7.4K $10.82/SF
Area
Baltimore, MD
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$148,060
Cap Rate 7%
$105,757
Cap Rate 9%
$82,256
Alternative Uses
Best Use
Office B
$135.8K
$118.9K – $158.5K
NOI $9,509 @ 7.0% cap · market cap 10.07%
Second Best
Flex RnD
$105.8K
$92.5K – $123.4K
NOI $7,403 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$163.9K
$143.4K – $191.2K
NOI $11,471 @ 7.0% cap · market cap 12.15%
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
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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Market
Vacancy Rate% for Office in Baltimore, MD
Similar Off Market Nearby
- Mindgrub Cafe — 554 e fort ave, baltimore, md 21230
- Harbor Market Catering — 501 pier 3, baltimore, md 21202
- 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 - Lower-level commercial unit with flexible mixed-use configuration and potential to connect with Unit 102.
Where is this flex space located?
The property is located at 723 S CHARLES STREET Unit LL2 Baltimore, MD.
What is the asking price?
The asking price for this property is $94,400.
What are key features of this property?
This property features: 684 SF lower‑level flex space; Natural light in a below‑grade unit; Mixed‑use configuration for commercial occupancy
