Mixed-Use Retail
For Sale
$1,400,000
9213 BALTIMORE AVENUE, College Park, MD 20740
Retail space and a rear studio apartment have separate private entrances.
Property Size2,016 SF
Lot Size0.18 Acres
Price / SF$694.44
Days on Market10
Property Features for 9213 BALTIMORE AVENUE
General Information
Standard status
Active
Size
2,016 SF
Lot size
0.18 Acres
Property subtype
Mixed Use
Property Condition
Severity
Repairs Needed
Evidence
good condition
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,709
Amenities
3
Composition
Driveway.
Building Details
Year Built
1944
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(410) 977-9390
Listed By:
Gopal Hariani · License #635576
(410) 977-9390
Source:
Xome
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 10:51PM
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 Berkshire Hathaway HomeServices PenFed Realty
Investment Insights
Based on property information with market context.
This mixed-use property at 9213 Baltimore Avenue in College Park combines a retail storefront with a studio apartment positioned at the rear. The two components have separate private entrances, creating distinct access for the commercial and residential portions. The retail space is identified as a Tobacco/Vape store, while the apartment provides additional on-site residential space. The building was constructed in 1944 and contains 2,016 square feet on a 0.18-acre lot.
Site features include a driveway and carport for parking access. The property is situated in a business district and has no association fee. The retail space may remain leased or be delivered vacant, providing flexibility for the next owner’s operating plans.
Site features include a driveway and carport for parking access. The property is situated in a business district and has no association fee. The retail space may remain leased or be delivered vacant, providing flexibility for the next owner’s operating plans.
Key Highlights
- 2,016‑square‑foot mixed‑use property on a 0.18‑acre lot
- Retail storefront plus a studio apartment at the rear
- Separate private entrances for the retail and residential areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,289
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$905,780
$905.8K
Cap Rate 7%
$646,986
$647.0K
Cap Rate 9%
$503,211
$503.2K
Market Conditions
NOI Build-Up for 2,016 SF
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.
Gross rent
$68.5K $33.96/SF
− Vacancy
−$3.8K −$1.87/SF
EGI
$64.7K $32.09/SF
− OpEx
−$19.4K −$9.63/SF
NOI
$45.3K $22.46/SF
Area
Prince George's County, MD
Vacancy
5.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$905,780
Cap Rate 7%
$646,986
Cap Rate 9%
$503,211
Alternative Uses
Best Use
Retail
$647.0K
$566.1K – $754.8K
NOI $45,289 @ 7.0% cap · market cap 3.23%
Second Best
Mixed Use
$363.1K
$317.7K – $423.6K
NOI $25,417 @ 7.0% cap · market cap 1.82%
Theoretical Best
Specialty Retail
$650.4K
$569.1K – $758.8K
NOI $45,525 @ 7.0% cap · market cap 3.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
8,506 visits/mo
0.1 miles
Extra Space Storage
Shops & Services
1,458 visits/mo
0.4 miles
Demographics for 20740, MD
36,930
Population
13,079
Households
2.8
Avg Household Size
27
Median Age
49%
College-Educated
86%
High-School Grad
8.8 sq mi
ZIP Area
4,197
Density / Sq Mi
$81,359
Median Household Income
$29,270
Median Earnings
$1,788
Median Rent
$417,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space and a rear studio apartment have separate private entrances.
Where is this mixed-use property located?
The property is located at 9213 BALTIMORE AVENUE College Park, MD.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2,016‑square‑foot mixed‑use property on a 0.18‑acre lot; Retail storefront plus a studio apartment at the rear; Separate private entrances for the retail and residential areas
