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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2413 Frederick Ave Baltimore, MD 21223

    • Lifestyle centers
    • 200,000 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Westside Shopping Center / Shopping Center & Mall
    • Westside Liquors / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Charm City Asphalt Solutions / General Contractor / Construction Company

    Property Details for 2413 Frederick Ave

    Property size
    200,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Westside Shopping Center, located at 2413 Frederick Ave in Baltimore, Maryland, presents a compelling opportunity for retail businesses seeking space in a thriving Baltimore County location. This established shopping center offers a total of 200,000 square feet of retail space, divided into eight suites. Currently, there are 31,811 square feet of vacant space available, offering flexibility for businesses of various sizes. Units range from a minimum of 1,200 square feet to a maximum contiguous space of 10,072 square feet, catering to a diverse range of retail needs. The center's strategic location in Baltimore, Maryland, zip code 21223, ensures high visibility and accessibility for customers. The property is classified as a multi-tenant retail shopping center, providing a vibrant and collaborative environment for businesses. This is an exceptional opportunity to establish or expand your retail presence in a well-established and highly visible location within the Baltimore market. The available space presents a unique chance to capitalize on the strong retail environment and attract a significant customer base. Interested parties are encouraged to inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6553
    Latitude
    39.2825

    Comparable in this City

    • Value Estimation
      $12,710,000
      87,450 SF

      2401 Frederick Ave

      SHOPPING CENTER, STRIP CENTER • 87,450 SF
      2401 Frederick Ave, Baltimore, MD 21223-2856
      View Details
    • Value Estimation by Request
      2,192 SF

      1701 Edmondson Ave

      SHOPPING CENTER, STRIP CENTER • 2,192 SF
      1701 Edmondson Ave, Baltimore, MD 21223-1374
      View Details
    • Value Estimation
      $2,510,000
      18,219 SF

      2560 Franklin St

      WHOLESALE OUTLET, DISCOUNT STORE • 18,219 SF
      2560 Franklin St, Baltimore, MD 21223-1106
      View Details
    • Value Estimation
      $1,740,000
      18,104 SF

      1518 Baltimore St

      WHOLESALE OUTLET, DISCOUNT STORE • 18,104 SF
      1518 Baltimore St, Baltimore, MD 21223-2406
      View Details
    • Value Estimation
      $2,685,000
      11,810 SF

      231 Calverton Rd

      AUTO REPAIR, GARAGE • 11,810 SF
      231 Calverton Rd, Baltimore, MD 21223
      View Details
    • Value Estimation by Request
      12,160 SF

      1424 Baltimore St

      RETAIL STORES (PERSONAL SERVICES) • 12,160 SF
      1424 Baltimore St, Baltimore, MD 21223
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      200,000 SF

      Westside Shopping Center: Baltimore

      Prime Retail Space Available in Baltimore
      2413 Frederick Ave, Baltimore, MD 21223
      View Details
    • Contact for pricing
      3,000 SF

      Grocery Anchored Retail Space

      Retail space in grocery anchored center near University of Maryland.
      1229-1231 W Pratt St, Baltimore, MD 21223
      View Details
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      3,200 SF

      Grocery Anchored Retail Space

      Retail space in grocery-anchored center near the University of Maryland.
      1251-1261 W Pratt St, Baltimore, MD 21223
      View Details
    • Contact for pricing
      4,000 SF

      Dominant Shopping Center Space Available

      Retail space in a large, accessible Baltimore shopping center.
      2437 Frederick Ave, Baltimore, MD 21223
      View Details
    • Contact for pricing
      1,200 SF

      Dominant Shopping Center Retail Space

      Retail space available in Baltimore's dominant shopping center.
      2401-2421 Frederick Ave, Baltimore, MD 21223
      View Details
    • Contact for pricing
      2,412 SF

      Dominant Shopping Center Space Available

      Retail space in a high-traffic Baltimore shopping center.
      2339 Frederick Ave, Baltimore, MD 21223
      View Details
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    2413 Frederick Ave
    Baltimore, MD 21223
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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