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

    1 Franklin St Baltimore, MD 21202-2239

    • Office buildings
    • 9,800 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $1,145,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0135686
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pope John Paul II Prayer Garden / Park
    • Native American LifeLines, Inc / Non-Profit Organization
    • Thomas Associates / Insurance Agency
    • Lemonade Selfie Museum / Museum
    • Resnick & Schwartzman LLC / Insurance Attorney

    Property Details for 1 Franklin St

    Construction
    BRICK
    Lot size
    0.06 lot acres
    Property size
    9,800 SF
    Zone code
    C-5HT
    Property type
    Office buildings
    APN
    04-01-0566 -011
    APU
    4010566011

    Description

    This exceptional four-story, 10,314 square foot building, constructed in 1915, presents a unique owner-user opportunity in Baltimore, Maryland. Located at 1 E Franklin St, in the heart of the city, this property boasts a prime corner location with high visibility. The building is currently 100% occupied, with a mix of retail and executive office space. The ground floor offers vibrant retail space featuring an open interior, high ceilings, and attractive storefront windows along Charles and Franklin Streets, currently occupied by Lemonade Selfie Museum and Native American Lifelines. The upper three floors (2,603 square feet each) comprise executive office space, accessed via a private lobby entrance and a secure passenger elevator. These floors benefit from abundant natural light, a reception area, a dedicated conference room, perimeter offices with large windows, an open work area, and private restrooms. The building is zoned C5-HT. Convenient parking is available at the nearby Baltimore Basilica parking garage, with unreserved monthly parking options at $145.00 per month. This well-maintained property offers spectacular views of the Baltimore Basilica and presents a compelling investment opportunity. The seller will consider a per-floor condo sale of floors 2-4. This is a rare chance to acquire a landmark Baltimore building with strong existing tenancy and significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,237,000
      Market price range: $616k - $1.74M
      AI Estimate
      $702,000
      Market price range: $320k - $1.03M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,150,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,795,000
      Change: +56% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,615,000
      Change: +40% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,490,000
      Change: +30% Conversion: Difficult
      MEDICAL BUILDING
      $1,425,000
      Change: +24% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,265,000
      Change: +10% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.6153
    Latitude
    39.295
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,021
    $138,600
    $752,100
    $890,700
    -
    $138,600
    $752,100
    $890,700

    Comparable in this City

    • Value Estimation
      $39,530,000
      416,884 SF

      401 Pratt St

      OFFICE BUILDING • 416,884 SF
      401 Pratt St, Baltimore, MD 21202-3117
      View Details
    • Value Estimation
      $39,900,000
      282,240 SF

      100 Pratt St

      OFFICE BUILDING • 282,240 SF
      100 Pratt St, Baltimore, MD 21202-1009
      View Details
    • Value Estimation
      $700,000
      9,360 SF

      801 Saint Paul St

      OFFICE BUILDING • 9,360 SF
      801 Saint Paul St, Baltimore, MD 21202-2448
      View Details
    • Value Estimation
      $2,215,000
      16,900 SF

      1217 Saint Paul St

      OFFICE BUILDING • 16,900 SF
      1217 Saint Paul St, Baltimore, MD 21202-2705
      View Details
    • Value Estimation by Request
      5,280 SF

      23 En Ave

      OFFICE BUILDING • 5,280 SF
      23 En Ave, Baltimore, MD 21202-5905
      View Details
    • Value Estimation
      $690,000
      4,896 SF

      540 Monument St

      OFFICE BUILDING • 4,896 SF
      540 Monument St, Baltimore, MD 21202-4131
      View Details

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    1 Franklin St
    Baltimore, MD 21202-2239
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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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