1044 Charles St, Baltimore, MD 21230-4057
- Investment properties
- 7,747 SF
- 0.07 lot acres
Current Use by Public Records
- Smitty's Liquor Co. / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
Property Details for 1044 Charles St
- Year built
- 1900
- Construction
- BRICK
- Lot size
- 0.07 lot acres
- Zone code
- C-1
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 23-03-0933 -017
- APU
- 23030933017
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 25, 2009 | — | Jnc Properties LLC | Jung,sung J & Eun M | Grant Deed · related | — |
| — | — | Eun M Jung | — | Deed Of Trust · related | $200k · Wachovia Bank NA |
| — | — | Sung J Jung | — | Deed Of Trust · related | $101k · Bank Of America |
| — | — | Sung J Jung | — | Deed Of Trust · related | $60k · Nationsbank NA (south) |
Description
This exceptional mixed-use property, located at 1044 S Charles St in Baltimore, MD's desirable Federal Hill neighborhood, presents a compelling value-add investment opportunity. The 7,747 square foot building, constructed in 1900 and boasting three stories, currently generates a NOI of $102,000 with a 6.38% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $165,351 and a 10.33% cap rate, reflecting substantial upside potential. The property is comprised of five units: a ground floor storefront currently leased to a liquor store with seven years remaining on a stable lease, and four residential apartment units above, all currently at 100% occupancy. This corner lot location offers exceptional visibility and accessibility, further enhancing the value of the commercial space. The strong rental demand in Federal Hill, coupled with the long-term lease and the potential for rental income growth in the residential units, makes this a highly attractive investment for those seeking both stability and significant appreciation. The asking price is $1,600,000, translating to $206.53 per square foot. This property offers a diversified income stream and a prime location in a thriving Baltimore neighborhood.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,780,000
- 6.5%
- $1,645,000
- 7%
- $1,525,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,399,000
- AI Estimate
- $1,045,000
Market price range: $600k - $1.99MMarket price range: $703k - $1.35M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,370,000 Current use
- AUTO REPAIR, GARAGE
- $1,785,000 Change: +31% Conversion: Difficult
- RESTAURANT
- $1,760,000 Change: +29% Conversion: Difficult
- OFFICE BUILDING
- $1,590,000 Change: +16% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $1,420,000 Change: +4% Conversion: Difficult
- MEDICAL BUILDING
- $1,125,000 Change: -18% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore City
- State
- Maryland
- Longitude
- -76.6146
- Latitude
- 39.2769
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
