Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1111 Park Ave Baltimore, MD 21201-5656

    • Apartment buildings
    • 276,666 SF
    • 3.05 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2022
    $47,000,000
    Value Estimations
    $45,970,000
    Show details
    Cap Rate Potential
    7.8%
    Apartment buildings
    Location Intelligence
    Property ID
    US40-1020935
    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

    • The Dental ER - Dr. Dana Truesdale / Dental Office
    • Hassan, Hassan & Tuchman, PA / Law Firm
    • Zipcar Location / Freight Service / Logistics Company
    • Priority Printing / (Bike/Boat/Book/etc) Store / Printing Service
    • Dr. Lisa Valentine / Dental Office

    Property Details for 1111 Park Ave

    Year built
    1963
    Construction
    BRICK
    Lot size
    3.05 lot acres
    Property size
    276,666 SF
    Zone code
    TOD-2
    Property type
    Apartment buildings
    APN
    11-03-0422 -001
    APU
    11030422001

    Description

    This exceptional Baltimore, MD property at 1111 Park Ave offers a unique blend of retail and office space within a vibrant TOD-2 zoned area. The building totals 12,858 square feet, with 5,259 square feet currently vacant and available for lease. Five individual executive office suites are available, ranging in size from 375 to 5,853 square feet, perfect for businesses seeking flexible and modern workspace. The building features convenient surface and covered parking. Located in Baltimore County, Maryland, zip code 21201, this property benefits from its proximity to amenities and excellent accessibility. The building is part of a larger mixed-use development, including a 294-unit apartment building, offering a built-in customer base for retail tenants. Retail space is in a freestanding building with its own surface parking. Office spaces boast high-end finishes including 9-foot acoustical tile ceilings, two exterior entrances with handicap accessibility, and convenient men's and women's restrooms. The larger development includes attractive resident amenities such as a swimming pool, fitness center, professionally landscaped grounds, balconies, and on-site management. This is an unparalleled opportunity to secure high-quality commercial space in a thriving Baltimore location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $46,045,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $60,075,000
      6.5%
      $55,455,000
      7%
      $51,495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $34,354,000
      Market price range: $18.8M - $59.0M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $35,760,000
      Current use
      AUTO REPAIR, GARAGE
      $63,835,000
      Change: +79% Conversion: Difficult
      RESTAURANT
      $62,915,000
      Change: +76% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $50,670,000
      Change: +42% Conversion: Difficult
      WAREHOUSE, STORAGE
      $42,085,000
      Change: +18% Conversion: Difficult
      MEDICAL BUILDING
      $40,200,000
      Change: +12% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $33,370,000
      Change: -7% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $30,275,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.6216
    Latitude
    39.3056
    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
    $671,265
    $0.00
    $0.00
    $28,443,433
    -
    $5,319,800
    $38,882,100
    $44,201,900

    Comparable in this City

    • Value Estimation
      $4,985,000
      42,255 SF

      300 Charles St

      APARTMENT HOUSE (5+ UNITS) • 42,255 SF
      300 Charles St, Baltimore, MD 21201-4305
      View Details
    • Value Estimation
      $12,520,000
      211,596 SF

      1100 Bolton St

      APARTMENT HOUSE (100+ UNITS) • 211,596 SF
      1100 Bolton St, Baltimore, MD 21201-2250
      View Details
    • Value Estimation by Request
      3,354 SF

      117 Saratoga St

      APARTMENT HOUSE (5+ UNITS) • 3,354 SF
      117 Saratoga St, Baltimore, MD 21201-3525
      View Details
    • Value Estimation
      $25,080,000
      378,258 SF

      300 Lombard St

      APARTMENT HOUSE (100+ UNITS) • 378,258 SF
      300 Lombard St, Baltimore, MD 21201-2520
      View Details
    • Value Estimation by Request

      706 Park Ave

      Multifamily properties
      706 Park Ave, Baltimore, MD 21201
      View Details
    • Value Estimation
      $17,645,000
      85,168 SF

      530 Howard St

      APARTMENT HOUSE (100+ UNITS) • 85,168 SF
      530 Howard St, Baltimore, MD 21201
      View Details

    Similar Nearby for Sale

    • $1,195,000
      7,240 SF

      Historic Mount Vernon Mixed-Use Property

      Fully occupied, renovated mixed-use building in Baltimore's Mount Vernon neighborhood.
      825 N Charles St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      2,000 SF

      Historic Mixed-Use Building in Mt. Vernon

      Mixed-use building with retail space and apartments in Mt. Vernon.
      932 N Charles St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      3,632 SF

      Baltimore Mixed-Use Investment Opportunity

      Fully occupied, mixed-use building with retail and residential units.
      1125 S Charles St, Baltimore, MD 21201
      View Details
    • $640,000

      Downtown Baltimore Mixed-Use Investment

      Mixed-use property in downtown Baltimore with immediate rental income.
      222 N Liberty St, Baltimore, MD 21201
      View Details
    • $100,000

      Multi-Unit Townhouse Near Downtown Baltimore

      Three-story townhouse near downtown, partially rented, close to amenities.
      328 N Paca St, Baltimore, MD 21201
      View Details
    • $660,000

      Historic Beaux Arts Building Apartment

      Updated 3-bedroom apartment with views and historic charm.
      700 Washington Pl, Baltimore, MD 21201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,362 SF

      225 N Charles St, Baltimore, MD

      Storefront properties • 4,362 SF
      225 N Charles St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      1,059 SF

      Office Space Available Immediately

      Office space for rent, available immediately in Baltimore, MD.
      1500 N Charles St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      2,339 SF

      Renovated Office Space Near Harbor

      Recently renovated office space with parking and Inner Harbor views.
      575 S Charles St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      9,786 SF

      Office Space Available For Rent

      Office spaces ranging from 500 to 18,000 SF available.
      1030 N Charles St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      3,317 SF

      Secure Downtown Office Space Available

      Downtown office space with state-of-the-art security features.
      502 S Sharp St, Baltimore, MD 21201
      View Details
    • Contact for pricing
      4,362 SF

      Prime Baltimore Retail Space

      4,362 SF Retail Space - Available Now
      225 Liberty St, Baltimore, MD 21201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1111 Park Ave
    Baltimore, MD 21201-5656
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!