Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1228 Paca St Baltimore, MD 21230-2544
    Back to Search
    Property profile & analytics

    1228 Paca St, Baltimore, MD 21230-2544

    View on Map
    • Manufacturing properties
    • 9,179 SF
    • 0.50 lot acres
    Off-Market
    Last Sale Feb 9, 2022
    Property ID
    US40-1035369
    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.
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Scriba Welding Inc / General Contractor

    Property Details for 1228 Paca St

    Year built
    1930
    Construction
    BRICK
    Lot size
    0.50 lot acres
    Zone code
    IMU-1
    Property type
    Manufacturing properties
    APN
    21-12-0938 -065
    APU
    21120938065

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 9, 2022 — 1228 S Paca Street LLC Frederick Carl Scriba JR Deed —
    Dec 18, 2006 — Frederick C Scriba JR. Scriba,frederick C JR & Ann K Quit Claim Deed · related —
    — — Frederick C Scriba — Deed Of Trust · related $115k · Provident Bank Maryland
    — — Frederick C Scriba JR. — Loan Modification · related $350k · Pnc Bank
    — — Frederick C Scriba JR. — Deed Of Trust · related $350k · Pnc Bank
    — — Frederick C Scriba JR. — Deed Of Trust · related $250k · Pnc Bank
    — — Frederick C Scriba JR. — Deed Of Trust · related $350k · Branch Banking & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $845,000
      6.5%
      $780,000
      7%
      $725,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $780,000
      Market price range: $333k - $1.05M
      AI Estimate
      $411,000
      Market price range: $168k - $658k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $735,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.6282
    Latitude
    39.2779
    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
    $8,583
    $76,800
    $286,900
    $363,700
    -
    $76,800
    $286,900
    $363,700

    Comparable in this City

    • Value Estimation
      $10,330,000
      114,230 SF

      1700 Ridgely St Ste, Unit 1

      MANUFACTURING (LIGHT)
      1700 Ridgely St Ste, Baltimore, MD 21230-2070
      View Details
    • Value Estimation
      $800,000
      4,800 SF

      1642 Beason St

      MANUFACTURING (LIGHT)
      1642 Beason St, Baltimore, MD 21230-5335
      View Details
    • Value Estimation
      $2,375,000
      122,379 SF

      2700 Hollins Fry Rd

      MANUFACTURING (LIGHT)
      2700 Hollins Fry Rd, Baltimore, MD 21230-2998
      View Details
    • Value Estimation
      $1,045,000
      19,377 SF

      1700 Parkman Ave

      MANUFACTURING (LIGHT)
      1700 Parkman Ave, Baltimore, MD 21230-1010
      View Details
    • Value Estimation
      $870,000
      19,225 SF

      2928 Washington Blvd

      MANUFACTURING (LIGHT)
      2928 Washington Blvd, Baltimore, MD 21230-1120
      View Details
    • Value Estimation
      $1,735,000
      30,934 SF

      2807 Annapolis Rd

      MANUFACTURING (LIGHT)
      2807 Annapolis Rd, Baltimore, MD 21230-3515
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,000 SF

      Warehouse with Overhead Cranes

      18,606 SF warehouse with cranes, ideal for manufacturing.
      1227 Bush St, Baltimore, MD 21230
      View Details
    • $1,100,000
      5,000 SF

      1104 Hull St

      Flex property in Baltimore, MD
      1104 Hull St, Baltimore, MD 21230
      View Details
    • $1,485,000

      Office-Warehouse in Baltimore

      Office-warehouse with drive-in, dock-high doors, and professional offices.
      2300 Russell St, Baltimore, MD 21230
      View Details
    • Contact for pricing
      43,740 SF

      Baltimore Industrial/Retail Building For Sale

      43,740 SF industrial/retail building in Carroll Camden Industrial Area.
      1900 Bayard St, Baltimore, MD 21230
      View Details
    • $350,000
      0.10 Acres

      Baltimore Warehouse in Pigtown

      4,176 sq ft warehouse in Baltimore's Pigtown neighborhood.
      858 Carroll St, Baltimore, MD 21230
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Industrial Loft Building in Baltimore

      30,000 SF industrial loft available for sale or lease.
      1303 Carroll St, Baltimore, MD 21230
      View Details
    • Contact for pricing

      Spaces Stadium Square

      Workspaces, services and support to help you grow your business in Spaces Stadium Square
      145 Ostend St, Baltimore, MD 21230
      View Details
    • Contact for pricing
      19,027 SF

      Flex Warehouse Space Available

      21,600 SF flex-warehouse space for rent with I-95 visibility.
      1400-1462 Desoto Rd, Baltimore, MD 21230
      View Details
    • Contact for pricing
      24,000 SF

      Single Story Flex Building

      24,000 SF flex building with office and warehouse space.
      1552 Ridgely St, Baltimore, MD 21230
      View Details
    • Contact for pricing

      Warehouse Property for Lease

      Warehouse property available for lease in Baltimore, MD.
      2700 W Patapsco Ave, Baltimore, MD 21230
      View Details
    • Contact for pricing
      40,800 SF

      Baltimore Warehouse with Showroom Space

      Warehouse space for lease featuring office and showroom areas.
      2331-2339 Washington Blvd, Baltimore, MD 21230
      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.
    1228 Paca St
    Baltimore, MD 21230-2544
    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

    Thank You for Inquiry
    1228 Paca St, Baltimore, MD, 21230
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!