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

    1600 Kelly Ave Baltimore, MD 21209-3624

    • Turn key restaurants
    • 7,572 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1168829
    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

    • Inner Path Wellness / Psychotherapist / Counselor
    • The Loft Bodywork Collective / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 1600 Kelly Ave

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.13 lot acres
    Property size
    7,572 SF
    Zone code
    C-1
    Property type
    Turn key restaurants
    APN
    27-17-4700A-018
    APU
    27174700A018

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,233,000
      Market price range: $720k - $2.89M
      AI Estimate
      $653,000
      Market price range: $558k - $1.36M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,555,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.652
    Latitude
    39.3669
    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
    $20,471
    $0.00
    $0.00
    $867,400
    -
    $85,500
    $815,500
    $901,000

    Comparable in this City

    • Value Estimation by Request
      1,806 SF

      1609 Sulgrave Ave

      RESTAURANT • 1,806 SF
      1609 Sulgrave Ave, Baltimore, MD 21209-3617
      View Details
    • Value Estimation
      $1,115,000
      6,448 SF

      6081 Fls Rd

      RESTAURANT • 6,448 SF
      6081 Fls Rd, Baltimore, MD 21209-2216
      View Details
    • Value Estimation by Request
      1,400 SF

      1405 Frg Ave

      RESTAURANT • 1,400 SF
      1405 Frg Ave, Baltimore, MD 21209-3880
      View Details
    • Value Estimation
      $1,505,000
      8,530 SF

      4535 Fls Rd

      RESTAURANT • 8,530 SF
      4535 Fls Rd, Baltimore, MD 21209-5032
      View Details
    • Value Estimation by Request
      2,064 SF

      1605 Sulgrave Ave

      RESTAURANT • 2,064 SF
      1605 Sulgrave Ave, Baltimore, MD 21209-3670
      View Details
    • Value Estimation by Request
      1,048 SF

      1617 Sulgrave Ave

      RESTAURANT • 1,048 SF
      1617 Sulgrave Ave, Baltimore, MD 21209
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,448 SF

      Profitable Restaurant and Retail Opportunity

      Restaurant and retail property for sale in Baltimore, Maryland.
      6081 Falls Rd, Baltimore, MD 21209
      View Details
    • Contact for pricing
      2,000 SF

      Restaurant and Apartment For Sale

      Established restaurant with full kitchen and second-floor apartment.
      1609 Sulgrave Ave, Baltimore, MD 21209
      View Details
    • Contact for pricing
      16,608 SF

      Flex/Retail Building on Falls Road

      16,608 SF flex/retail building with high visibility.
      6314 Falls Rd, Baltimore, MD 21209
      View Details
    • $600,000
      1.49 Acres

      Land Near Lake Roland Trails

      Two building sites near Lake Roland, moments from amenities.
      1310 And 2, Baltimore, MD 21209
      View Details
    • $600,000

      Baltimore Land Opportunity

      Land available in Baltimore, Maryland.
      1310 And 2, Baltimore, MD 21209
      View Details

    Similar Nearby for Lease

    • $45 SF/Yr

      Retail Space Available For Lease

      Retail space available for lease in Baltimore, Maryland.
      12165 Clarksville Pike, Baltimore, MD 21209
      View Details
    • Contact for pricing
      3,823 SF

      Mixed-Use Center in Baltimore

      Three-story mixed-use center with retail, restaurant, and office spaces.
      6080 Falls Road Ter, Baltimore, MD 21209
      View Details
    • Contact for pricing
      1,356 SF

      Retail Space on Falls Road

      New retail construction with excellent signage and parking available for lease.
      6247 Falls Rd, Baltimore, MD 21209
      View Details
    • Contact for pricing
      1,204 SF

      Retail Space in Quarry Lake

      Retail space available in upscale lifestyle center near I-695.
      2584 Quarry Lake Dr, Baltimore, MD 21209
      View Details
    • Contact for pricing
      2,500 SF

      Versatile Baltimore Property for Lease

      Office, retail, and warehouse space with convenient access.
      1421 Clarkview Rd, Baltimore, MD 21209
      View Details
    • Contact for pricing
      4,000 SF

      Office Building Near I-83 Access

      4,000 SF office building with easy access and parking.
      1404 Bare Hills Ave, Baltimore, MD 21209
      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.
    1600 Kelly Ave
    Baltimore, MD 21209-3624
    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!