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    1908 Aliceanna St Baltimore, MD 21231
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    Property profile & analytics

    1908 Aliceanna St Baltimore, MD 21231

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    • Commercial real estate
    • 1,950 SF
    Off-Market
    Property ID
    US40-0086423
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1908 Aliceanna St

    Year built
    1900
    Property size
    1,950 SF
    Property type
    Commercial real estate
    APN
    02-07-1830-042

    Description

    This fully occupied, six-unit apartment building presents a compelling value-add investment opportunity in Baltimore's desirable Fells Point neighborhood. Located at 1908 Aliceanna Street, this three-story, 1,950 square foot building sits on a 1,640 square foot lot (APN: 02-07-1830-042) and is zoned C-1. Built in 1900, the property boasts 100% occupancy and features a mix of unit types: two rooming units, three one-bedroom/one-bathroom units, and one one-bedroom/one-and-a-half-bathroom unit. Existing features include black/white appliances, wood cabinets, hard surface countertops, and hardwood/carpet flooring. Significant value-add potential exists through renovations, including upgrading appliances to stainless steel, installing new cabinets and granite countertops, and modernizing bathrooms. Further opportunities include creating a resident picnic area and converting an existing shed into additional storage or a laundry room. Prior owners have already completed essential updates to plumbing, electrical systems, and HVAC units. The property's prime location, less than a five-minute walk from Fells Point's vibrant main street, offers easy access to numerous restaurants, bars, and shops. Its proximity to major employers like Johns Hopkins Hospital, Morgan Stanley, and Kennedy Krieger, as well as educational institutions such as Johns Hopkins Schools of Medicine and Business, further enhances its investment appeal. This fee simple ownership offers potential tax savings through entity transfer. The property's WalkScore rating as a "Walker's Paradise" underscores its convenient location and desirability. The asking price is $750,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.589513114374
    Latitude
    39.283691153308

    Comparable in this City

    • $2,400,000

      Fells Point Multifamily Investment Opportunity

      Nine-unit multifamily property in Fells Point with parking and storage.
      1516 Lancaster St, Baltimore, MD 21231
      View Details
    • $575,000

      Upper Fells Point Mixed-Use Investment

      Mixed-use property with bar, apartments, and prime location.
      301 S Ann St, Baltimore, MD 21231
      View Details
    • $875,000
      5,288 SF

      Fells Point Mixed-Use Investment

      Historic mixed-use building with bar and apartments in Baltimore.
      2112 Fleet St, Baltimore, MD 21231
      View Details

    Similar Nearby for Sale

    • $2,400,000

      Fells Point Multifamily Investment Opportunity

      Nine-unit multifamily property in Fells Point with parking and storage.
      1516 Lancaster St, Baltimore, MD 21231
      View Details
    • $575,000

      Upper Fells Point Mixed-Use Investment

      Mixed-use property with bar, apartments, and prime location.
      301 S Ann St, Baltimore, MD 21231
      View Details
    • $875,000
      5,288 SF

      Fells Point Mixed-Use Investment

      Historic mixed-use building with bar and apartments in Baltimore.
      2112 Fleet St, Baltimore, MD 21231
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,280 SF

      Historic Mixed-Use Building for Lease

      Renovated mixed-use property with office, retail, and residential spaces.
      1820 Lancaster St, Baltimore, MD 21231
      View Details
    • Contact for pricing
      42,450 SF

      Mixed-Use Development Retail Space

      Retail space available in a mixed-use development.
      600 S Caroline St, Baltimore, MD 21231
      View Details
    • Contact for pricing

      Mixed-Use Building in Fell's Point

      Mixed-use building with retail and residential units in Baltimore.
      631 S Broadway, Baltimore, MD 21231
      View Details
    • $1,100 /Mo

      Fells Point Commercial Space

      Newly renovated commercial space in the heart of Fells Point.
      1725 Bank St, Baltimore, MD 21231
      View Details
    • $3,000 /Mo

      Fleet Street Loft Opportunity

      Prime Baltimore location near waterfront with industrial loft ambiance.
      1434 Fleet St, Baltimore, MD 21231
      View Details
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    Baltimore, MD 21231
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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.

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