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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2400 Boston St Baltimore, MD 21224

    • Strip malls
    • 56,874 SF
    • 0.88 lot acres
    For Lease
    View listing
    Last Sale
    Jan 27, 2025
    $12,000,000
    Value Estimations
    $11,950,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1428412
    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

    • Tropical Smoothie Cafe / Restaurant
    • Ricoh Support At Aol / (Bike/Boat/Book/etc) Store / Corporate Office
    • Intelligent Digital Services / Marketing & Advertising
    • The Law Office of David S. Dolgin / Law Firm
    • BECS: Building Envelope Consultants and Scientists, LLC / Engineering Consultant / Building Consultant

    Property Details for 2400 Boston St

    Year built
    1998
    Construction
    BRICK
    Lot size
    0.88 lot acres
    Property size
    56,874 SF
    Zone code
    C-3
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    01-06-1876 -001
    APU
    1061876001

    Description

    The Can Company, a landmark 205,000 square foot mixed-use building, offers exceptional executive office space in Baltimore's vibrant Canton neighborhood. Situated along the Inner Harbor waterfront, this property enjoys a prime location bridging the historic and modern sections of Canton. The building boasts 11 suites, with available spaces ranging from 1,232 to 47,700 contiguous square feet, providing flexibility for businesses of various sizes. A total of 118,923 square feet is currently vacant. The Can Company played a significant role in Canton's revitalization, and its strategic location offers easy access to the Baltimore waterfront and numerous lively neighborhoods, including Brewer's Hill, Fells Point, Harbor East, and downtown. A short five-minute drive to I-95 ensures convenient commuting. Ample parking is available with 300 spaces dedicated to retail. This is a unique opportunity to establish a presence in a thriving, historically significant Baltimore location. The property's mixed-use nature and proximity to residential areas create a dynamic and convenient environment for businesses and employees alike. Contact us today to explore the available office suites and discover the potential of this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,890,000
      ML approach
      $8,135,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,900,000
      6.5%
      $11,905,000
      7%
      $11,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,514,000
      Market price range: $5.38M - $14.5M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $10,415,000
      Current use
      OFFICE BUILDING
      $16,585,000
      Change: +59% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $13,125,000
      Change: +26% Conversion: Difficult
      RESTAURANT
      $11,295,000
      Change: +8% Conversion: Difficult
      WAREHOUSE, STORAGE
      $8,650,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.5815
    Latitude
    39.2816
    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
    $245,440
    $958,300
    $9,441,700
    $10,400,000
    -
    $958,300
    $9,441,700
    $10,400,000

    Comparable in this City

    • Value Estimation
      $945,000
      7,140 SF

      6214 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 7,140 SF
      6214 Eastern Ave, Baltimore, MD 21224-2906
      View Details
    • Value Estimation
      $2,185,000
      25,000 SF

      Baltimore St

      SHOPPING CENTER, STRIP CENTER • 25,000 SF
      Baltimore St, Baltimore, MD 21224
      View Details
    • Value Estimation
      $28,655,000
      302,152 SF

      2500 Boston St

      SHOPPING CENTER, STRIP CENTER • 302,152 SF
      2500 Boston St, Baltimore, MD 21224-3658
      View Details
    • Value Estimation
      $13,955,000
      67,412 SF

      6500 Eastern Ave, Unit 3

      SHOPPING CENTER, STRIP CENTER • 67,412 SF
      6500 Eastern Ave, Baltimore, MD 21224-2900
      View Details
    • Value Estimation
      $4,630,000
      54,000 SF

      121 Kane St

      WHOLESALE OUTLET, DISCOUNT STORE • 54,000 SF
      121 Kane St, Baltimore, MD 21224-1727
      View Details
    • Value Estimation
      $600,000
      6,050 SF

      7856 Eastern Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,050 SF
      7856 Eastern Ave, Baltimore, MD 21224-2115
      View Details

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      Retail/Office Building in Baltimore

      Retail or office property for sale in Baltimore, Maryland.
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    • New
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      0.13 Acres

      Established Auto Business For Sale

      Turnkey auto mechanic shop and car dealership opportunity in Baltimore.
      303 S Eaton St, Baltimore, MD 21224
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    • Contact for pricing
      5,000 SF

      Prime Dundalk Retail Space

      5,000 SF Retail Building - For Sale/Lease
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    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Regional Mall Retail Opportunity

      857,366 SF regional mall with minimal competition.
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      4,545 SF

      Restaurant Space in Canton Center

      4,545 SF restaurant space in Baltimore's Canton neighborhood.
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    • Contact for pricing
      5,000 SF

      Prime Baltimore Flex Space

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    • $4,150 /Mo

      Historic Canton Square Corner Building

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      View Details
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    2400 Boston St
    Baltimore, MD 21224
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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.

    More about this property
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