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

    3728 Eastern Ave Baltimore, MD 21202

    • Turn key restaurants
    • 2,940 SF
    • 0.10 lot acres
    For Lease
    View listing
    Last Sale
    Nov 15, 2023
    $810,000
    Value Estimations
    $830,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1255519
    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

    • Chicken Rico Highlandtown / Peruvian Restaurant / Chicken Restaurant

    Property Details for 3728 Eastern Ave

    Year built
    1987
    Construction
    BRICK
    Lot size
    0.10 lot acres
    Property size
    2,940 SF
    Zone code
    C-1
    Property type
    Turn key restaurants
    APN
    26-10-6315A-020
    APU
    26106315A020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $875,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $604,000
      Market price range: $288k - $856k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $585,000
      Current use
      OFFICE BUILDING
      $855,000
      Change: +47% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $680,000
      Change: +16% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $540,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.5656
    Latitude
    39.287
    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
    $7,939
    $0.00
    $0.00
    $336,400
    -
    $171,600
    $167,200
    $338,800

    Comparable in this City

    • Value Estimation by Request
      5,170 SF

      422 Macon St

      RESTAURANT • 5,170 SF
      422 Macon St, Baltimore, MD 21224-2629
      View Details
    • Value Estimation
      $690,000
      5,856 SF

      5423 Odonnell St

      RESTAURANT • 5,856 SF
      5423 Odonnell St, Baltimore, MD 21224-4646
      View Details
    • Value Estimation by Request
      4,800 SF

      6820 Eastern Ave

      RESTAURANT • 4,800 SF
      6820 Eastern Ave, Baltimore, MD 21224-3001
      View Details
    • Value Estimation by Request
      3,285 SF

      3802 Eastern Ave

      RESTAURANT • 3,285 SF
      3802 Eastern Ave, Baltimore, MD 21224-4221
      View Details
    • Value Estimation
      $1,135,000
      2,250 SF

      2823 Odonnell St

      RESTAURANT • 2,250 SF
      2823 Odonnell St, Baltimore, MD 21224-4819
      View Details
    • Value Estimation by Request
      1,755 SF

      3023 Elliott St

      RESTAURANT • 1,755 SF
      3023 Elliott St, Baltimore, MD 21224-5081
      View Details

    Similar Nearby for Sale

    • $450,000
      2,560 SF

      Turnkey Bar and Apartment Building

      Mixed-use property with bar, apartment, and liquor license.
      3301 Foster Ave, Baltimore, MD 21224
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    • $629,000

      Restaurant and Bar Opportunity

      Restaurant/bar property for sale; liquor license available.
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    • $500,000
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      Highlandtown Multi-Unit with Commercial Space

      Vacant multi-unit property with commercial space in Highlandtown, Baltimore.
      3418 Eastern Ave, Baltimore, MD 21224
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    • $900,000

      Brewers Hill Bar and Restaurant

      Three-level bar and restaurant in Baltimore's Brewers Hill neighborhood.
      1028 S Conkling St, Baltimore, MD 21224
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      5,000 SF

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      5,000 SF Retail Building - For Sale/Lease
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      Eastern Avenue Retail Opportunity

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      6000 Eastern Ave, Baltimore, MD 21224
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    Similar Nearby for Lease

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      4,545 SF

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      4,545 SF restaurant space in Baltimore's Canton neighborhood.
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      Prime Baltimore Flex Space

      5,000 SF Flex Space For Lease
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      4,880 SF

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      Retail property with 4,880 square feet available for rent.
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      Historic Canton Square Corner Building

      Corner building in historic Canton Square with high traffic exposure.
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      Baltimore Retail Space For Rent

      5,935 SF retail space available for lease.
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    • Contact for pricing
      688 SF

      Prime Baltimore Retail Space

      688 SF Convenience Store, Available Now
      3505 Eastern Ave, Baltimore, MD 21224
      View Details
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    3728 Eastern Ave
    Baltimore, MD 21202
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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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