New search
Property profile & analytics
FOR LEASE
Office buildings
400 Pratt St 8th, Baltimore, MD 21202
Entity Owned
24-yr Hold
Free & Clear
Property ID
US40-1525653
For Lease
1 / 12
$129-$20,764/Mo
400 Pratt St,Unit 8th, Baltimore, MD 21202
View Listing →
Property summary
AI-generated overview
This Class A, 12,305 square foot office building at 400 East Pratt Street, 8th Floor, Baltimore, MD 21202, offers a variety of executive office, coworking, and creative office spaces. The building, renovated in 2019, boasts 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are available. Located in Baltimore City County, this property provides convenient access to Thurgood Marshall Airport and excellent rail links to major East Coast cities. The building features stunning harbor views, including the historic Inner Harbor's Civil War-era warships. Amenities include a business lounge, coffee bar, state-of-the-art video conferencing facilities, and on-site parking. The vibrant Inner Harbor offers numerous dining options, providing employees and clients with ample opportunities for relaxation and entertainment. This exceptional location and modern amenities make this property an ideal choice for businesses seeking a prestigious and functional workspace. Elevators are available.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
BRICK
Total area
158,912 SF
Lot
0.32 ac (13,800 SF)
Zoning code
C-5DC
APN
04-11-1381 -004
UPID
US40-1525653
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
EWPros Electrical Service General Contractor
-
P.L.S. Construction, Inc Construction Company
-
Bryant Associates, Inc. Civil Engineering Company Engineer
-
DME Construction Company
-
Aspire Website Design Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.25M
Blend (final)
Blend
$22.47M
Owner & transaction history
Pdl Pratt Associates LLC · 24 yrs held
Pdl Pratt Associates LLC
since 2002
4 recorded transactions
Zoning & alternative use
C-5DC · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$36.7M
+96.6%
Restaurant
$36.1M
+93.8%
Neighborhood: shopping center
$29.1M
+56.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$18,650,000
Current use
AUTO REPAIR, GARAGE
$36,665,000
Change: +97% · Conversion: Difficult
RESTAURANT
$36,135,000
Change: +94% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$29,105,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$26,200,000
Change: +40% · Conversion: Easy
WAREHOUSE, STORAGE
$24,175,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$23,090,000
Change: +24% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$20,540,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$22.47M
Range $20.22M – $24.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$141 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$506,597
Tax year 2023
Assessed value
$21,465,967
Assessed 2023
Previous assessed
$20,772,333
+3.3% YoY
Effective rate
2.36%
On assessed value
Land market value
$2,070,000
Improvement market value
$20,089,600
Total market value
$22,159,600
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1982
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
11
Units
1
Total area
158,912 SF
Lot
0.32 ac (13,800 SF)
Zoning code
C-5DC
APN
04-11-1381 -004
UPID
US40-1525653
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-5DC · Baltimore, MD
Zoning C-5DC · permitted uses
C-5DC · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$18.7M
AUTO REPAIR, GARAGE
Est. value
$36.7M
RESTAURANT
Est. value
$36.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$29.1M
COMMERCIAL (GENERAL)
Est. value
$26.2M
WAREHOUSE, STORAGE
Est. value
$24.2M
MEDICAL BUILDING
Est. value
$23.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
11
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Pdl Pratt Associates LLC
Entity
Free & Clear · 24 yrs held
Mailing address
32 LAFAYETTE PL, GREENWICH, CT 06830-5422
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2017
—
Pdl Pratt Associates LLC
—
Grant Deed
related
$35,000,000 · Pnc Bk/nj
Apr 17, 2002
—
Pdl Pratt Associates LLC
Pdl-rtkl Associates
Grant Deed
related
—
—
—
Pdl Pratt Associates LLC
—
Deed Of Trust
related
$21,003,733 · Pnc Bank
—
—
Pdl Pratt Associates LLC
—
Loan Modification
related
$23,000,000 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
