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

    421 Baltimore St Baltimore, MD 21202-5692

    • Retail space
    • 2,962 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Feb 20, 2025
    $415,000
    Value Estimations
    $420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0972096
    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

    • Nando's PERi-PERi / Chicken Restaurant / Chicken Shop
    • Midway Bar / Bar

    Property Details for 421 Baltimore St

    Year built
    1905
    Construction
    BRICK
    Lot size
    0.03 lot acres
    Property size
    2,962 SF
    Zone code
    C5TO*
    Property type
    Retail space
    APN
    04-11-1350 -005
    APU
    4111350005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $410,000
      ML approach
      $350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $700,000
      6.5%
      $645,000
      7%
      $600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $246,000
      Market price range: $98.1k - $247k
      AI Estimate
      $286,000
      Market price range: $106k - $286k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $540,000
      COMMERCIAL (GENERAL)
      $490,000
      WAREHOUSE, STORAGE
      $450,000
      MEDICAL BUILDING
      $430,000
      OFFICE BUILDING
      $350,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.6093
    Latitude
    39.2896
    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
    $9,183
    $146,800
    $242,300
    $389,100
    -
    $146,800
    $242,300
    $389,100

    Comparable in this City

    • Value Estimation
      $1,395,000
      73,403 SF

      711 Central Ave, Unit RTL-1

      RETAIL STORES (PERSONAL SERVICES) • 73,403 SF
      711 Central Ave, Baltimore, MD 21202-4317
      View Details
    • Value Estimation
      $240,000
      2,295 SF

      591 Old Town Mall

      RETAIL STORES (PERSONAL SERVICES) • 2,295 SF
      591 Old Town Mall, Baltimore, MD 21202-4191
      View Details
    • Value Estimation
      $240,000
      2,295 SF

      593 Old Town Mall

      RETAIL STORES (PERSONAL SERVICES) • 2,295 SF
      593 Old Town Mall, Baltimore, MD 21202
      View Details
    • Value Estimation
      $230,000
      1,836 SF

      589 Old Town Mall

      RETAIL STORES (PERSONAL SERVICES) • 1,836 SF
      589 Old Town Mall, Baltimore, MD 21202-4191
      View Details
    • Value Estimation by Request
      3,417 SF

      422 Old Town Mall

      RETAIL STORES (PERSONAL SERVICES) • 3,417 SF
      422 Old Town Mall, Baltimore, MD 21202
      View Details
    • Value Estimation
      $245,000
      2,525 SF

      524 Old Town Mall

      RETAIL STORES (PERSONAL SERVICES) • 2,525 SF
      524 Old Town Mall, Baltimore, MD 21202-4190
      View Details

    Similar Nearby for Sale

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      Baltimore Storefront Redevelopment

      Prime CBD location, 33,000 SF, high potential.
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      Redevelopment Site in Baltimore, MD

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      4,000 SF

      Retail Space with Apartment, License

      Retail property with apartment and liquor license for sale.
      4701 Eastern Ave, Baltimore, MD 21202
      View Details
    • $850,000
      5,625 SF

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      Individual retail properties • 5,625 SF
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    • Contact for pricing
      11,113 SF

      Freestanding Retail Building in Baltimore

      11,113 SF retail building on 0.86 acres for sale.
      250 W Chase St, Baltimore, MD 21202
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      5,000 SF

      Retail Space Available For Rent

      5000 square feet of retail space for lease.
      1108 Light St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      600 SF

      Retail Space Near University

      Grocery-anchored retail space with abundant parking and on-site security.
      1203-1209 W Pratt St, Baltimore, MD 21202
      View Details
    • $4,025 /Mo
      4,356 SF

      Prime Retail Space Near Mercy Hospital

      High-visibility commercial space ideal for retail or service businesses.
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      View Details
    • Contact for pricing
      5,796 SF

      Retail Space Near Johns Hopkins

      Retail space with high visibility near Johns Hopkins Hospital.
      2303 E Monument St, Baltimore, MD 21202
      View Details
    • $15 SF/Yr
      2,482 SF

      Retail and Office Space Available

      Retail and office space for rent in Baltimore, MD.
      1118 Light St, Baltimore, MD 21202
      View Details
    • Contact for pricing
      1,319 SF

      Retail Space For Sublease

      1,319 SF retail space available for sublease.
      5601 Eastern Ave, Baltimore, MD 21202
      View Details
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    421 Baltimore St
    Baltimore, MD 21202-5692
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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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