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    Property profile & analytics

    5923 Belair Rd Baltimore, MD 21206-2614

    • Investment properties
    • 1,589 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2025
    $100,000
    Value Estimations
    $105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0289870
    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

    • Investment properties

    Property Details for 5923 Belair Rd

    Year built
    1922
    Construction
    BRICK
    Lot size
    0.08 lot acres
    Property size
    1,589 SF
    Zone code
    C-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    26-23-5730 -009
    APU
    26235730009

    Description

    This exceptional mixed-use property, located at 5923 Belair Road in Baltimore, Maryland, presents a unique investment opportunity. Boasting 1,589 square feet, this building, constructed in 1922, offers significant potential for redevelopment. The asking price is $125,000, translating to a price per square foot of $78.67. The property's rich history includes previous uses as a barber shop and a local hardware store's warehouse. While a complete renovation is required, the property includes a valuable one-car garage, ideal for storage. Convenient on-street parking is also available directly in front of the building. The property is being sold "as is," allowing for maximum flexibility in its future use. The anticipated occupancy date is August 14, 2024. This location in the 21206 zip code offers excellent potential for a variety of commercial ventures, given its size and prime Baltimore location. The property's unique character and potential for transformation make it an attractive proposition for investors seeking a hands-on project with substantial upside.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $100,000
      ML approach
      $125,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $127,000
      Market price range: $118k - $381k

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.5404
    Latitude
    39.3457
    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
    $1,303
    $29,500
    $25,700
    $55,200
    -
    $29,500
    $25,700
    $55,200

    Comparable in this City

    • Value Estimation by Request
      2,822 SF

      5511 Belair Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,822 SF
      5511 Belair Rd, Baltimore, MD 21206-3646
      View Details
    • Value Estimation by Request
      1,422 SF

      7301 Belair Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,422 SF
      7301 Belair Rd, Baltimore, MD 21206-1131
      View Details
    • Value Estimation
      $400,000
      3,343 SF

      1 Overlea Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,343 SF
      1 Overlea Ave, Baltimore, MD 21206-1039
      View Details
    • Value Estimation
      $390,000
      6,477 SF

      5527 Belair Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 6,477 SF
      5527 Belair Rd, Baltimore, MD 21206-3615
      View Details
    • Value Estimation
      $475,000
      5,026 SF

      4925 Belair Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,026 SF
      4925 Belair Rd, Baltimore, MD 21206-5648
      View Details
    • Value Estimation by Request
      1,044 SF

      5876 Belair Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,044 SF
      5876 Belair Rd, Baltimore, MD 21206-2612
      View Details

    Similar Nearby for Sale

    • $375,000
      2,100 SF

      Mixed-Use Property on Belair Road

      Mixed-use property with live-work opportunity in Cedmont Neighborhood.
      6407 Belair Rd, Baltimore, MD 21206
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    • $480,000
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      Belair Road Mixed-Use Investment

      Seven-unit property, high ROI potential.
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    • $175,000
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      Mixed-Use Building with Income Potential

      Three-story mixed-use building with first-floor tenant and renovation potential.
      5447 Belair Rd, Baltimore, MD 21206
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    • Contact for pricing

      Belair Road Mixed-Use Investment

      Baltimore Commercial Property: High Visibility
      6515 Belair Rd, Baltimore, MD 21206
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    • $1,200,000

      Belair Road Restaurant & Bar

      Established Baltimore eatery, huge potential!
      6506 Belair Radl, Baltimore, MD 21206
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    • $100,000

      Land Parcel in Frankford Neighborhood

      Land lot in Baltimore City's Frankford neighborhood, formerly Gardenville Swim Club.
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    Similar Nearby for Lease

    • Contact for pricing
      4,080 SF

      Sinclair Plaza: Baltimore Retail Space

      Prime Baltimore retail space, multiple suites available.
      5500 Sinclair Ln, Baltimore, MD 21206
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    • $5,500 /Mo

      Belair Road Standalone Office Building

      Standalone office building with 13 offices for rent.
      5444 Belair Rd, Baltimore, MD 21206
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    • $995 /Mo

      Second Floor Office Space

      Commercial-zoned office space with kitchen and bathroom available for rent.
      5138 Fl Rear Entrance, Baltimore, MD 21206
      View Details
    • Contact for pricing
      5,600 SF

      Retail Space Near Interstate Access

      Retail spaces available near major interstates with high traffic volume.
      5418-5432 Sinclair Ln, Baltimore, MD 21206
      View Details
    • $450 /Mo

      Versatile Commercial Space in Baltimore

      Small office/storefront near 695, utilities included.
      5138 Belair Rd, Baltimore, MD 21206
      View Details
    • $12 SF/Yr
      1,470 SF

      Retail Suites on Belair Road

      Retail suites available with basement space, ideal for various businesses.
      6649-6651 Belair Rd, Baltimore, MD 21206
      View Details
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    5923 Belair Rd
    Baltimore, MD 21206-2614
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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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