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    Property profile & analytics

    601 S Broadway Baltimore, MD 21231

    • Outlet malls
    • 20,616 SF
    • 0.18 lot acres
    For Lease
    View listing
    Last Sale
    Jan 06, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1472334
    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

    • Johns Hopkins Childrens Center: Klaus Sybil A. MD / Physician
    • Feldman Dorianne R. MD / Physician
    • Elev8 Sneaker Boutique / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • Dr. Thai T. Nguyen, MD / Physician
    • Johns Hopkins Hospital - Billings Building / Hospital

    Property Details for 601 S Broadway

    Year built
    1920
    Construction
    BRICK
    Lot size
    0.18 lot acres
    Property size
    20,616 SF
    Zone code
    C-1
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    02-05-1828 -001
    APU
    2051828001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,865,000
      6.5%
      $4,490,000
      7%
      $4,170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,850,000
      Market price range: $1.17M - $4.85M
      AI Estimate
      $3,404,000
      Market price range: $1.06M - $3.40M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,870,000
      Current use
      AUTO REPAIR, GARAGE
      $4,755,000
      Change: +66% Conversion: Difficult
      RESTAURANT
      $4,690,000
      Change: +63% Conversion: Easy
      OFFICE BUILDING
      $4,235,000
      Change: +47% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,775,000
      Change: +31% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,400,000
      Change: +18% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,135,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $2,995,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.5929
    Latitude
    39.2844
    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
    $105,398
    $389,800
    $4,076,200
    $4,466,000
    -
    $389,800
    $4,076,200
    $4,466,000

    Comparable in this City

    • Value Estimation
      $16,520,000
      121,725 SF

      1625 Thames St

      SHOPPING CENTER, STRIP CENTER • 121,725 SF
      1625 Thames St, Baltimore, MD 21231-3430
      View Details
    • Value Estimation by Request
      5,460 SF

      1390 Lancaster St

      Lifestyle centers • 5,460 SF
      1390 Lancaster St, Baltimore, MD 21231
      View Details
    • Value Estimation by Request
      0.00 Acres

      1000 Fell St, Unit P5

      RESIDENTIAL PARKING GARAGE • 0.00 Acres
      1000 Fell St, Baltimore, MD 21231-3529
      View Details
    • Value Estimation by Request
      0.01 Acres

      960 Fell St, Unit P170

      RESIDENTIAL PARKING GARAGE • 0.01 Acres
      960 Fell St, Baltimore, MD 21231-3520
      View Details
    • Value Estimation by Request
      0.00 Acres

      1530 Thames St, Unit T18

      RESIDENTIAL PARKING GARAGE • 0.00 Acres
      1530 Thames St, Baltimore, MD 21231-3400
      View Details
    • Value Estimation by Request
      0.00 Acres

      1000 Fell St, Unit P61

      RESIDENTIAL PARKING GARAGE • 0.00 Acres
      1000 Fell St, Baltimore, MD 21231-3529
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase in Baltimore, Maryland.
      708 S Bond St, Baltimore, MD 21231
      View Details
    • $195,000

      Mixed-Use Building in Fells Point

      Mixed-use building with retail/office space and two residential units.
      316 S Broadway, Baltimore, MD 21231
      View Details
    • $395,000

      Retail Building Near Fells Point

      Two-unit retail building near Fells Point Market.
      508 S Broadway, Baltimore, MD 21231
      View Details
    • $395,000
      0.05 Acres

      Broadway Retail Building in Baltimore

      Two-unit retail building near Fells Point Market.
      508 S Broadway, Baltimore, MD 21231
      View Details
    • $1,750,000
      3,075 SF

      Historic Fells Point Bar/Restaurant

      Prime Baltimore location, high NOI, strong cap rate.
      708 Bond St, Baltimore, MD 21231
      View Details

    Similar Nearby for Lease

    • $408 /Mo
      5,460 SF

      Harbor East Retail Space - Baltimore

      Prime 5,460 SF Restaurant Space, Immediate Occupancy
      1390 Lancaster St, Baltimore, MD 21231
      View Details
    • Contact for pricing
      4,574 SF

      Harbor East Retail Opportunity

      4,574 SF Retail Space, Baltimore, MD
      1401 Fleet St, Baltimore, MD 21231
      View Details
    • $16,000 /Mo

      1718 Thames St

      Building, Restaurant, Retail property for lease in Baltimore, MD
      1718 Thames St, Baltimore, MD 21231
      View Details
    • Contact for pricing
      4,200 SF

      Fells Point Retail Opportunity

      Retail space in the heart of Fells Point.
      509 S Broadway, Baltimore, MD 21231
      View Details
    • $30 SF/Yr

      Retail Space in Vibrant Neighborhood

      Retail space for rent in a dynamic, historic Baltimore neighborhood.
      2001 Fleet St, Baltimore, MD 21231
      View Details
    • $18 SF/Yr
      1,860 SF

      Baltimore Office Space: 1860 SF Available

      Prime Baltimore office space, 1860 sq ft, flexible layout.
      1509 Baltimore St, Baltimore, MD 21231
      View Details
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    601 S Broadway
    Baltimore, MD 21231
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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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