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

    6215 Eastern Ave Baltimore, MD 21224-2907

    • Retail space
    • 1,547 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    8.1%
    Retail space
    Location Intelligence
    Property ID
    US40-0850279
    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

    • Flamingo hookahs and vape / Hookah Store
    • E-M Physical Therapy Associates / Physical Therapist

    Property Details for 6215 Eastern Ave

    Year built
    1945
    Construction
    BRICK
    Lot size
    0.06 lot acres
    Property size
    1,547 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    26-01-6694 -135
    APU
    26016694135

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $310,000
      6.5%
      $285,000
      7%
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $151,000
      Market price range: $127k - $235k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $170,000
      Current use
      AUTO REPAIR, GARAGE
      $355,000
      Change: +108% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $285,000
      Change: +65% Conversion: Moderate
      WAREHOUSE, STORAGE
      $235,000
      Change: +37% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $225,000
      Change: +31% Conversion: Easy
      MEDICAL BUILDING
      $225,000
      Change: +31% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.5421
    Latitude
    39.2873
    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
    $2,346
    $21,000
    $78,400
    $99,400
    -
    $21,000
    $78,400
    $99,400

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      3234 Eastern Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      3234 Eastern Ave, Baltimore, MD 21224-4012
      View Details
    • Value Estimation by Request
      7,558 SF

      4000 Boston St

      RETAIL STORES (PERSONAL SERVICES) • 7,558 SF
      4000 Boston St, Baltimore, MD 21224-5794
      View Details
    • Value Estimation
      $210,000
      1,200 SF

      465 Pembrooke Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      465 Pembrooke Blvd, Baltimore, MD 21224-1909
      View Details
    • Value Estimation by Request
      2,100 SF

      2540 Fayette St

      RETAIL STORES (PERSONAL SERVICES) • 2,100 SF
      2540 Fayette St, Baltimore, MD 21224-1104
      View Details
    • Value Estimation by Request
      1,224 SF

      3725 Eastern Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,224 SF
      3725 Eastern Ave, Baltimore, MD 21224-4231
      View Details
    • Value Estimation by Request
      13,833 SF

      4020 Eastern Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,833 SF
      4020 Eastern Ave, Baltimore, MD 21224-4225
      View Details

    Similar Nearby for Sale

    • $299,900

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      Mixed-Use Building in Canton

      Mixed-use building with retail and residential units in Canton.
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      Mixed-Use Retail/Residential Building For Sale

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      6600 Holabird Ave

      Commercial property for sale in Baltimore, MD
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    Similar Nearby for Lease

    • Contact for pricing
      1,518 SF

      Prime Retail Space on Boston

      High-visibility retail space in a high-growth Baltimore trade area.
      3301 Boston St, Baltimore, MD 21224
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    • $10 SF/Yr
      4,800 SF

      Retail Space Available For Rent

      Retail space available for lease in Baltimore, Maryland.
      510 S Conkling St, Baltimore, MD 21224
      View Details
    • $29 SF/Yr
      5,935 SF

      Baltimore Retail Space For Rent

      5,935 SF retail space available for lease.
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    • Contact for pricing
      1,360 SF

      Retail Space on Boston Street

      Retail space with signage opportunity and high street visibility.
      2334-2350 Boston St, Baltimore, MD 21224
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    • Contact for pricing
      3,640 SF

      Highlandtown Retail Space Available

      Retail space in Baltimore's vibrant Highlandtown neighborhood.
      3907 Eastern Ave, Baltimore, MD 21224
      View Details
    • $7,200 /Mo

      Retail Space Available For Rent

      Retail space for lease in Baltimore, MD.
      101 1-5, Baltimore, MD 21224
      View Details
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    6215 Eastern Ave
    Baltimore, MD 21224-2907
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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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