1044 Charles StBaltimore, MD 21230

Property Details for 1044 Charles St

Year built

1900

Construction

BRICK

Lot size

0.07 AC

Property size (Sq ft)

7,747 SF

Zone code

C-1

Property type

Investment properties

Property subtype

Live-work space

APN

23-03-0933 -017

APU

23030933017

Description

This exceptional mixed-use property, located at 1044 S Charles St in Baltimore, MD's desirable Federal Hill neighborhood, presents a compelling value-add investment opportunity. The 7,747 square foot building, constructed in 1900 and boasting three stories, currently generates a NOI of $102,000 with a 6.38% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $165,351 and a 10.33% cap rate, reflecting substantial upside potential. The property is comprised of five units: a ground floor storefront currently leased to a liquor store with seven years remaining on a stable lease, and four residential apartment units above, all currently at 100% occupancy. This corner lot location offers exceptional visibility and accessibility, further enhancing the value of the commercial space. The strong rental demand in Federal Hill, coupled with the long-term lease and the potential for rental income growth in the residential units, makes this a highly attractive investment for those seeking both stability and significant appreciation. The asking price is $1,600,000, translating to $206.53 per square foot. This property offers a diversified income stream and a prime location in a thriving Baltimore neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,670,432

  6.5%

  $1,541,937

  7%

  $1,431,799

• Comparable approach

  Method

  Valuation

  Relative Method

  $487,364

  Geo Method

  $487,364

• Alternative Use

  Use

  Valuation

  Residential

  $1,912,002

  Hospitality

  $1,751,384

  Educational

  $1,457,131

  Medical

  $1,507,244

  Retail

  $2,266,648

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Latitude

39.2769

Longitude

-76.6146

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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