3344 E Baltimore St 4,840 SF 100% Leased Retail Building Baltimore, MD 21224 $895,000 ($184.92/SF) 9.37% Cap Rate

3344 East Baltimore Street presents a stabilized mixed-use investment in Baltimore’s highly walkable Patterson Park neighborhood. The property features four residential apartments, a corner restaurant, and a retail storefront, offering diversified income streams within a single asset. At the asking price of $895,000 ($149,166 per unit), the investment delivers a 9.37% cap rate and a projected 10.99% cash-on-cash return.
Commercial income is anchored by a restaurant lease through February 2020 with 5% annual rent increases, providing predictable income growth over the remaining term. The retail store is leased through August 2028 with 4% annual increases, further strengthening the property’s long-term revenue profile. Together, the commercial tenants deliver durable base income that supports the residential component of the asset.
The residential apartments were part of a gut renovation completed in 2011 and feature updated kitchens and baths.. The building is fully electric with approximately 600 amps of electrical service, separate electric metering, and a fully sprinklered system, supporting modern operational standards and reducing long-term capital exposure.
The property sits within a Walk Score of 96, placing daily conveniences, restaurants, and neighborhood retail within easy reach. Patterson Park, located five blocks south, spans over 130 acres and offers extensive recreational amenities including running paths, tennis courts, basketball courts, a swimming pool, dog park, and community gardens—features that consistently support residential demand.
The location is also positioned near one of the region’s largest employment centers. Johns Hopkins Hospital is approximately 1.5 miles away and the Bayview campus is one mile from the property. Together with Johns Hopkins University, these institutions represent the largest employer in the Baltimore region and provide a strong foundation for both residential tenancy and neighborhood commercial activity.
3344 East Baltimore Street offers investors stable in-place income, contractual rent growth, and long-term demand drivers within one of Baltimore’s most walkable urban neighborhoods.