Penn Station — Sale in Baltimore, MD

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Baltimore, MD 21201

Description

Penn Station sits at the intersection of Baltimore’s celebrated cultural center and the rapidly developing neighborhoods to the north. Immediately surrounding the historic station is a collection of underutilized and vacant properties, currently being reimagined as a mixed-use, transit-oriented development with up to one million square feet of new office, retail, residential, and hotel uses.

Market Context

This office in Baltimore, MD is listed for sale. It has been on the market for 140 days. Compare it against other office listings for sale in Baltimore, MD — view the full market.

As of Q4 2025, the Baltimore office market showed average asking rents near $26.78/SF/yr, and cap rates around 7.5%. Source: multiple brokerage reports, Q4 2025.

Office market FAQ

What is the typical cap rate for office in Baltimore?
About 7.5% as of Q4 2025, per multiple brokerage reports.

Estimated Market Rate

$150.91/SF – $204.17/SF

Mid: $177.54/SF

Rate estimator only; cost-of-business estimate unavailable.

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