Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Westfield Annapolis Mall Retail Opportunity Title is generated by Realmo AI

    1040 Annapolis Mall, Annapolis, MD 21401

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Prime retail space in Annapolis, near Washington DC and Baltimore.

    Type:retail
    Property size:
    139,033 SF
    Added:
    Apr 15, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 14 at 8:10 pm

    Property Features for 1040 Annapolis Mall

    General Information

    Standard status
    Active
    Size
    139,033 SF
    Property subtype
    retail

    Spaces For Lease

    at 1040 Annapolis Mall Contact us

    We can help!

    Listing Contact
    Joe Botzler
    Joe Botzler

    Listing agent Joe Botzler

    Listing office Baltimore

    Listing date Apr 15, 2026

    Source Property.jll

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Baltimore

    HighLights

    • Prime location in Annapolis, MD, an affluent community near Washington DC & Baltimore.
    • Located within Westfield Annapolis Mall, the only enclosed mall in the submarket.
    • Significant redevelopment opportunity as a former 139,033 square foot Sears department store.
    • Strong retail submarket with high population and income demographics (100k population / $100k incomes within 5 miles).
    • Part of a successful 1,416,774 SF mall.
    • Excellent accessibility just off Route 50 and I‑97.

    Overview

    The property available for lease comprises the former Sears department store, encompassing 139,033 square feet, situated within the Westfield Annapolis Mall. This location is positioned in the Parole retail corridor of Annapolis, Maryland, an area that serves both Washington, D.C., and Baltimore. As the only enclosed mall in Annapolis, Westfield Annapolis Mall presents a major box vacancy and redevelopment opportunity within its submarket. The property benefits from a location off Route 50 and I-97. The surrounding area has local drivers including the United States Naval Academy, with a population of 100,000 and incomes of $100,000 within a 5-mile radius. The property is an integral part of a 1,416,774 square foot mall.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.546589
    Latitude
    38.991865

    Nearby Similar for Lease

    • $1,850/Mo

      Annapolis Office Condo For Lease

      First floor office condo with immediate occupancy in Annapolis, MD.
      1831 #E FOREST DRIVE, ANNAPOLIS, MD 21401
      View Details
    • $1,250/Mo

      Annapolis Office Space For Lease

      Office space for lease in Annapolis, MD.
      68 STATE CIRCLE, ANNAPOLIS, MD 21401
      View Details
    • $129-$7,506/Mo
      11-1,292 SF

      Towne Center

      1910 Towne Centre Blvd, Unit 250, Annapolis, MD 21401
      View Details
    • $129-$6,896/Mo
      11-1,292 SF

      Annapolis

      1997 Annapolis Exchange Pkwy, Unit 300, Annapolis, MD 21401
      View Details
    • $1,300/Mo
      500 SF

      West Annapolis Professional Office Space

      Standout office space in a vibrant, accessible Annapolis location.
      703 GIDDINGS Ave U-3, Annapolis, MD 21401
      View Details
    • $2,500/Mo

      Arundel Plaza Commercial Unit

      Commercial unit in Arundel Plaza, Annapolis, Maryland available for lease.
      108 OLD SOLOMONS ISLAND Road, ANNAPOLIS, MD 21401
      View Details
    • $3 SF/Yr
      1,829 SF

      Annapolis Flex Unit For Rent

      Flex unit with offices, reception, and warehouse space available.
      2012 RENARD Ct K, Annapolis, MD 21401
      View Details
    • $1,300/Mo
      500 SF

      West Annapolis Professional Office Space

      Standout office space in a vibrant Annapolis community.
      703 GIDDINGS Avenue, ANNAPOLIS, MD 21401
      View Details
    • Contact for pricing
      54,762 SF

      Annapolis Office Space For Lease

      Office space for lease in Annapolis, Maryland.
      200 Harry S. Truman Parkway, Annapolis, MD 21401
      View Details
    • Contact for pricing
      6,653 SF

      Annapolis City Marina Office Space

      Class A office space in Annapolis' Eastport neighborhood.
      410 Severn Avenue, Annapolis, MD 21403
      View Details
    • Contact for pricing
      1,861 SF

      Corner Office with Water Views

      Rare corner office condo with water views available for lease.
      100 Severn Avenue, Annapolis, MD 21403
      View Details
    • $28 SF/Yr
      1,277 SF

      Downtown Annapolis Office Condominium

      Modern office space in downtown Annapolis, walking distance to amenities.
      100 Cathedral St, Annapolis, MD
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail space in Annapolis, near Washington DC and Baltimore.
    Where is this retail space located?
    The property is located at 1040 Annapolis Mall Annapolis, MD.
    What are key features of this property?
    This property features: Prime location in Annapolis, MD, an affluent community near Washington DC & Baltimore.; Located within Westfield Annapolis Mall, the only enclosed mall in the submarket.; Significant redevelopment opportunity as a former 139,033 square foot Sears department store.
    (443) 452-1510
    We can help!
    Listing Contact
    Joe Botzler
    Joe Botzler
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1040 Annapolis Mall, Annapolis, MD 21401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!