Retail Condo in Annapolis Mall
For Sale
Contact for pricing
108 Old Solomons Island Rd Suite U8, Annapolis, MD 21401
Retail condo with high visibility near Annapolis Mall and Route 50.
Property Size1,182 SF
Price / SF$308.80
Days on Market266
Property Features for 108 Old Solomons Island Rd Suite U8
General Information
Standard status
Active
Size
1,182 SF
Property subtype
Retail
Zoning
B2 - Community Shopping Center
Building Details
Tenancy
Single
Listing Agency:
Douglas Commercial
Listed By:
Scott Douglas · License #MD 580592
(301) 655-8253
Source:
Crexi
Added: Jan 27
Changed: Oct 10
Last Checked: Oct 19 at 5:26AM
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 Douglas Commercial
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Investment Insights
Based on property information with market context.
This 1,182 square foot retail condo is located at 108 Old Solomons Island Rd, Suite U8, offering a business opportunity with many possibilities. Situated in a high-traffic area within Arundel Plaza, the property benefits from high visibility and signage on the front and rear of the building, with visibility on Route 2. The location is near Parole Center, Annapolis Mall, and Downtown Annapolis, with easy access to Rt 50, Rt 97, and Rt 2. The property is a turnkey space suitable for a salon or barber shop. The HVAC unit was recently replaced. The sale price includes salon and barber shop equipment. The property is zoned B2 - Community Shopping Center. Real estate taxes are $2,880.62 per year, and condominium dues are $4,049.76 per year. The unit is also available for lease.
Key Highlights
- High visibility location with signage on front and rear of building, visible from Route 2.
- Turn‑key space ideal for a salon or barber shop, including existing equipment in the sale price.
- Convenient location near Parole Center, Annapolis Mall, and Downtown Annapolis with easy access to Rt 50, Rt 97, and Rt 2.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,786
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,720
$375.7K
Cap Rate 7%
$268,371
$268.4K
Cap Rate 9%
$208,733
$208.7K
Market Conditions
NOI Build-Up for 1,182 SF
Gross rent
$26.0K $21.96/SF
− Vacancy
−$908 −$0.77/SF
EGI
$25.0K $21.19/SF
− OpEx
−$6.3K −$5.30/SF
NOI
$18.8K $15.89/SF
Area
Anne Arundel County, MD
Vacancy
3.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,720
Cap Rate 7%
$268,371
Cap Rate 9%
$208,733
Alternative Uses
Best Use
Specialty Retail
$268.4K
$234.8K – $313.1K
NOI $18,786 @ 7.0% cap · market cap 5.15%
Second Best
Retail
$239.0K
$209.1K – $278.8K
NOI $16,730 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$345.8K
$302.6K – $403.4K
NOI $24,204 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
228k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 28%
Dining 26%
Home Improvements & Furnishings 22%
Shops & Services 9%
The Home Depot
Home Improvements & Furnishings
49,831 visits/mo
0.2 miles
Nordstrom Rack
Apparel
37,493 visits/mo
0.4 miles
DSW Designer Shoe Warehouse
Apparel
19,124 visits/mo
0.4 miles
Outback Steakhouse
Dining
18,058 visits/mo
0.2 miles
Lidl
Groceries
16,233 visits/mo
0.1 miles
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Adrimar Flowers & Gifts — 1900 Fairfax Rd, Annapolis, MD 21401
- Dazzling Florist — 107 Gibralter Ave, Annapolis, MD 21401
Frequently Asked Questions
What type of property is this?
Storefront property - Retail condo with high visibility near Annapolis Mall and Route 50.
Where is this storefront property located?
The property is located at 108 Old Solomons Island Rd Suite U8 Annapolis, MD.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: High visibility location with signage on front and rear of building, visible from Route 2.; Turn‑key space ideal for a salon or barber shop, including existing equipment in the sale price.; Convenient location near Parole Center, Annapolis Mall, and Downtown Annapolis with easy access to Rt 50, Rt 97, and Rt 2.
