Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Office Space Near Navy Stadium Title is generated by Realmo AI

    111 Forbes St, Annapolis, MD

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Executive office suites for lease near Navy Stadium.

    Type:EXECUTIVE_SUITES
    Property size:
    600 SF
    Lot size:
    0.18 Acres
    Added:
    Aug 22, 2023
    Days on Market:
    997
    Last Refresh:
    Apr 5 at 10:49 pm

    Property Features for 111 Forbes St

    General Information

    Standard status
    Active
    Size
    600 SF
    Lot size
    0.18 Acres
    Property subtype
    EXECUTIVE_SUITES

    Spaces For Lease

    at 111 Forbes St Contact us

    We can help!

    Listing Contact
    John Gallagher
    John Gallagher

    Listing agent John Gallagher License #656663

    Listing office Hyatt Commercial Real Estate

    Listing date Aug 22, 2023

    Source Moodyscre

    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 Hyatt Commercial Real Estate

    HighLights

    • Recently renovated 1st floor space
    • Executive office suites available
    • Located across from Navy Stadium
    • Walking distance to Graul’s Market, Naval Bagels, Rutabaga, Bean Rush, RAR Brewery, and Agave Mexican & Tequila Bar
    • Shared conference room
    • On‑site and street parking

    Overview

    Executive office suites are available for lease, with monthly rates ranging from $850 to $1,400. The property features recently renovated first-floor space located across from Navy Stadium. A shared conference room is available for tenant use. The location provides convenient access to nearby amenities, including Graul’s Market, Naval Bagels, Rutabaga, Bean Rush, RAR Brewery, and Agave Mexican Mexican & Tequila Bar. On-site and street parking options are available.
    Location Intelligence

    Current Use by Public Records

    Jack Martin Insurance ... Insurance Agency Smart Marine Electronics, ... Big Box & Wholesale Store Smart Computing Solutions ... Tech Support Center Chris Grizzell - The Grizzell ... Loan Service Hometown Settlement Services Title Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.505
    Latitude
    38.9886

    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
    • Contact for pricing

      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
    • $1,300/Mo

      West Annapolis Professional Office Space

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

      Towne Center

      1910 Towne Centre Blvd, Unit 250, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Annapolis

      1997 Annapolis Exchange Pkwy, Unit 300, Annapolis, MD 21401
      View Details
    • $32 SF/Yr

      Annapolis Retail/Office Space Available

      Freestanding 2,500 SF space ideal for retail or office uses.
      921 Bay Ridge Avenue, Annapolis, MD 21403
      View Details
    • Contact for pricing

      Annapolis Flex Unit For Rent

      Flex unit with offices, reception, and warehouse space available.
      2012 RENARD Ct K, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Westfield Annapolis Mall Retail Opportunity

      Prime retail space in Annapolis, near Washington DC and Baltimore.
      1040 Annapolis Mall, Annapolis, MD 21401
      View Details
    • $50 SF/Yr

      Prime Office/Retail Space on Main

      2,947 SF office/retail space with access to Main Street.
      186 Main St., Annapolis, MD 21401
      View Details
    • Contact for pricing

      Annapolis Office Space For Lease

      Office space for lease in Annapolis, Maryland.
      200 Harry S. Truman Parkway, Annapolis, MD 21401
      View Details

    FAQs

    What type of property is this?
    Serviced office - Executive office suites for lease near Navy Stadium.
    Where is this serviced office located?
    The property is located at 111 Forbes St Annapolis, MD.
    What is the lease rate?
    The lease rate is $900 /Mo.
    What are key features of this property?
    This property features: Recently renovated 1st floor space; Executive office suites available; Located across from Navy Stadium
    (410) 266-8800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Gallagher
    John Gallagher
    Real Estate License ID: 656663
    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
    111 Forbes St, Annapolis, MD
    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!