Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Building in Annapolis Corridor Title is generated by Realmo AI

    12 Ridgely Ave, Annapolis, MD 21401

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

    7,438 SF building on 30,800 SF lot for sale.

    Type:Office
    Property size:
    7,438 SF
    Lot size:
    0.71 Acres
    Price / SF:
    $500/SF
    Added:
    Jan 26, 2026
    Days on Market:
    106
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 12 Ridgely Ave

    General Information

    Standard status
    Active
    Size
    7,438 SF
    Lot size
    0.71 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Scott Douglas
    Scott Douglas

    Listing agent Scott Douglas License #MD 580592

    Listing office Douglas Commercial

    Listing date Jan 26, 2026

    Source Crexi

    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

    HighLights

    • Highly accessible location in a desirable Annapolis commercial corridor.
    • Large 7,438 SF freestanding building on a 30,800 SF lot.
    • Flexible B‑2 zoning allows for diverse retail, office, medical, and commercial uses.
    • Ideal repositioning or redevelopment opportunity.
    • Ample on‑site parking and outdoor flexibility.
    • Part of a 3‑property office portfolio; two additional properties available.

    Overview

    This freestanding 7,438 SF building is situated on a 30,800 SF lot, offering flexibility for various commercial and professional uses. The B-2 zoning accommodates retail, office, medical, service, and mixed commercial applications, presenting a repositioning or redevelopment opportunity. The lot size allows for on-site parking and outdoor space. The property is part of a 3-property office portfolio, with two additional properties available.
    Location Intelligence

    Current Use by Public Records

    Hardesty Funeral Home, ... Social Service Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5022358
    Latitude
    38.9890517

    Nearby Similar for Sale

    • $699,900
      2,928 SF

      Annapolis Duplex with Income Potential

      Well-maintained duplex near downtown Annapolis, ideal for investors or owner-occupants.
      3 ELLIOTT Road, ANNAPOLIS, MD 21403
      View Details
    • $1,248,000
      2,800 SF

      Renovated Triplex in Murray Hill

      Completely renovated triplex with rental potential in Annapolis' Murray Hill.
      805 SPA Road, ANNAPOLIS, MD 21401
      View Details
    • $899,999

      Annapolis Commercial Building For Sale

      Two-level commercial building near Annapolis Mall and Route 50.
      2563 FOREST Drive, ANNAPOLIS, MD 21401
      View Details
    • $1,375,000
      2,649 SF

      Historic Annapolis Multifamily Investment

      Three fully furnished units near the Naval Academy.
      165 KING GEORGE Street, ANNAPOLIS, MD 21401
      View Details
    • $500
      7,438 SF

      Annapolis Commercial Building on Ridgely

      Freestanding 7,438 SF building ideal for diverse commercial uses.
      12-14 Ridgely Avenue, Annapolis, MD 21401
      View Details
    • $940,000

      Downtown Annapolis Office Condo For Sale

      Downtown Annapolis office condo with on-site parking available for sale.
      79 West St, Annapolis, MD 21401
      View Details
    • $899,999

      Two-Level Office Building Opportunity

      Two-level office building near Annapolis Mall, ready for business.
      2563 FOREST Dr, Annapolis, MD 21401
      View Details
    • $5,850,000

      Annapolis Office Building For Sale

      Fully leased office building in Annapolis, Maryland, with recent renovations.
      2024 WEST Street, ANNAPOLIS, MD 21401
      View Details
    • $1,250,000

      Two-Story Office/Retail Building For Sale

      Two-story office/retail building with yard, garage, and prominent signage.
      110 Defense Highway, Annapolis, MD 21401
      View Details
    • $353,735

      Annapolis Office Space For Sale

      Office suite with flexible layout in a central location.
      1160 Spa Road , Annapolis, MD 21403
      View Details
    • $975,000

      Renovated Office Building Near Downtown

      Three-story renovated office building with ample parking near Annapolis.
      1205 West Street , Annapolis, MD 21401
      View Details
    • Contact for pricing
      2,781 SF

      Renovated Office Condo in Annapolis

      2,781 SF office condo in downtown Annapolis for sale.
      222 Prince George Street, Annapolis, MD 21401
      View Details

    FAQs

    What type of property is this?
    Office building - 7,438 SF building on 30,800 SF lot for sale.
    Where is this office building located?
    The property is located at 12 Ridgely Ave Annapolis, MD.
    What is the asking price?
    The asking price for this property is $3,719,000.
    What are key features of this property?
    This property features: Highly accessible location in a desirable Annapolis commercial corridor.; Large 7,438 SF freestanding building on a 30,800 SF lot.; Flexible B‑2 zoning allows for diverse retail, office, medical, and commercial uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Douglas
    Scott Douglas
    Real Estate License ID: MD 580592
    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
    12 Ridgely Ave, 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!