Two-Story Flex Space with Garage
For Sale
Contact for pricing
122 Severn Ave, Annapolis, MD 21403
Two-story flex space with an upstairs office loft, flexible first-floor area, and WMM zoning.
Property Size5,344 SF
Price / SF$317.93
Days on Market447
Property Features for 122 Severn Ave
General Information
Standard status
Active
Size
5,344 SF
Total Parking Spaces
6
Property subtype
OFFICE
Zoning
WMM
Building Details
Buildings
1
Stories
2
Listing Agency:
MacKenzie Commercial Real Estate | Annapolis
(443) 875-4578
Listed By:
Ethan Binnix
(443) 875-4578
Source:
Moodyscre
Added: May 12, 2025
Changed: Jul 29
Last Checked: Jul 31 at 8:52AM
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 MacKenzie Commercial Real Estate | Annapolis
Investment Insights
Based on property information with market context.
122 Severn Ave is a two-story office flex space offering an office loft upstairs and a flexible open area on the first floor. First-floor access is supported by a garage door with 10'4" clearance, and the property includes six off-street parking spots.
Zoned WMM, the space is set up for a variety of uses, including office, retail, light assembly, manufacturing, warehousing, and storage. The property is available for sale or lease starting May 2025.
The combination of a loft office layout, open first floor, and garage-style access can support both traditional office needs and more flexible, operations-oriented space requirements under the WMM zoning framework.
Zoned WMM, the space is set up for a variety of uses, including office, retail, light assembly, manufacturing, warehousing, and storage. The property is available for sale or lease starting May 2025.
The combination of a loft office layout, open first floor, and garage-style access can support both traditional office needs and more flexible, operations-oriented space requirements under the WMM zoning framework.
Key Highlights
- Two‑story flex space with office loft upstairs
- Flexible open first‑floor area
- Garage door provides 10'4" clearance for first‑floor access
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.1k | $20.04 |
| − Vacancy | −$8.8k | −$1.64 |
| EGI | $98.3k | $18.40 |
| − OpEx | −$34.4k | −$6.44 |
| NOI | $63.9k | $11.96 |
5,344 SF · lease $20.04/SF/yr · vacancy 8.20% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$912.9K
$798.8K – $1.07M
NOI $63,903 @ 7.0% cap · market cap 3.76%
Second Best
Office B
$535.2K
$468.3K – $624.5K
NOI $37,467 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,428 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,480
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21403, MD
31,521
Population
15,479
Households
2
Avg Household Size
42
Median Age
58%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
3,389
Density / Sq Mi
$115,068
Median Household Income
$64,638
Median Earnings
$1,872
Median Rent
$566,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Palate Pleasers, Inc — 1023 Bay Ridge Ave, Annapolis, MD 21403
Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex space with an upstairs office loft, flexible first-floor area, and WMM zoning.
Where is this flex space located?
The property is located at 122 Severn Ave Annapolis, MD.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Two‑story flex space with office loft upstairs; Flexible open first‑floor area; Garage door provides 10'4" clearance for first‑floor access
