Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    138 Main St Annapolis, MD 21401

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Turnkey restaurant for sale in a prime downtown location.

    Property Features for 138 Main St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1918

    We can help!

    Listing Contact
    Anna Ensley
    Source: Exitrealty

    Listing Agency: Samson Properties Listing Agent: Anna Ensley

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

    Learn more

    Overview

    Established Restaurant in Downtown Annapolis

    This is a business sale opportunity for a turnkey and well-established restaurant located in downtown Annapolis. The restaurant has approximately 1500 square feet of space and a dine-in capacity of 20 seats. The kitchen is fully equipped and ready for any menu. Situated on Main Street, the location offers excellent visibility in a vibrant and diverse restaurant scene that blends historic charm with modern culinary offerings. A beer and wine license is available. Landlord approval of the new tenant is required.
    Location Intelligence

    Current Use by Public Records

    Tarin Thai Cuisine Restaurant The Law Firm of Michael ... Law Firm Promethean Marketing Inc. Advertising Agency

    Suggested Use

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

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

    Similar Places Nearby

    Naval Academy Club

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.4889343
    Latitude
    38.9777161

    Nearby Similar for Sale

    • $599,900
      2,300 SF

      Annapolis Mixed-Use Development Opportunity

      2300 sqft split-level property in historic Annapolis.
      212 Duke Of Gloucester St, Annapolis, MD 21401
      View Details
    • New
      $1,375,000
      2,649 SF

      Historic Annapolis Multifamily Investment Opportunity

      Three furnished units near the Naval Academy with flexible rental options.
      165 King George St, Annapolis, MD 21401
      View Details
    • $899,999
      1.17 Acres

      Annapolis Commercial Building For Sale

      Two-level commercial building near Annapolis Mall and Route 50.
      2563 Forest Dr, Annapolis, MD 21401
      View Details
    • $469,000

      Annapolis Retail/Office Condo For Sale

      Prime ground-level suite in downtown Annapolis, ready for customization.
      141 West St, Annapolis, MD 21401
      View Details
    • $5,850,000
      1.13 Acres

      Annapolis Office Building For Sale

      Fully leased office building in Annapolis, Maryland, with recent renovations.
      2024 West St, Annapolis, MD 21401
      View Details
    • $1,995,000

      Cape St. Claire Worship Facility

      Worship facility on 23 acres with frontage on Rt 50.
      1016-1024 E College Pkwy, Annapolis, MD 21409
      View Details
    • Contact for pricing

      Annapolis Commercial Building on Ridgely

      Freestanding 7,438 SF building ideal for diverse commercial uses.
      12-14 Ridgely Ave, Annapolis, MD 21401
      View Details
    • $353,735

      Annapolis Office Space For Sale

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

      Renovated Office Building Near Downtown

      Three-story renovated office building with ample parking near Annapolis.
      1205 West St, Annapolis, MD 21401
      View Details
    • $5,850,000

      Remodeled Leased Office Building

      Recently remodeled office building, fully leased, prime location.
      2024 West St, Annapolis, MD 21401
      View Details
    • $750,000

      Mixed-Use Building in Parole Town

      Two-story mixed-use building with retail and residential potential.
      1989 West St, Annapolis, MD 21401
      View Details
    • $473,550

      Turnkey Medical Office Condo

      Well-appointed medical office condo with quick highway access.
      133 Defense Hwy, Annapolis, MD 21401
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant for sale in a prime downtown location.
    Where is this conventional restaurant located?
    The property is located at 138 Main St Annapolis, MD.
    What are key features of this property?
    This property features: - Turnkey, well-established restaurant in downtown Annapolis.; - Excellent visibility on popular Main St.; - Fully equipped kitchen ready for any menu.
    (240) 630-8689
    Request Owner's contact information
    138 Main St Annapolis, MD 21401
    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.
    138 Main St
    Annapolis, MD 21401
    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
    138 Main St Annapolis, MD 21401
    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

    We can help!
    Listing Contact
    Anna Ensley
    (240) 630-8689
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!