Second-Floor Office Condo
For Sale
Contact for pricing
1831 Forest Dr, Annapolis, MD 21401
Two second-floor office condo units are offered for sale, sold together or separately, within a professionally managed office park.
Property Size991 SF
Price / SF$98.12
Days on Market1089
Property Features for 1831 Forest Dr
General Information
Standard status
Active
Size
991 SF
Property subtype
OFFICE
Additional Details
Floor
2
Highway Access
Yes
Office Units
2
Listing Agency:
Hyatt Commercial Real Estate
(410) 260-6545
Listed By:
Judith Neighoff · License #29028
Source:
Moodyscre
Added: Aug 11, 2023
Changed: Jul 29
Last Checked: Aug 2 at 12:30PM
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
Investment Insights
Based on property information with market context.
This offering includes two second-floor condo units for sale within a quiet, professionally managed office park. The units are available individually or together, providing flexibility for owner-users and other buyers seeking office space in an organized setting.
The property offers convenient access to I-97 and US-50 via Aris T. Allen Blvd. It is also within a short distance of Downtown Annapolis, along with numerous retail and dining options.
On-site parking is abundant, supporting day-to-day operations and visitor access for the office tenants within the park.
The property offers convenient access to I-97 and US-50 via Aris T. Allen Blvd. It is also within a short distance of Downtown Annapolis, along with numerous retail and dining options.
On-site parking is abundant, supporting day-to-day operations and visitor access for the office tenants within the park.
Key Highlights
- Two second‑floor office condo units for sale, sold together or separately
- Located in a professionally managed, quiet office park with abundant parking
- Convenient access to I‑97 & US‑50 via Aris T. Allen Blvd
Financial Insights For Office B
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 | $11.3k | $11.40 |
| − Vacancy | −$2.0k | −$2.05 |
| EGI | $9.3k | $9.35 |
| − OpEx | −$2.3k | −$2.34 |
| NOI | $6.9k | $7.01 |
991 SF · lease $11.40/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$99.3K
$86.9K – $115.8K
NOI $6,948 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$289.9K
$253.7K – $338.2K
NOI $20,293 @ 7.0% cap · market cap 20.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two second-floor office condo units are offered for sale, sold together or separately, within a professionally managed office park.
Where is this office units located?
The property is located at 1831 Forest Dr Annapolis, MD.
What is the asking price?
The asking price for this property is $97,241.
What are key features of this property?
This property features: Two second‑floor office condo units for sale, sold together or separately; Located in a professionally managed, quiet office park with abundant parking; Convenient access to I‑97 & US‑50 via Aris T. Allen Blvd
