Second-Floor Office Condo
1831 Forest Dr, Annapolis, MD 21401
For Sale
Contact for pricing
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 Market1185
Property Features for 1831 Forest Dr
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Highway Access
Office Units
Listing Agency:
Hyatt Commercial Real Estate
(410) 266-8800
Listed By:
Judith Neighoff · License #29028
(410) 260-6545
Source:
Moodyscre
Added: Aug 11, 2023
Changed: Oct 26
Last Checked: Nov 6 at 6:03AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$6,948
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$138,960
$139.0K
Cap Rate 7%
$99,257
$99.3K
Cap Rate 9%
$77,200
$77.2K
Market Conditions
NOI Build-Up for 991 SF
Gross rent
$11.3K $11.40/SF
− Vacancy
−$2.0K −$2.05/SF
EGI
$9.3K $9.35/SF
− OpEx
−$2.3K −$2.34/SF
NOI
$6.9K $7.01/SF
Area
Anne Arundel County, MD
Vacancy
18.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$138,960
Cap Rate 7%
$99,257
Cap Rate 9%
$77,200
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office Units in Annapolis
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two second-floor office condo units are offered for sale, sold together or separately, within a professionally managed office park.
Where is this office unit 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
