Annapolis Office Space
For Sale
Contact for pricing
1831 Forest Drive, Annapolis, MD 21401
Office space for sale in Annapolis, corner lot location.
Property Size2,293 SF
Price / SF$98.12
Days on Market1518
Property Features for 1831 Forest Drive
General Information
Standard status
Active
Size
2,293 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Building Details
Stories
2
Units
2
Listing Agency:
Hyatt Commercial
Listed By:
Judith Buffington · License #MD 29028
Source:
Crexi
Added: Aug 11, 2022
Changed: Oct 3
Last Checked: Oct 5 at 7:24PM
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
Investment Insights
Based on property information with market context.
This property offers an opportunity to own office space in Annapolis. It is located at the corner of Chinquapin Round Road and Forest Drive in Annapolis. The property size is 2293 square feet.
Key Highlights
- Office space ownership opportunity
- Located in Annapolis
- Corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,076
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,520
$321.5K
Cap Rate 7%
$229,657
$229.7K
Cap Rate 9%
$178,622
$178.6K
Market Conditions
NOI Build-Up for 2,293 SF
Gross rent
$26.1K $11.40/SF
− Vacancy
−$4.7K −$2.05/SF
EGI
$21.4K $9.35/SF
− OpEx
−$5.4K −$2.34/SF
NOI
$16.1K $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%
$321,520
Cap Rate 7%
$229,657
Cap Rate 9%
$178,622
Alternative Uses
Best Use
Office B
$229.7K
$201.0K – $267.9K
NOI $16,076 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.8K
$586.9K – $782.6K
NOI $46,953 @ 7.0% cap · market cap 20.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office space for sale in Annapolis, corner lot location.
Where is this office units located?
The property is located at 1831 Forest Drive Annapolis, MD.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Office space ownership opportunity; Located in Annapolis; Corner lot
