Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Office/Retail Space on Main Title is generated by Realmo AI

    186 Main St., Annapolis, MD 21401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $50 SF/Yr

    2,947 SF office/retail space with access to Main Street.

    Added:
    Nov 21, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 8:50 pm

    Property Features for 186 Main St.

    General Information

    Standard status
    Active

    Spaces For Lease

    at 186 Main St. Contact us

    We can help!

    Listing Contact
    Scott Douglas
    Scott Douglas

    Listing agent Scott Douglas License #MD 580592

    Listing office Douglas Commercial

    Listing date Nov 21, 2025

    Source Douglascommercial

    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 Douglas Commercial

    HighLights

    • Prime office/retail space with 2,947 sq ft and direct access to Main Street and State Circle.
    • Located on pedestrian‑friendly Main Street, near the State Capitol, US Naval Academy, and waterfront.
    • Over 45 ft of retail frontage on the desirable Main Street corridor.
    • Comprised of two condo units connected by internal stairwell and elevator.
    • Customer parking available on Main Street and in nearby Hillman Garage.
    • High‑end finishes throughout the space.

    Overview

    The property at 186 Main Street offers 2,947 square feet of office or retail space. It features direct access to both Main Street and 7 State Circle. The location benefits from its proximity to the State Capitol, the US Naval Academy, and the waterfront. The property consists of two condo units connected by an internal stairwell and an elevator. It includes over 45 feet of retail frontage on Main Street. Customer parking is available along Main Street and in the Hillman Garage, which is 300 feet away. The space overlooks Main Street and features high-end finishes throughout. It is suitable for lobbyists, attorneys, and other professionals who need to be close to the State Government and the Maryland State House. Main Street is a pedestrian-friendly retail area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    B Boutique Annapolis Clothing Store Crabtown Pest Control ... Animal Shelter La Belle Cezanne (Bike/Boat/Book/etc) Store

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.4905
    Latitude
    38.978

    Nearby Similar for Lease

    • $1,850/Mo

      Annapolis Office Condo For Lease

      First floor office condo with immediate occupancy in Annapolis, MD.
      1831 #E FOREST DRIVE, ANNAPOLIS, MD 21401
      View Details
    • $1,250/Mo

      Annapolis Office Space For Lease

      Office space for lease in Annapolis, MD.
      68 STATE CIRCLE, ANNAPOLIS, MD 21401
      View Details
    • $129-$7,506/Mo
      11-1,292 SF

      Towne Center

      1910 Towne Centre Blvd, Unit 250, Annapolis, MD 21401
      View Details
    • $129-$6,896/Mo
      11-1,292 SF

      Annapolis

      1997 Annapolis Exchange Pkwy, Unit 300, Annapolis, MD 21401
      View Details
    • $1,300/Mo
      500 SF

      West Annapolis Professional Office Space

      Standout office space in a vibrant, accessible Annapolis location.
      703 GIDDINGS Ave U-3, Annapolis, MD 21401
      View Details
    • $2,500/Mo

      Arundel Plaza Commercial Unit

      Commercial unit in Arundel Plaza, Annapolis, Maryland available for lease.
      108 OLD SOLOMONS ISLAND Road, ANNAPOLIS, MD 21401
      View Details
    • $3 SF/Yr
      1,829 SF

      Annapolis Flex Unit For Rent

      Flex unit with offices, reception, and warehouse space available.
      2012 RENARD Ct K, Annapolis, MD 21401
      View Details
    • $1,300/Mo
      500 SF

      West Annapolis Professional Office Space

      Standout office space in a vibrant Annapolis community.
      703 GIDDINGS Avenue, ANNAPOLIS, MD 21401
      View Details
    • $32 SF/Yr
      2,500 SF

      Annapolis Retail/Office Space Available

      Freestanding 2,500 SF space ideal for retail or office uses.
      921 Bay Ridge Avenue, Annapolis, MD 21403
      View Details
    • Contact for pricing
      139,033 SF

      Westfield Annapolis Mall Retail Opportunity

      Prime retail space in Annapolis, near Washington DC and Baltimore.
      1040 Annapolis Mall, Annapolis, MD 21401
      View Details
    • Contact for pricing
      54,762 SF

      Annapolis Office Space For Lease

      Office space for lease in Annapolis, Maryland.
      200 Harry S. Truman Parkway, Annapolis, MD 21401
      View Details
    • Contact for pricing
      6,653 SF

      Annapolis City Marina Office Space

      Class A office space in Annapolis' Eastport neighborhood.
      410 Severn Avenue, Annapolis, MD 21403
      View Details

    FAQs

    What type of property is this?
    Office units - 2,947 SF office/retail space with access to Main Street.
    Where is this office units located?
    The property is located at 186 Main St. Annapolis, MD.
    What is the lease rate?
    The lease rate is $50 SF/Yr.
    What are key features of this property?
    This property features: Prime office/retail space with 2,947 sq ft and direct access to Main Street and State Circle.; Located on pedestrian‑friendly Main Street, near the State Capitol, US Naval Academy, and waterfront.; **Over 45 ft of retail frontage on the desirable Main Street corridor.**
    (301) 655-8253
    We can help!
    Listing Contact
    Scott Douglas
    Scott Douglas
    Real Estate License ID: MD 580592
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    186 Main St., Annapolis, MD 21401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!