Two-Story Storefront with Mixed
For Sale
Contact for pricing
1989 West St, Annapolis, MD 21401
Two-story mixed-use storefront building zoned BCE, with a residential lot included.
Property Size3,450 SF
Price / SF$217.39
Days on Market1295
Property Features for 1989 West St
General Information
Standard status
Active
Size
3,450 SF
Property subtype
RETAIL
Zoning
bce
Building Details
Buildings
1
Stories
2
Listing Agency:
Douglas Commercial
(301) 655-8253
Listed By:
Scott Douglas · License #580592
Source:
Moodyscre
Added: Jan 25, 2023
Changed: Aug 8
Last Checked: Jul 28 at 3:59AM
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
Investment Insights
Based on property information with market context.
This two-story mixed-use storefront building is offered for sale at 1989 West St, Annapolis, MD 21401. The property totals 3,450 square feet and is zoned BCE.
The offering also includes a residential lot, supporting owner-user or mixed-use planning needs. The combined configuration may be useful for buyers looking to operate and/or develop alongside residential space.
Please note that zoning is identified as BCE in the provided information. Buyers should confirm specific permitted uses and any development or use requirements with the appropriate local authorities before proceeding.
The offering also includes a residential lot, supporting owner-user or mixed-use planning needs. The combined configuration may be useful for buyers looking to operate and/or develop alongside residential space.
Please note that zoning is identified as BCE in the provided information. Buyers should confirm specific permitted uses and any development or use requirements with the appropriate local authorities before proceeding.
Key Highlights
- 3,450 SF two‑story mixed‑use storefront building
- Zoned BCE
- Residential lot included with the offering
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,831
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$976,620
$976.6K
Cap Rate 7%
$697,586
$697.6K
Cap Rate 9%
$542,567
$542.6K
Market Conditions
NOI Build-Up for 3,450 SF
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.
Gross rent
$74.5K $21.60/SF
− Vacancy
−$4.8K −$1.38/SF
EGI
$69.8K $20.22/SF
− OpEx
−$20.9K −$6.07/SF
NOI
$48.8K $14.15/SF
Area
Anne Arundel County, MD
Vacancy
6.39%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$976,620
Cap Rate 7%
$697,586
Cap Rate 9%
$542,567
Alternative Uses
Best Use
Retail
$697.6K
$610.4K – $813.9K
NOI $48,831 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$883.1K – $1.18M
NOI $70,645 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,103
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 59%
Office Supplies 38%
Electronics 3%
Lidl
Groceries
16,233 visits/mo
0.4 miles
Office Depot
Office Supplies
10,368 visits/mo
0.5 miles
Boost Mobile
Electronics
943 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dazzling Florist — 107 Gibralter Ave, Annapolis, MD 21401
- Adrimar Flowers & Gifts — 1900 Fairfax Rd, Annapolis, MD 21401
Frequently Asked Questions
What type of property is this?
Storefront property - Two-story mixed-use storefront building zoned BCE, with a residential lot included.
Where is this storefront property located?
The property is located at 1989 West St Annapolis, MD.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,450 SF two‑story mixed‑use storefront building; Zoned BCE; Residential lot included with the offering
