Live-Work Building with Retail
New
For Sale
Contact for pricing
32 West St, Annapolis, MD 21401
Mixed-use live-work building with first-floor retail and second-floor residential space.
Property Size2,444 SF
Price / SF$490
Days on Market5
Property Features for 32 West St
General Information
Standard status
Active
Size
2,444 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Listing Agency:
Douglas Commercial
(301) 655-8253
Listed By:
Scott Douglas · License #580592
Source:
Moodyscre
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 6:11AM
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 live-work building is set up for both street-level commerce and upstairs living, with mixed-use zoning supporting first-floor retail and second-floor residential uses. The configuration allows residents to work and live in the same building, making it well-suited for owner-occupancy or a tenant-run commercial setup paired with residential space.
Located at 32 West St in Annapolis, Maryland, the property is described as being on the first block of West Street. It’s also noted to be a short walk to Main Street shops and restaurants, as well as the harbor and nearby parking garages, supporting convenient day-to-day access for customers and residents.
The total property size is 2,444 square feet, providing a compact mixed-use footprint in a walkable area.
Located at 32 West St in Annapolis, Maryland, the property is described as being on the first block of West Street. It’s also noted to be a short walk to Main Street shops and restaurants, as well as the harbor and nearby parking garages, supporting convenient day-to-day access for customers and residents.
The total property size is 2,444 square feet, providing a compact mixed-use footprint in a walkable area.
Key Highlights
- Mixed‑use zoning with first‑floor retail and second‑floor residential
- Work and live in the same building
- 2,444 SF live‑work mixed‑use building
Financial Insights For Retail
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 | $52.8k | $21.60 |
| − Vacancy | −$3.4k | −$1.38 |
| EGI | $49.4k | $20.22 |
| − OpEx | −$14.8k | −$6.07 |
| NOI | $34.6k | $14.15 |
2,444 SF · lease $21.60/SF/yr · vacancy 6.39% · expense 30.00%
Alternative Uses
Best Use
Retail
$494.2K
$432.4K – $576.5K
NOI $34,592 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$471.2K
$412.3K – $549.7K
NOI $32,984 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$714.9K
$625.6K – $834.1K
NOI $50,045 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,877
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?
Live-work space - Mixed-use live-work building with first-floor retail and second-floor residential space.
Where is this live-work space located?
The property is located at 32 West St Annapolis, MD.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Mixed‑use zoning with first‑floor retail and second‑floor residential; Work and live in the same building; 2,444 SF live‑work mixed‑use building
