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    Downtown Annapolis Boutique Storefront Opportunity Title is generated by Realmo AI

    45 RANDALL St, Annapolis, MD 21401

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    For Sale
    $500,000

    Charming storefront in the heart of downtown Annapolis.

    Type:Commercial
    Added:
    May 17, 2026
    Days on Market:
    13
    Last Refresh:
    May 17 at 10:21 pm

    Property Features for 45 RANDALL St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Catherine Marucci
    Catherine Marucci

    Listing agent Catherine Marucci License #17673

    Listing office Coldwell Banker Residential Brokerage

    Listing date May 17, 2026

    Source Elliman

    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 Coldwell Banker Residential Brokerage

    HighLights

    • Prime downtown Annapolis location between the U.S. Naval Academy and the waterfront.
    • High‑visibility commercial property with constant pedestrian traffic.
    • Ideal for boutique retail, coffee bar, specialty shop, or studio.
    • Located in the heart of Annapolis' thriving historic district.
    • Classic downtown character and prominent street presence.
    • Seller financing may be available.

    Overview

    Located in downtown Annapolis, 45 Randall Street is a boutique storefront property. Situated between the U.S. Naval Academy and the Annapolis waterfront, the property benefits from pedestrian traffic consisting of tourists, locals, midshipmen, and boaters. Its street presence and downtown character may be suitable for a boutique retail concept, coffee bar, specialty shop, studio, or investment hold. The property is located in the center of Annapolis’ thriving historic district, surrounded by established national and local retailers, restaurants, and year-round activity. The location has a walk score of 90, indicating it is very walkable, a bike score of 56, indicating it is bikeable, and a transit score of 43, indicating some transit options are available.
    Location Intelligence

    Current Use by Public Records

    My Logo On It, ... Marketing & Advertising

    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.

    Similar Places Nearby

    • Art de la Fleur Florist & Plants — 60 West St #162, Annapolis, MD 21401, United States
    • floret + vine — 222 Severn Ave #4a, Annapolis, MD 21403

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.4864869
    Latitude
    38.9782355

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    FAQs

    What type of property is this?
    Storefront property - Charming storefront in the heart of downtown Annapolis.
    Where is this storefront property located?
    The property is located at 45 RANDALL St Annapolis, MD.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime downtown Annapolis location between the U.S. Naval Academy and the waterfront.; High‑visibility commercial property with constant pedestrian traffic.; Ideal for boutique retail, coffee bar, specialty shop, or studio.
    (443) 883-1609
    We can help!
    Listing Contact
    Catherine Marucci
    Catherine Marucci
    Real Estate License ID: 17673
    Learn More
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    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.

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