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    1503 Forest Dr Annapolis, MD 21401

    Sponsored
    For Sale
    $1,650,000

    Prime 1.07-acre lot, permit-ready.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 1.07-acre commercial development site in Annapolis, Maryland, presents a unique investment opportunity. Located at 1503 Forest Drive, in Anne Arundel County (zip code 21401), this property boasts a B2 zoning designation and is fully approved for construction. Approved plans are available for a three-story office/retail building totaling up to 22,000 square feet, with potential for expansion up to 22,600 square feet. The design includes approximately 3,780 square feet of ground-floor retail space, ideal for a variety of uses. The site offers excellent visibility and accessibility, with frontage on both Forest Drive and Spa Road, and convenient access to Route 50 and I-97. The property also includes plans for approximately 70 surface parking spaces. Its location near Annapolis Middle School and minutes from Historic Downtown Annapolis makes it highly desirable. This permit-ready site is perfect for office, daycare, food service, retail, or medical uses. The asking price is $1,650,000. Don't miss this chance to develop a thriving commercial property in a prime Annapolis location.

    Property Features for 1503 Forest Dr

    General Information

    Property type
    Land
    Lot Size
    46,609 SF

    HighLights

    • Ideal for office, daycare, restaurant, retail, or medical uses.
    • High visibility with excellent frontage on Forest Drive and Spa Road.
    • Convenient access via traffic signals at the Forest Drive and Spa Road intersection.
    • Easy access to Route 50 and I‑97.
    • Short drive to Historic Downtown Annapolis.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.4919706
    Latitude
    38.979434

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    FAQs

    What type of property is this?
    Land - Prime 1.07-acre lot, permit-ready.
    Where is this land located?
    The property is located at 1503 Forest Dr Annapolis, MD.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Ideal for office, daycare, restaurant, retail, or medical uses.; High visibility with excellent frontage on Forest Drive and Spa Road.; Convenient access via traffic signals at the Forest Drive and Spa Road intersection.
    (410) 266-8800
    Request Owner's contact information
    1503 Forest Dr Annapolis, MD 21401
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    Annapolis, MD 21401
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    Realmo Value Estimation

    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.

    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.

    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
    1503 Forest Dr Annapolis, MD 21401
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