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    801 Compass Way Annapolis, MD 21401

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    For Lease
    Contact for pricing

    Anne Arundel County Office Space, 8,000 SF Available

    Lot size:
    32,987 SF

    Property Features for 801 Compass Way

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    32,987 SF
    Class
    B
    Total Rate
    63225.08

    Building Details

    Year Built
    1990
    Stories
    2

    Spaces For Lease

    at 801 Compass Way, Annapolis, MD 21401 Contact us
    Unit Suite 203

    $23 /Mo

    Size
    1,800 SF
    Contact us
    Unit Suite 205

    $23 /Mo

    Size
    950 SF
    Contact us
    Unit Suite 207

    $23 /Mo

    Size
    1,050 SF
    Contact us
    Unit Suite 210

    $23 /Mo

    Size
    650 SF
    Contact us
    Unit Suite 212

    $23 /Mo

    Size
    350 SF
    Contact us
    Unit Suite 214

    $23 /Mo

    Size
    1,000 SF
    Contact us
    Unit Suite 218

    $23 /Mo

    Size
    1,100 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Judith Neighoff
    Judith Neighoff

    Listing Agent: Judith Neighoff

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Heritage Harbour Center offers 8,000 square feet of available office space in Anne Arundel County. This Class B, two-story building, constructed in 1990, totals 32,987 square feet and features seven suites, ideal for multiple tenants. The minimum divisible space is 950 square feet, with a maximum contiguous space of 5,500 square feet. Suites 203, 205, and 207 offer contiguous space ranging from approximately 950 to 3,850 square feet. The building boasts ample natural light thanks to expansive window lines. Convenient amenities include a single elevator, common hall bathrooms with granite countertops, and a parking ratio of 3 spaces per 1,000 square feet. The property is zoned OS and is situated in a thriving urban area with convenient access to walking trails. The building is professionally managed and maintained, offering competitive full-service rates and flexible lease terms. Upstairs offices are particularly well-suited for medical and professional businesses. This location provides a blend of accessibility and a desirable work environment. The property is perfect for businesses seeking flexible space options in a well-maintained building with convenient amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vedasoft Inc (Bike/Boat/Book/etc) Store Smartcomm Llc Medical Laboratory Donaldson & Emerson, Inc. Insurance Agency Bay Capital Mortgage ... Loan Service Collette Camper: Allstate ... Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Accounting Firm Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5888711
    Latitude
    38.9759064

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    FAQs

    What type of property is this?
    Medical Office Space - Anne Arundel County Office Space, 8,000 SF Available
    Where is this medical office space located?
    The property is located at 801 Compass Way Annapolis, MD.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: 32,987 SF multi-tenant office building in Anne Arundel County.; 950 SF minimum divisible space, up to 5,500 SF contiguous.; 8,000 SF of vacant space available.
    (410) 353-3545 Call to check price and availability
    Request Owner's contact information
    801 Compass Way Annapolis, MD 21401
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    Annapolis, MD 21401
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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.

    More about this property
    801 Compass Way Annapolis, MD 21401
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Judith Neighoff
    Judith Neighoff
    Real Estate License ID: 29028
    (410) 353-3545
    Learn more
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