Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    151 West St Annapolis, MD 21401

    For Lease
    Contact for pricing

    Prime Annapolis Office Space Available

    Lot size:
    36,014 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    151 West Street in Annapolis, MD, offers a unique investment opportunity. This three-story, Class A office building, totaling 36,014 square feet, boasts a desirable Midtown location within the West Street Revitalization District. Built in 1998, the property features 80 on-site parking spaces and proximity to a 120-space public garage, along with numerous nearby amenities including restaurants, coffee shops, residential condos, and hotels. Currently 89% leased, with a weighted average lease term of 5.41 years, the building benefits from a strong tenant base, including a long-term State of Maryland occupant. The 4,079 square feet of available space is divisible into units ranging from 3,200 to 4,079 square feet, offering flexibility for various business needs. The 0.84-acre lot is zoned MX, providing potential for future development. This stable asset presents a below-replacement-cost acquisition opportunity in a thriving submarket, with attractive assumable financing in place. The building's efficient floor plates and convenient location contribute to its historically low vacancy rates (well below 10% over the past 10 years). Annapolis serves as a submarket to both the Washington, D.C., and Baltimore MSAs, within a Class A office market of less than 2 million square feet. This property is part of a smaller, highly desirable Suburban-Urban Core Class A Office Market consisting of only 8 buildings totaling 690,000 square feet.

    Property Features for 151 West St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    36,014 SF
    Class
    A

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    Turn Key Office Space For Lease
    Size
    4,079 SF

    HighLights

    • Class A, 36,014 SF office building in Annapolis, MD's West Street Revitalization District.
    • 80 on‑site parking spaces plus proximity to a 120‑space public garage.
    • 89% leased with a 5.41‑year weighted average lease term; 4,079 SF of divisible space available.
    • 0.84‑acre lot zoned MX, offering future development potential.
    • Below‑replacement‑cost acquisition opportunity with attractive assumable financing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Frederick R. Franke, ... Attorney CareFirst BlueCross BlueShield Health Insurance Agency Maryland State Board ... State Government Office parkingmgt.com Parking Lot TRACE Non-Profit Organization

    Suggested Use

    Restaurant Law Firm Spa & Massage Realty agency Hair Salon Dental Office Nail Salon Building Supply Clothing Store 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
    -76.498856
    Latitude
    38.9773167

    Nearby Similar for Lease

    • $3,500 /Mo
      50,965 SF

      Office Space Near Annapolis Mall

      Office space for lease near Annapolis Mall with great potential.
      2563 Forest Dr, Annapolis, MD 21401
      View Details
    • $1,300 /Mo
      87,120 SF

      West Annapolis Professional Office Space

      Standout office space in a well-appointed professional center.
      703 Giddings Ave Unit, Annapolis, MD 21401
      View Details
    • $1,250 /Mo

      Annapolis Office Space For Lease

      Office space for lease in Annapolis, MD.
      68 State Cir, Annapolis, MD 21401
      View Details
    • $1,850 /Mo

      Annapolis Office Condo For Lease

      First floor office condo with immediate occupancy in Annapolis, MD.
      1831 #E Forest Dr, Annapolis, MD 21401
      View Details
    • $32 SF/Yr
      2,500 SF

      Annapolis Retail/Office Space Available

      Freestanding 2,500 SF space ideal for retail or office uses.
      921 Bay Ridge Ave, Annapolis, MD 21403
      View Details
    • $2,450 /Mo

      Annapolis Condo with Private Yard

      First-level condo with private yard and resort-style amenities.
      2015 Gov Thomas Bladen Way Way, Annapolis, MD 21401
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Annapolis Office Space Available
    Where is this office property / space located?
    The property is located at 151 West St Annapolis, MD.
    What are key features of this property?
    This property features: Class A, 36,014 SF office building in Annapolis, MD's West Street Revitalization District.; 80 on-site parking spaces plus proximity to a 120-space public garage.; 89% leased with a 5.41-year weighted average lease term; 4,079 SF of divisible space available.
    Request Owner's contact information
    151 West St Annapolis, MD 21401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 West St
    Annapolis, MD 21401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    151 West St Annapolis, MD 21401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.