Annapolis, MD 21401
- Retail properties
- 3,888 SF
Current Use by Public Records
- Retail properties
Property Details
- Property size
- 3,888 SF
- Property type
- Retail properties
Description
This exceptional 3,888 square foot retail property at 14 Market Space in Annapolis, Maryland, presents a compelling investment opportunity. Located in the heart of Historic Downtown Annapolis, steps from City Dock and the Annapolis Waterfront, this NNN-leased property boasts a prime location within a high-traffic area. Currently 100% occupied by a long-term tenant, Iron Rooster, a well-established restaurant, the property offers immediate cash flow. The tenant has a strong track record, having operated in this location for ten years and recently expanded into three adjacent buildings. This expansion demonstrates their commitment to the location and the surrounding area. A lease renewal option has been exercised, securing a 10-year remaining lease term on this property. Importantly, an access agreement is in place between building owners, facilitating seamless operations across the four buildings. The leases across all four buildings are synchronized, providing further stability and predictability for investors. With a 6.47% cap rate, this property offers a strong return on investment in a highly desirable location. This is a rare opportunity to acquire a well-established, high-performing retail property in one of Annapolis's most sought-after areas.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Annapolis
- County
- Anne Arundel
- State
- Maryland
- Longitude
- -76.4873
- Latitude
- 38.9783
