Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11 Lee St Annapolis, MD 21401-3926

    • Warehouses
    • 26,140 SF
    • 2.23 lot acres
    OFF-MARKET
    Value Estimations
    $2,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1275877
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 11 Lee St

    Year built
    1962
    Construction
    BRICK
    Lot size
    2.23 lot acres
    Property size
    26,140 SF
    Zone code
    BCE
    Property type
    Warehouses
    APN
    06-000-00404205
    APU
    600000404205

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,870,000
      6.5%
      $2,650,000
      7%
      $2,460,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5272
    Latitude
    38.9792
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,682
    $2,394,000
    $299,700
    $2,693,700
    -
    $2,394,000
    $299,700
    $2,693,700

    Comparable in this City

    • Value Estimation
      $2,705,000
      32,080 SF

      2400 A And Eagle Blvd

      WAREHOUSE, STORAGE • 32,080 SF
      2400 A And Eagle Blvd, Annapolis, MD 21401-7053
      View Details
    • Value Estimation
      $8,170,000
      57,717 SF

      1990 Moreland Pkwy

      MINI-WAREHOUSE, STORAGE • 57,717 SF
      1990 Moreland Pkwy, Annapolis, MD 21401-3128
      View Details
    • Value Estimation
      $760,000
      9,348 SF

      1825 George Ave

      WAREHOUSE, STORAGE • 9,348 SF
      1825 George Ave, Annapolis, MD 21401-4101
      View Details
    • Value Estimation
      $15,320,000
      172,320 SF

      1833 George Ave

      MINI-WAREHOUSE, STORAGE • 172,320 SF
      1833 George Ave, Annapolis, MD 21401-4102
      View Details
    • Value Estimation by Request
      3,400 SF

      229 Hanover St

      WAREHOUSE, STORAGE • 3,400 SF
      229 Hanover St, Annapolis, MD 21401-1693
      View Details
    • Value Estimation
      $7,275,000
      53,220 SF

      2023 Renard Ct

      MINI-WAREHOUSE, STORAGE • 53,220 SF
      2023 Renard Ct, Annapolis, MD 21401-6713
      View Details

    Similar Nearby for Sale

    • $246,600

      Convertible Office Condo For Sale

      Office condo in Annapolis, MD, with warehouse conversion potential.
      2014 Renard Ct, Annapolis, MD 21401
      View Details
    • $429,000
      1,508 SF

      Annapolis Industrial Space - Renovated

      Prime Annapolis industrial space, renovated throughout.
      2112 Renard Ct Unit, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Annapolis Flex Space Available

      Flex space for lease in Annapolis, Maryland.
      300 Chinquapin Round Rd, Annapolis, MD 21401
      View Details
    • Contact for pricing
      2,293 SF

      Annapolis Office Space Opportunity

      Office space for sale in Annapolis, corner lot location.
      1831 Forest Dr, Annapolis, MD 21401
      View Details
    • $1,200,000

      Mixed-Use Building in Parole Town

      1,794 SF mixed-use building in Parole Town Center.
      110 Defense Hwy, Annapolis, MD 21401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,969 SF

      Warehouse Space with Loading Docks

      7,969 SF warehouse space featuring five loading docks.
      1981 Moreland Pkwy, Annapolis, MD 21401
      View Details
    • Contact for pricing
      11,700 SF

      Annapolis Industrial Warehouse for Lease

      Industrial warehouse with 20' ceiling height in Parole Town Center.
      2305 Katcef Ave, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Annapolis Mixed-Use Commercial Space

      Mixed-use community with office, flex, R&D, and retail spaces.
      S Truman Pkwy, Annapolis, MD 21401
      View Details
    • Contact for pricing
      12,716 SF

      Annapolis Office/Flex Space Available

      Largest, most accessible office/flex space in Annapolis, Maryland.
      2001-2003 Commerce Park Dr, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Towne Center

      Discover many ways to work your way in Towne Center
      1910 Towne Centre Blvd, Annapolis, MD 21401
      View Details
    • Sponsored
      Contact for pricing

      Annapolis

      Discover many ways to work your way in Annapolis
      1997 Annapolis Exchange Pkwy, Annapolis, MD 21401
      View Details
    Request Owner's contact information
    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.
    11 Lee St
    Annapolis, MD 21401-3926
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!