Sign Up Successful!
You now have access to more from Realmo!
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

    172 Grn St Annapolis, MD 21401-2502

    • Retail residential properties
    • 3,516 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Aug 11, 2023
    $1,450,000
    Value Estimations
    $1,485,000
    Show details
    Cap Rate Potential
    2.3%
    Retail residential properties
    Location Intelligence
    Property ID
    US40-0479662
    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

    • Blue Heron Bed & Breakfast / Bed & Breakfast
    • The Oaks Inn Annapolis / Bed & Breakfast

    Property Details for 172 Grn St

    Year built
    1860
    Construction
    FRAME
    Lot size
    0.17 lot acres
    Property size
    3,516 SF
    Zone code
    C1
    Property type
    Retail residential properties
    APN
    06-000-00607600
    APU
    600000607600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,595,000
      ML approach
      $1,550,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,157,000
      Market price range: $847k - $1.73M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,220,000
      Current use
      OFFICE BUILDING
      $1,965,000
      Change: +61% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,495,000
      Change: +23% Conversion: Difficult
      RETAIL STORES
      $1,455,000
      Change: +20% Conversion: Easy
      MEDICAL BUILDING
      $1,285,000
      Change: +6% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,170,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.4883
    Latitude
    38.9765
    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
    $15,003
    $664,600
    $471,400
    $1,136,000
    -
    $664,600
    $471,400
    $1,136,000

    Comparable in this City

    • Value Estimation by Request
      1,976 SF

      3 Cv Of Cork Ln

      STORES & APARTMENTS • 1,976 SF
      3 Cv Of Cork Ln, Annapolis, MD 21401-1007
      View Details
    • Value Estimation
      $1,420,000
      4,552 SF

      124 Charles St

      STORES & APARTMENTS • 4,552 SF
      124 Charles St, Annapolis, MD 21401-2621
      View Details
    • Value Estimation
      $435,000
      1,952 SF

      8 Martin St

      STORES & APARTMENTS • 1,952 SF
      8 Martin St, Annapolis, MD 21401-1716
      View Details
    • Value Estimation
      $310,000
      1,840 SF

      1 College Ave

      STORES & APARTMENTS • 1,840 SF
      1 College Ave, Annapolis, MD 21401-1603
      View Details
    • Value Estimation by Request
      2,692 SF

      1823 Generals Hwy

      STORES & APARTMENTS • 2,692 SF
      1823 Generals Hwy, Annapolis, MD 21401-6543
      View Details
    • Value Estimation
      $865,000
      2,160 SF

      85 Ee St

      STORES & APARTMENTS • 2,160 SF
      85 Ee St, Annapolis, MD 21401-1729
      View Details

    Similar Nearby for Sale

    • $599,900
      2,300 SF

      Annapolis Mixed-Use Development Opportunity

      2300 sqft split-level property in historic Annapolis.
      212 Duke Of Gloucester St, Annapolis, MD 21401
      View Details
    • $750,000

      Mixed-Use Building in Parole Town

      Two-story mixed-use building with retail and residential potential.
      1989 West St, 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
    • $2,104,050

      Downtown Annapolis Mixed-Use Building

      Mixed-use building with retail and residential in downtown Annapolis.
      53 Maryland Ave, Annapolis, MD 21401
      View Details
    • $480,000

      Versatile Property with Workshop and Loft

      Mixed-use property featuring workshop, loft, and flexible zoning.
      39 Oak Ct, Annapolis, MD 21401
      View Details
    • $2,250,000
      5,599 SF

      Mixed-Use Building in Riva Road

      90% leased mixed-use building in the Riva Road corridor.
      2901 Riva Trace Pkwy, Annapolis, MD 21401
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      35,404 SF

      Annapolis Executive Office Suites

      Prime Annapolis location, flexible office space.
      2525 Riva Rd, 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, 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
    • $36 SF/Yr
      3,970 SF

      Furnished Class A Office Space

      9,529 SF furnished office space available for lease.
      180 Admiral Cochrane Dr, Annapolis, MD 21401
      View Details
    • Contact for pricing
      3,320 SF

      Annapolis Retail Space For Lease

      Retail space available in Annapolis, MD with strong performing anchors.
      2635 Housley Rd, Annapolis, MD 21401
      View Details
    • Contact for pricing
      4,013 SF

      Annapolis Office Space Available

      Office space available for rent in Annapolis, Maryland.
      175 Admiral Cochrane Dr, 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.
    172 Grn St
    Annapolis, MD 21401-2502
    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.
    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.