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Property profile & analytics
FOR SALE
Retail space
2563 Forest Dr Annapolis, MD 21401
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US40-1351848
For Sale
1 / 36
$899,999
2563 Forest Dr, Annapolis, MD 21401
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Property summary
AI-generated overview
This exceptional office space, located at 2563 Forest Drive in Annapolis, Maryland, presents a truly remarkable opportunity for businesses seeking a prime location. Situated on a generous 1.17-acre lot, this top-floor office boasts ample square footage, providing significant flexibility for various business needs. The property's strategic location offers unparalleled convenience, with close proximity to the Annapolis Mall and other key amenities, ensuring easy access for employees and clients alike. The expansive layout allows for a multitude of configurations, making it ideal for companies of all sizes. This is a rare chance to secure a substantial office space in a highly desirable Annapolis location. The building's prime position offers excellent visibility and accessibility, contributing to a strong business presence. The substantial size of the office allows for significant expansion potential, catering to future growth and evolving business requirements. This property is ready for immediate occupancy and presents an exceptional investment opportunity for businesses seeking a prominent and convenient location in the vibrant Annapolis market. The large lot size offers ample parking and potential for future development. Don't miss this chance to establish your business in a thriving area with excellent connectivity and a strong local economy. This is a unique opportunity to acquire a significant office space in a highly sought-after location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1969
Construction
BRICK
Total area
16,621 SF
Lot
1.17 ac (50,965 SF)
Zoning code
B2
APN
06-000-08576615
UPID
US40-1351848
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sylvia Hopkins - GEICO Insurance Agent Insurance Agency
-
A-1 Capitol Insurance LLC Insurance Agency
-
Mid-Atlantic Spinal Rehab & Chiropractic Annapolis Alternative Medicine Practice
-
Jonathan Nou, DC Alternative Medicine Practice
-
Dr. Marc Gulitz Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.26M
Owner & transaction history
Golub Annapolis LLC · 4 yrs held
Golub Annapolis LLC
since 2021
Last sale
$7.4M
7 recorded transactions
Zoning & alternative use
B2 · Annapolis, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$9.3M
+34.9%
Restaurant
$8.1M
+17.2%
Industrial (general)
$7.6M
+9.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Annapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Annapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$6,890,000
Current use
OFFICE BUILDING
$9,290,000
Change: +35% · Conversion: Easy
RESTAURANT
$8,075,000
Change: +17% · Conversion: Easy
INDUSTRIAL (GENERAL)
$7,570,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,070,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$6,085,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,760,000
Change: -16% · Conversion: Easy
WAREHOUSE, STORAGE
$5,545,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$7.26M
Range $6.53M – $7.98M · ±10% · vs last sale $7.40M (Oct 12 2021)
Last sale anchor
$7.40M
Oct 12 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$436 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$52,987
Tax year 2023
Assessed value
$3,689,900
Assessed 2023
Previous assessed
$3,689,900
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$1,638,000
Assessed improvement
$2,051,900
Land market value
$1,638,000
Improvement market value
$2,051,900
Total market value
$3,689,900
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1969
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
2
Total area
16,621 SF
Lot
1.17 ac (50,965 SF)
Zoning code
B2
APN
06-000-08576615
UPID
US40-1351848
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
B2 · Annapolis, MD
Zoning B2 · permitted uses
B2 · Annapolis, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Annapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$6.9M
OFFICE BUILDING
Est. value
$9.3M
RESTAURANT
Est. value
$8.1M
INDUSTRIAL (GENERAL)
Est. value
$7.6M
AUTO REPAIR, GARAGE
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$5.8M
WAREHOUSE, STORAGE
Est. value
$5.5M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
1.17 ac
Current owner
From public records · entity-resolved
Golub Annapolis LLC
Entity
Mailing address
7910 WOODMONT AVE STE #1405, BETHESDA, MD 20814-3082
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2022
—
Golub Annapolis LLC
—
Deed
related
$2,050,000 · Community Bank Of The Chesapeake
Oct 12, 2021
$7,400,000
Golub Annapolis LLC
Jdc Forest Drive LLC
Special Warranty Deed
—
Nov 21, 2018
—
Apsara Properties LLC
—
Deed
related
$688,500 · Essex Bk
Oct 28, 2016
—
Apsara Properties LLC
—
Deed
related
$707,600 · Capital One NA
Aug 15, 2016
—
Jcd Forest Drive Fee LLC
—
Deed
related
$4,000,000 · Cardinal Bank
Jul 7, 2016
—
Jdc Forest Drive Fee LLC
—
Deed
related
$4,000,000 · Cardinal Bk
May 23, 2012
$465,000
Jdc Forest Drive Fee LLC
Wagner,david M
Grant Deed
—
Oct 6, 2000
—
Pathmark Stores INC
—
Deed Of Trust
related
$425,000,000 · Chase Manhattan Bank Trustee
Nov 18, 1996
—
David M Wagner
Wagner,clemens M
Quit Claim Deed
related
—
—
—
Apsara Properties LLC
—
Deed Of Trust
related
$688,500 · Essex Bk
—
—
Jdc Forest Drive LLC
—
Deed Of Trust
related
$3,800,000 · Ixis R/e Capital INC
—
—
Jdc Forest Drive Fee LLC
—
Deed Of Trust
related
$4,000,000 · Cardinal Bk
—
—
Apsara Properties LLC
—
Deed Of Trust
related
$707,600 · Capital One NA
—
—
Pichon Properties LLC
—
Deed Of Trust
related
$356,000 · Sandy Spring Bank
—
—
Pichon Properties LLC
—
Deed Of Trust
related
$35,000 · Sandy Spring Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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