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    Property profile & analytics

    6 Fleet St Annapolis, MD 21401

    • Office buildings
    • 1,164 SF
    • 0.04 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Last Sale
    Apr 08, 2022
    $920,000
    Value Estimations
    $910,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2282613
    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

    • Party Dress / Women'S Clothing Store
    • Vivo / Gift Shop

    Property Details for 6 Fleet St

    Construction
    BRICK
    Lot size
    0.04 lot acres
    Property size
    1,164 SF
    Zone code
    C2
    Property type
    Office buildings
    APN
    06-000-04692602
    APU
    600004692602

    Description

    This exceptional executive office space, located at 6-8 Fleet Street in Annapolis, Maryland, presents a unique leasing opportunity. Situated on the first floor of a building totaling 2,719 square feet, this single-tenancy property offers a highly desirable location within Anne Arundel County. The property is classified as both retail and office space, making it suitable for a variety of businesses. Its prime Annapolis address provides excellent visibility and accessibility, catering to businesses seeking a prominent presence in the vibrant city center. The precise configuration and layout of the interior space are available upon request, allowing for potential customization to meet specific business needs. This property is ideal for businesses seeking a sophisticated and convenient location in a thriving Maryland market. The zip code is 21401. Further details regarding lease terms and conditions are available upon inquiry. This is a single-tenancy space, offering exclusive use of the specified area. The property's classification as both retail and office space provides flexibility for a range of potential uses. Interested parties are encouraged to contact the listing agent for further information and to schedule a viewing. The building is located in Annapolis, a city known for its rich history and thriving business community. This presents a rare opportunity to secure a well-situated office space in a highly sought-after location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $915,000
      ML approach
      $945,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $956,000
      Market price range: $323k - $956k
      AI Estimate
      $583,000
      Market price range: $166k - $583k

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.4877
    Latitude
    38.9783
    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
    $8,324
    $421,200
    $158,500
    $579,700
    -
    $421,200
    $158,500
    $579,700

    Comparable in this City

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      10,396 SF

      706 Giddings Ave

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      View Details
    • Value Estimation
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      54,762 SF

      200 Harry S Truman Pkwy

      OFFICE BUILDING • 54,762 SF
      200 Harry S Truman Pkwy, Annapolis, MD 21401-7601
      View Details
    • Value Estimation
      $1,660,000
      68,688 SF

      181 Harry S Truman Pkwy

      OFFICE BUILDING • 68,688 SF
      181 Harry S Truman Pkwy, Annapolis, MD 21401-7574
      View Details
    • Value Estimation
      $520,000
      3,200 SF

      44 Hudson St

      OFFICE BUILDING • 3,200 SF
      44 Hudson St, Annapolis, MD 21401-3111
      View Details
    • Value Estimation by Request
      129,464 SF

      888 Bestgate Rd

      OFFICE BUILDING • 129,464 SF
      888 Bestgate Rd, Annapolis, MD 21401-3091
      View Details
    • Value Estimation
      $455,000
      1,184 SF

      18 Market Spc Spcct

      OFFICE BUILDING • 1,184 SF
      18 Market Spc Spcct, Annapolis, MD 21401-1816
      View Details

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      View Details
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    6 Fleet St
    Annapolis, MD 21401
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    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
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