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    Property profile & analytics

    626 Admiral Dr Annapolis, MD 21401

    • Strip malls
    • 13,412 SF
    • 1.08 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0880298
    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

    • Sports Pro Physical Therapy and Aquatic Center / Medical Clinic
    • Johnson Legal Group, LLC / Law Firm
    • The Maids / Hardware & Home Improvement
    • Admiral Home Improvements LLC/GutterShutter of Maryland / Roofing Company / General Contractor
    • Smoke shack / (Bike/Boat/Book/etc) Store

    Property Details for 626 Admiral Dr

    Year built
    1995
    Construction
    BRICK
    Lot size
    1.08 lot acres
    Property size
    13,412 SF
    Zone code
    C4
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    02-388-90069842
    APU
    238890069842

    Description

    The Admiral's Court, a single-story, 17,950 square foot retail and office strip center in Annapolis, Maryland, presents a compelling investment opportunity. Located at 626 Admiral Drive, at the corner of Bestgate Road, this property boasts excellent visibility due to its prominent location and two large pylons. The center features twelve suites in total, with 1,900 square feet currently vacant. This space, previously a consignment store, offers 1,900 square feet of adaptable space, ideal for a variety of retail uses, such as a nautical or pet store. The property benefits from ample parking and easy access from Bestgate Road. Admiral's Court enjoys a strong anchor tenant, Wawa, and is strategically situated near major retail destinations. Its proximity to Westfield Annapolis Mall (featuring Nordstrom, Lord & Taylor, Macy's, Sears, and JCPenney) and Annapolis Towne Centre at Parole provides significant foot traffic and consumer draw. The property is located in Anne Arundel County, Maryland, with a zip code of 21401. This well-positioned retail center offers a unique chance to capitalize on a thriving Annapolis market. The available space presents a blank canvas for a savvy entrepreneur to establish a successful business in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,170,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5322
    Latitude
    38.9944
    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
    $37,803
    $0.00
    $0.00
    $3,461,800
    -
    $1,296,000
    $2,381,200
    $3,677,200

    Comparable in this City

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      40,328 SF

      Taylor Ave

      SHOPPING CENTER, STRIP CENTER • 40,328 SF
      Taylor Ave, Annapolis, MD 21401
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      $2,100,000
      19,104 SF

      1914 Frst Dr

      SHOPPING CENTER, STRIP CENTER • 19,104 SF
      1914 Frst Dr, Annapolis, MD 21401-4347
      View Details
    • Value Estimation
      $2,910,000
      20,592 SF

      1910 Frst Dr

      SHOPPING CENTER, STRIP CENTER • 20,592 SF
      1910 Frst Dr, Annapolis, MD 21401-4632
      View Details
    • Value Estimation
      $2,435,000
      16,494 SF

      801 Compass Way

      SHOPPING CENTER, STRIP CENTER • 16,494 SF
      801 Compass Way, Annapolis, MD 21401-7817
      View Details
    • Value Estimation
      $620,000
      4,500 SF

      24 Defense St

      SHOPPING CENTER, STRIP CENTER • 4,500 SF
      24 Defense St, Annapolis, MD 21401-4668
      View Details
    • Value Estimation
      $1,605,000
      11,446 SF

      103 Prince George St

      SHOPPING CENTER, STRIP CENTER • 11,446 SF
      103 Prince George St, Annapolis, MD 21401
      View Details

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      Retail Space Near Annapolis Mall

      Retail space available near Westfield Annapolis Mall, anchored by Wawa.
      626-628 Admiral Dr, Annapolis, MD 21401
      View Details
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    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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