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

    700 Melvin Ave Annapolis, MD 21401-1514

    • Office buildings
    • 9,023 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Feb 27, 2020
    $1,425,000
    Value Estimations
    $1,965,000
    Show details
    Cap Rate Potential
    3.8%
    Office buildings
    Location Intelligence
    Property ID
    US40-1102430
    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

    • Timothy Mewmaw / Counselor / Practitioner Service Location
    • Camp-Alerte Nicole L MD / Anesthesiologist
    • Dr. Mark P. Hamill, MD / Anesthesiologist
    • Dr. David H. Corddry, MD / Anesthesiologist
    • Ashlee Sapenza / Counselor / Practitioner Service Location

    Property Details for 700 Melvin Ave

    Year built
    1972
    Construction
    BRICK
    Lot size
    0.34 lot acres
    Property size
    9,023 SF
    Zone code
    P
    Property type
    Office buildings
    APN
    06-000-04396005
    APU
    600004396005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,775,000
      ML approach
      $1,950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,522,000
      Market price range: $2.50M - $7.41M
      AI Estimate
      $1,373,000
      Market price range: $1.29M - $4.52M

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5043
    Latitude
    38.9898
    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
    $15,483
    $733,700
    $344,500
    $1,078,200
    -
    $733,700
    $344,500
    $1,078,200

    Comparable in this City

    • Value Estimation
      $430,000
      8,783 SF

      28 Ww St

      OFFICE BUILDING • 8,783 SF
      28 Ww St, Annapolis, MD 21401
      View Details
    • Value Estimation
      $985,000
      14,309 SF

      138 Defense Hwy

      OFFICE BUILDING • 14,309 SF
      138 Defense Hwy, Annapolis, MD 21401-7023
      View Details
    • Value Estimation
      $580,000
      10,747 SF

      2086 Generals Hwy

      OFFICE BUILDING • 10,747 SF
      2086 Generals Hwy, Annapolis, MD 21401-6700
      View Details
    • Value Estimation
      $980,000
      29,248 SF

      2448 Holly Ave

      OFFICE BUILDING • 29,248 SF
      2448 Holly Ave, Annapolis, MD 21401-3148
      View Details
    • Value Estimation by Request
      28,160 SF

      808 Bestgate Rd

      OFFICE BUILDING • 28,160 SF
      808 Bestgate Rd, Annapolis, MD 21401-3016
      View Details
    • Value Estimation
      $580,000
      720 SF

      1861 Crownsville Rd

      OFFICE BUILDING • 720 SF
      1861 Crownsville Rd, Annapolis, MD 21401-6448
      View Details

    Similar Nearby for Sale

    • $435,000
      725 SF

      Freestanding Office Building For Sale

      725 SF freestanding office building with high visibility.
      131 Defense Hwy, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Permit Ready Office/Retail/Medical Building

      Approved plans for up to 22,000 SF office/retail/medical building.
      1503 Forest Dr, Annapolis, MD 21401
      View Details
    • $5,850,000
      1.13 Acres

      Annapolis Office Building For Sale

      Fully leased office building in Annapolis, Maryland, with recent renovations.
      2024 West St, Annapolis, MD 21401
      View Details
    • $975,000

      Renovated Office Building Near Downtown

      Three-story renovated office building with ample parking near Annapolis.
      1205 West St, Annapolis, MD 21401
      View Details
    • Contact for pricing

      Modern Annapolis Office with Amenities

      Prime location with fitness center, cafe, and easy commutes.
      185 Admiral Cochrane Dr, Annapolis, MD 21401
      View Details
    • $6,275,000

      Class A Office Building Annapolis

      21,000 SF Class A office building in downtown Annapolis.
      115 West St, Annapolis, MD 21401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,797 SF

      Annapolis Office and Retail Space

      Office and retail building in Historic Annapolis with ample parking.
      1 Park Pl, Annapolis, MD 21401
      View Details
    • $26 SF/Yr

      Upgraded Office Building Near Annapolis

      Class A office space for rent near Annapolis Town Center.
      177-179 Admiral Cochrane Dr, Annapolis, MD 21401
      View Details
    • $30 SF/Yr
      2,719 SF

      Annapolis Executive Office Space

      Prime Annapolis Office, 2,719 SF
      6 Fleet St, Annapolis, MD 21401
      View Details
    • $30 SF/Yr
      17,950 SF

      Annapolis Retail Center Investment

      Prime Annapolis location, 17,950 SF, 2 spaces available
      626 Admiral Dr, Annapolis, MD 21401
      View Details
    • $34 SF/Yr
      125,000 SF

      Annapolis Executive Office Suites

      Class A Office Space, 44,280 SF Available
      1750 Forest Dr, Annapolis, MD 21401
      View Details
    • Contact for pricing
      302,560 SF

      Annapolis Executive Office Space

      Prime Annapolis office suites available.
      181-189 Harry S Truman 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.
    700 Melvin Ave
    Annapolis, MD 21401-1514
    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.