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

    Frst Dr Annapolis, MD 21401

    • Community centers
    • 150,240 SF
    • 16.02 lot acres
    OFF-MARKET
    Value Estimations
    $15,645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1805052
    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

    • Community centers

    Property Details for Frst Dr

    Construction
    BRICK
    Lot size
    16.02 lot acres
    Property size
    150,240 SF
    Zone code
    TC
    Property type
    Community centers
    APN
    02-000-09504120
    APU
    200009504120

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,389,000
      Market price range: $19.4M - $54.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Annapolis
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5419
    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
    $196,417
    $17,074,500
    $912,400
    $17,986,900
    -
    $17,074,500
    $912,400
    $17,986,900

    Comparable in this City

    • Value Estimation
      $41,675,000
      124,922 SF

      148 Jennifer Rd

      MINI-MALL • 124,922 SF
      148 Jennifer Rd, Annapolis, MD 21401-3042
      View Details
    • Value Estimation
      $42,575,000
      313,440 SF

      Riva Rd

      MINI-MALL • 313,440 SF
      Riva Rd, Annapolis, MD 21401
      View Details
    • Value Estimation
      $1,660,000
      8,838 SF

      2068 Somerville Rd

      MINI-MALL • 8,838 SF
      2068 Somerville Rd, Annapolis, MD 21401-3711
      View Details
    • Value Estimation by Request
      22,494 SF

      2371 Solomons Island Rd

      Lifestyle centers • 22,494 SF
      2371 Solomons Island Rd, Annapolis, MD 21401
      View Details
    • Value Estimation
      $2,440,000
      13,840 SF

      890 Bestgate Rd

      MINI-MALL • 13,840 SF
      890 Bestgate Rd, Annapolis, MD 21401-3265
      View Details
    • Value Estimation
      $13,310,000
      72,472 SF

      Jennifer Rd

      MINI-MALL • 72,472 SF
      Jennifer Rd, Annapolis, MD 21401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,878 SF

      Downtown Annapolis Retail Building

      Prime Main Street location, 6,878 SF, owner-user potential.
      209 Main 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
    • $1,872,800
      5,162 SF

      Downtown Annapolis Retail Opportunity

      Prime location retail property in downtown Annapolis for sale.
      80-82 Maryland Ave, 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
    • Contact for pricing

      Downtown Annapolis Retail and Office

      Retail and office space in the heart of Annapolis.
      230 Main St, Annapolis, MD 21401
      View Details
    • $365,000

      Retail Condo in Annapolis Mall Area

      Retail condo with high visibility near Annapolis Mall and Route 50.
      108 Old Solomons Island Rd, Annapolis, MD 21401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      22,494 SF

      Annapolis Retail Space For Lease

      Prime Annapolis retail space, 22,494 sq ft.
      2371 Solomons Island Rd, Annapolis, MD 21401
      View Details
    • Contact for pricing
      3,320 SF

      Annapolis Retail Space For Lease

      Retail space available in Annapolis, Maryland, near Westfield Annapolis.
      2601-2635 Housley Rd, Annapolis, MD 21401
      View Details
    • Contact for pricing
      22,494 SF

      Annapolis Retail Space For Lease

      Prime retail location in the heart of Annapolis, Maryland.
      260 Solomons Island Rd, Annapolis, MD 21401
      View Details
    • Contact for pricing
      8,000 SF

      Mixed-Use Development for Lease

      Retail, office, and luxury residential spaces available for lease.
      305 Sail Pl, Annapolis, MD 21401
      View Details
    • Contact for pricing
      1,000 SF

      Annapolis Retail Space For Rent

      Premier community center in the heart of Annapolis retail market.
      Riva Rd, Annapolis, MD 21401
      View Details
    • Contact for pricing
      1,883 SF

      Mixed-Use Development in Annapolis, MD

      Retail, office, and luxury residential units available for rent.
      1905 Towne Centre Blvd, 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.
    Frst Dr
    Annapolis, MD 21401
    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.