deal image
257 & 275 West StAnnapolis, MD 21401
West Garrett Place
Asset ClassRetail, Office, Multifamily, Hotel & Hospitality
Investment Sale Offering
overview of deal

Overview

West Garrett Place is one of the most prominent properties in Annapolis. Situated across from the prestigious Park Place, the boutique property spans three parcels and two buildings alongside an attached five-story parking garage. A footprint of this scale, available for sale in the heart of Downtown Annapolis at the gateway to the Arts District, is truly a once-in-a-decade opportunity. Its corner presence, expansive plaza, and courtyard are a hidden gem, with significant frontage along West Street — one of the primary retail thoroughfares connecting downtown Annapolis to its suburbs and major access highways.

 

Within the City of Annapolis, developable parcels of meaningful size are few and far between, with zoning and municipal constraints limiting redevelopment. Unlike most Downtown Annapolis properties, West Garrett Place is not subject to Historic District Commission review or restrictive covenants. Approved under special exception, it could be immediately converted to other by-right uses without exterior changes or taken through site development for changes to the site design plan.

 

West Garrett Place presents a compelling acquisition for owner users looking

to purchase a building below replacement cost where they can occupy space or sophisticated investors seeking a high-profile, irreplaceable Downtown Annapolis footprint with stable in-place cash flow, clear lease-up upside, and meaningful short and long-term optionality.

 

 

 

 

Access the Data Room

Investment Highlights

# Tenants
10
Site Area
65.34 K Sq. Ft
Rentable SF
76,139
# Stories
5
Weighted Average Lease Term
5.09 Years
Occupancy
73%

 

deal gallery image
deal gallery image
deal gallery image
257 & 275 West StAnnapolis, MD 21401

Contact Us

Cecil CumminsExecutive Vice President

License #: 660258

(410) 260-6536ccummins@hyattcommercial.com
Eddie TrujilloSenior Vice President443-584-4490etrujillo@hyattcommercial.com
Eddie TrujilloSenior Vice President443-584-4490etrujillo@hyattcommercial.com
John KauffmanSales and Leasing Associate443-808-5982jkauffman@hyattcommercial.com

Inquire

Listing provided by LightBox Revere