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275 West St, Annapolis, MD 257 West St, Annapolis, MD
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 prospective purchaser can look to make an offer to purchase 257 West, 275 West, and the Parking Garage together, or a prospective purchaser can make an offer to purchase 275 West and the Parking Garage separately from 257 West / make an offer to purchase 257 West independently. A separate listing website is available for 257 West independently. This offering will focus on the entire package of all three assets (two buildings and the 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.

 

 

 

 

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%
  • Two Buildings (257 West & 275 West) + 288 Space Parking Garage Offered together in a package sale opportunity
  • Prospective purchasers can also look to purchase 257 West independently or purchase 275 West and the parking garage without 257 West.
  • Mixed Use (MX) Zoning - City of Annapolis
  • Conversion Potential - Office to Resi or Hospitality - Immediate and Long Term Possibilities

 

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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

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