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151 West Street

Annapolis 151, LLC Acquires Class A Office Building In Annapolis, MD For $9.5M
SOLDOffice

Annapolis 151, LLC Acquires Class A Office Building In Annapolis, MD For $9.5M

151 West Street

$9,500,000

Building Size

Asset Type

Office

Closing

Aug 22, 2023

AI

A Class A office building located at 151 West Street in Annapolis, MD 21401 has been successfully sold by Hyatt Commercial to Annapolis 151, LLC, a regional real estate investor. The property achieved a sale price of $9.5 million at 90% occupancy.

Summary of transaction details

The sale of the Class A office building at 151 West Street, Annapolis, MD was facilitated by a team of brokers from Hyatt Commercial, including Cecil Cummins, Eric Pinkett, John Gallagher, Justin Mullen, and Shane Denman. The property, boasting 90% occupancy, was sold to Annapolis 151, LLC for a sale price of $9.5 million.

Players

Cecil Cummins

Hyatt Commercial

Broker

$51.4M

vol

8 deals

Broker

Annapolis Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93