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
- Property Type: Office
- Transaction Amount: $9,500,000
- Address: 151 West Street, Annapolis, MD 21401
- Market: Annapolis, MD
- Seller: Vincent Coviello - Moore & Associates
- Brokers: Cecil Cummins, Eric Pinkett, John Gallagher, Justin Mullen & Shane Denman - Hyatt Commercial
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
Annapolis Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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