Hyatt Commercial Announces Sale of 188 Main Street for $3.3 Million

Hyatt Commercial last week announced the sale of 188 Main Street / 9 State Circle in historic downtown Annapolis, Maryland, for $3.3 million. This 11,468 SF, 96%-leased mixed-use investment was acquired by a private investor. The transaction was led by Cecil Cummins, John Gallagher, Eric Pinkett, and Justin Mullen of the Hyatt Commercial sales team, while Mason Popham of Thomas Park Commercial represented the buyer.

Located on Main Street, near the Maryland State House, 188 Main Street is a rare and highly sought-after investment. The building features diverse retail storefronts, restaurants, and professional office suites, with access from both Main Street and State Circle. With nearly 60 feet of direct frontage, this property receives visibility and foot traffic from the 4 million annual visitors to downtown Annapolis.

Jerome Parks originally developed this building in 1989 and has meticulously owned and managed it for nearly four decades. Designed for retail and professional tenants near the State House, the property consistently maintains high occupancy.

With the largest tenant occupying only 1,950 SF, it offers a low-risk leasing profile suited to the downtown submarket. A standout feature is its expansive glass atrium, accessible from Main Street, which offers future owners the opportunity to create a unique retail destination. Cecil Cummins, Executive Vice President at Hyatt Commercial, noted, "Properties like 188 Main don’t trade often—it’s a cornerstone of downtown Annapolis with a proven track record. It offers investors both stability and upside in one of the most iconic commercial blocks in the state."