Naval Academy Selling $4M Historic Property In Downtown Annapolis

ANNAPOLIS, MD — The United States Naval Academy listed one of its off-campus properties for $4 million this week. The listing is for three converted houses sitting on two contiguous plots of land in Downtown Annapolis. In total, the property spans .73 acres.

The buildings currently house the U.S. Naval Academy Alumni Association and Foundation. The group is planning to move into a new on-campus facility between August and November of 2022.

The main property, known as Ogle Hall or the Alumni House, was built in the 1700s. It hasn't been sold in 77 years.

The Naval Academy asked potential buyers to submit their bids by Feb. 23. The alumni association hopes to rent the space from the next owners until its new office is finished.

• Address: 247 King George St, Annapolis, Maryland
• Price: $4,000,000
• Square Feet: 7185
• Bedrooms: 0
• Bathrooms: 0 Baths
• Built: 1760
• Features: Just Listed! Once in a lifetime opportunity to acquire an irreplaceable, landmark property, in the heart of Historic Annapolis! For the first time in 77 years, we are pleased to present the opportunity to purchase 247 King George Street (currently used by the US Naval Academy as the Alumni House"), along with 49 College Avenue (two contiguous parcels of land totaling 0.73 acres +/-). This is truly a spectacular property with many possibilities for a new buyer, and represents a once-in-a-lifetime opportunity to acquire one of the most sought-after pieces of real estate (and a piece of history) in the state's Capital.All structures are currently being used by the USNA AA&F for non-profit office space and affiliated affairs, however, the property could serve as an absolutely extraordinary home/family compound, B&B/Inn, etc. Located on the prominent corner of King George St. & St. Johns College, large rear patio space, perfect for entertaining or events. There is also a separate elevator-served entrance serving Ogle Hall. The Seller has requested all interested parties return a registration/NDA agreement so we may properly share all materials that have been compiled from USNA AA&F for the review and consideration of a Buyer. This includes a recent title examination/title search letter, excerpts from a recent appraisal, floor plans ( note all dimensions are approx. and should be confirmed by buyer), interior/exterior photos, expense data, MHT info, etc. The same will be provided to Buyers via a secure dropbox link upon receipt of the signed NDA. Additionally, the USNA AA&F will be relocating to their new facility on campus in the August-November 2022 timeframe, therefore would have an interest in a possible rent-back after closing until such time the new facility is complete, with terms and conditions that can be mutually agreed upon in an offer to purchase. Please note the Seller is bringing the property to the market with 'price guidance' in the $4M+ range, however will be selling the property under a 'call for offers' sale, with all offers due by February 23rd. The Seller will be selecting the highest and best offer / buyer. We will be conducting property tours over the next few weeks and would be glad to answer any questions and further discuss at your convenience. Please contact Rosso Commercial Real Estate () for more information.

This listing originally appeared on realtor.com. For more information and photos, click here.