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    Waterfront Land with Deep-Water Access Title is generated by Realmo AI

    1003 OMAR Drive, Crownsville, MD 21032

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    Claim this Listing
    For Sale
    Under Contract
    $499,000

    LAND - CROWNSVILLE, MD

    Lot size:
    2.22 Acres
    Added:
    Oct 25, 2025
    Days on Market:
    223
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 1003 OMAR Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    Lot size
    2.22 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8531

    Utilities

    Water front features
    Navigable Water, Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Blake Wood

    Listing agent Blake Wood License #5020528

    Listing office Douglas Realty LLC 1410 Forest Drive unit: 8, Baltimore, MD

    Listing date Oct 25, 2025

    MLS# MDAA2129614 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2.22‑acre waterfront lot on Plum Creek, just off the Severn River
    • Level lot approved for a 3,200 sq ft home
    • Approximately 100' of waterfrontage with deep‑water access
    • Waterfront features include navigable water and natural shoreline
    • Lot completed a minor subdivision and was recorded in Anne Arundel County land records
    • Adjacent lot at 1001 Omar Dr (2.26 acres, MLS #MDAA2129488) is also for sale; site plans available upon request

    Overview

    Rare waterfront opportunity to build on a 2.22-acre, level site along Plum Creek. The lot provides approximately 100' of waterfront frontage and deep-water access, with mature trees and a natural shoreline setting. The property is approved for a 3,200 sq ft home, making it well suited for a primary residence planned around privacy and water access.

    Located at 1003 Omar Drive in Crownsville, just off the Severn River, the site balances a serene waterfront feel with convenience to the area. The lot recently went through a minor subdivision and is recorded in the land records for Anne Arundel County. A site plan is available for both this lot and the adjacent parcel upon request.

    This property fits buyers looking to design and construct a substantial waterfront home on a deep-water site with meaningful frontage. Builders and custom-home developers may also find it attractive for a private, wooded setting with clear approval for the home size. For those considering additional land area, the adjacent lot (1001 Omar Dr) with 2.26 acres is also for sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic Hotel & Motel Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crownsville
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.5781309
    Latitude
    39.0647623

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    FAQs

    What type of property is this?
    Waterfront Land - Level waterfront lot on Plum Creek with approved room for a 3,200 sq ft home.
    Where is this waterfront land located?
    The property is located at 1003 OMAR Drive Crownsville, MD.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: 2.22‑acre waterfront lot on Plum Creek, just off the Severn River; Level lot approved for a 3,200 sq ft home; Approximately 100' of waterfrontage with deep‑water access
    (410) 507-9854
    We can help!
    Listing Contact
    Blake Wood
    Real Estate License ID: 5020528
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1003 OMAR Drive, CROWNSVILLE, MD 21032
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