Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Hanover Land Parcel for Sale Title is generated by Realmo AI

    PARCEL 265 WRIGHT RD, Hanover, MD 21076

    View on Map
    Claim this Listing
    Pending
    $1,190,224

    Lots/Land/Farm - HANOVER, MD

    Type:Farm
    Lot size:
    2.00 Acres
    Added:
    Aug 27, 2023
    Days on Market:
    1009
    Last Refresh:
    May 31 at 10:06 pm

    Property Features for PARCEL 265 WRIGHT RD

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Pending
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2765

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Gina G Matthews

    Listing agent Gina G Matthews

    Listing office Crofton Bowie 2191 Defense Highway, MD

    Listing date Aug 27, 2023

    MLS# MDAA2062310 Listing URL

    Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rezoned to R‑15: Increasing development potential of all eight properties.
    • Large Contiguous Land: Over 10.3 acres of undeveloped land.
    • Prime Location: Close to Arundel Mills/Maryland Live Casino and Fort Meade.
    • Developer/Builder Opportunity: Ideal for development, surrounded by protected lands.
    • Due Diligence Completed: Surveyed properties and utility capacity determined.
    • Convenient Commute: Easy access to major commuter routes, MARC train stations, and BWI airport.

    Overview

    This parcel is part of the Wright Road Group (WRG), an assemblage of eight properties, representing one of the few remaining areas of undeveloped land in northern Anne Arundel County. The properties have been rezoned to R-15. The eight contiguous parcels total over 10.3 acres. The location is near Arundel Mills/Maryland Live Casino and Fort Meade. The properties are surrounded by protected lands, trees, and existing residential communities. The location allows for a commute to Downtown Baltimore in 20 minutes and Washington DC in 40 minutes. There is access to commuter routes including Rt. 100, I-95, and I-295, providing access to major employers such as Fort Meade, National Business Park, and NSA. Residents have access to MARC train stations and the BWI airport. This parcel has a lot size of 2 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.73548
    Latitude
    39.16263

    Nearby Similar for Sale

    • $900,000

      Residential Land in Hanover, MD

      4.6-acre property near Arundel Mills, ready for development.
      RIDGE Road, HANOVER, MD 21076
      View Details
    • $299,000

      Hanover Industrial Land Opportunity

      0.73-acre industrial land parcel in Hanover, MD for sale.
      7250 RACE Rd, Hanover, MD 21076
      View Details
    • $299,000

      Industrial Land Development Opportunity

      0.73-acre industrial land parcel zoned W-2 in Hanover, MD.
      7250 Race Road, Hanover, MD 21076
      View Details
    • $3,395,250
      15,090 SF

      15,090 SF Industrial Building For Sale

      Free-standing industrial building with secured yard and high power capacity.
      7267 Park Cir Dr, Hanover, MD
      View Details
    • Contact for pricing

      Dorsey Road Redevelopment Opportunity

      Redevelopment site near Rt. 100 and BWI Airport.
      1726 Dorsey Road, Hanover, MD 21076
      View Details
    • $3,800,000
      1,260 SF

      Hanover Industrial Land For Sale

      5 acres of heavy industrial land ready for development.
      7234 Ridge Rd, Hanover, MD 21076
      View Details
    • Contact for pricing

      Candlewood Road Specialty Property

      Specialty property available for sale on Candlewood Road.
      7476 Candlewood Road, Hanover, MD 21076
      View Details
    • $565,357

      Undeveloped Land Parcel in Hanover

      Part of 10.3-acre assemblage near Arundel Mills and Fort Meade.
      PARCEL 271 WRIGHT RD, HANOVER, MD 21076
      View Details
    • $1,184,273

      Hanover Land Parcel for Sale

      1.99 acre land parcel in Hanover, MD, rezoned to R-15.
      PARCEL 261-7135 WRIGHT RD, HANOVER, MD 21076
      View Details
    • $892,668

      Hanover Land Parcel for Sale

      1.5 acre land parcel rezoned to R-15.
      PARCEL 252-7143 WRIGHT RD, HANOVER, MD 21076
      View Details
    • $950,254

      Hanover Land Parcel for Sale

      1.44 acre land parcel in Hanover, MD, rezoned R-15.
      PARCEL 260-7131 WRIGHT RD, HANOVER, MD 21076
      View Details
    • $892,668

      Land Parcel in Hanover, MD

      1.5 acre land parcel rezoned to R-15.
      PARCEL 325 WRIGHT RD, HANOVER, MD 21076
      View Details

    FAQs

    What type of property is this?
    Land - Land parcel in Hanover, MD, rezoned to R-15.
    Where is this land located?
    The property is located at PARCEL 265 WRIGHT RD Hanover, MD.
    What is the asking price?
    The asking price for this property is $1,190,224.
    What are key features of this property?
    This property features: Rezoned to R‑15: Increasing development potential of all eight properties.; Large Contiguous Land: Over 10.3 acres of undeveloped land.; Prime Location: Close to Arundel Mills/Maryland Live Casino and Fort Meade.
    (888) 536-0216
    We can help!
    Listing Contact
    Gina G Matthews
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    PARCEL 265 WRIGHT RD, HANOVER, MD 21076
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!