Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    42 Colonial Ave Westminster, MD 21157

    Sponsored
    For Sale
    $98,500

    LAND - WESTMINSTER, MD

    Lot size:
    0.15 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 26 at 2:06 am

    Property Features for 42 Colonial Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.15 Acres

    We can help!

    Listing Contact
    Stanley E Groves

    RE/MAX Advantage Realty (410) 740-1200

    Listing agent Stanley E Groves (410) 751-7777 License #528689

    Listing date Jan 8, 2026

    MLS# MDCR2029178 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.

    Learn more

    Property Insight Report

    Overview

    Residential Land in Westminster, MD

    This residential land offers an opportunity to build a custom home on a lot located on a quiet dead-end street within the established Friendship Heights community in Westminster, Maryland. The property, framed by mature trees, is approximately 0.15 acres. The location provides convenient access to the hospital, Ag Center, and downtown Main Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Westminster
    County
    Carroll
    State
    Maryland
    Longitude
    -76.9856318
    Latitude
    39.56113585

    Nearby Similar for Sale

    • $1,800,000
      0.69 Acres

      Turnkey Restaurant Business in Westminster

      Profitable Italian restaurant business for sale in Westminster, Maryland.
      132 W Main St, Westminster, MD 21157
      View Details
    • New
      $340,000
      1,872 SF

      Westminster Duplex with Rental Potential

      Investment property featuring two units, each with two bedrooms.
      3808 Halter Rd, Westminster, MD 21158
      View Details
    • $795,000
      Pending

      Westminster Horse Farm with Income Potential

      21-acre horse farm with rental income potential near Westminster.
      3899 Bixler Church Rd, Westminster, MD 21158
      View Details
    • $620,997
      0.09 Acres

      Profitable Restaurant Business Opportunity

      Turnkey restaurant business with real estate in prime location.
      45 Pennsylvania Ave, Westminster, MD 21157
      View Details
    • $99,997
      0.09 Acres

      Profitable Westminster Carryout Business Opportunity

      Well-established carryout and delivery business for sale in Westminster.
      45 Pennsylvania Ave, Westminster, MD 21157
      View Details
    • $2,788,000
      6,325 SF

      Historic Equestrian Estate on 90 Acres

      Historic 90-acre equestrian estate with updated farmhouse and extensive facilities.
      2322 Nicodemus Rd, Westminster, MD 21157
      View Details
    • $200,000
      0.57 Acres

      Westminster Land with Development Potential

      Versatile property with development potential and seller financing available.
      184 Pleasant Valley Rd, Westminster, MD 21158
      View Details
    • $750,000

      Mixed-Use Property with Rental Income

      Mixed-use property featuring commercial space and five residential units.
      172 E Main St, Westminster, MD 21157
      View Details
    • $553,000

      Remodeled Cape Cod with Pole Barn

      Remodeled home with large garage, pole barn, and outbuilding.
      2244 Old Washington Rd, Westminster, MD 21157
      View Details
    • $268,500

      Charming Westminster Duplex with Updates

      Renovated duplex in the heart of Westminster, ideal for investment.
      92 Pennsylvania Ave, Westminster, MD 21157
      View Details
    • $279,000

      Well-Maintained Duplex with Fenced Yard

      Duplex with 3 bedrooms, deck, and fenced backyard.
      110 S Church St, Westminster, MD 21157
      View Details
    • $315,000
      1,808 SF

      Well-Kept Townhome with Finished Basement

      Comfortable townhome with finished basement, deck, and fenced backyard.
      503 S Hills Ct, Westminster, MD 21158
      View Details

    FAQs

    What type of property is this?
    Land - Residential land for custom home in established Friendship Heights community.
    Where is this land located?
    The property is located at 42 Colonial Ave Westminster, MD.
    What is the asking price?
    The asking price for this property is $98,500.
    What are key features of this property?
    This property features: - Exceptional, pancake-flat lot ideal for building a custom home.; - Located on a serene and quiet dead-end street.; - Situated in the established Friendship Heights community.
    (410) 751-7777
    Request Owner's contact information
    42 Colonial Ave Westminster, MD 21157
    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.
    42 Colonial Ave
    Westminster, MD 21157
    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
    42 Colonial Ave Westminster, MD 21157
    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

    We can help!
    Listing Contact
    Stanley E Groves
    Real Estate License ID: 528689
    (410) 751-7777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.