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

    806 Pengrove Ct, Unit 54 Bowie, MD 20716

    Sponsored
    For Sale
    $199,900

    LAND - BOWIE, MD

    Lot size:
    0.19 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 25 at 7:06 am

    Property Features for 806 Pengrove Ct

    General Information

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

    We can help!

    Listing Contact
    Jenell E Forman

    The Pinnacle Real Estate Company (410) 560-3556

    Listing agent Liz Warren (410) 560-3556 License #678449

    Listing date Jan 23, 2026

    MLS# MDPG2181156 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 Ternberry

    A homesite is available for sale in the established community of Ternberry. The gently rolling lot features mature trees. The lot is owned by a builder with a preliminarily approved Spruce floor plan from Prince George's County. The Spruce is a two-story floor plan with 4-5 bedrooms, dual zone heating and air conditioning, a main level study, a second floor laundry, a luxury owner's suite and bath with dual walk-in closets, spacious secondary bedroom sizes, a 2-car garage, and an optional finished basement. A 10-year limited structural warranty is included. Construction financing is available. The builder is a local father and son team with over 50 years of combined experience building in Maryland. All tax information is estimated. The property is located in Bowie, MD.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Grocery Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bowie
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.72451
    Latitude
    38.90114

    Nearby Similar for Sale

    • $895,000
      2,636 SF

      Historic Estate: Mullikin's Delight

      Historic 15.8-acre estate with a modernized 3,000 sq ft residence.
      2307 Church Rd, Bowie, MD 20721
      View Details
    • $3,750,000
      8,533 SF

      Bowie Retail Investment Opportunity

      Freestanding retail property in Bowie, MD with established tenants.
      15704 Mount Oak Rd, Bowie, MD 20716
      View Details
    • $490,000

      End-Unit Townhome with Upgrades

      Well-maintained townhome featuring modern upgrades and convenient location.
      1709 Chinaberry Ct, Bowie, MD 20721
      View Details
    • $3,750,000
      8,533 SF

      Retail Investment Property For Sale

      Freestanding retail property with established tenants and immediate income.
      15700-15710 Mount Oak Rd, Bowie, MD 20716
      View Details
    • $295,000

      Updated Condo Near Bowie Center

      Move-in ready 2-bed condo with modern updates and convenient location.
      15602 Everglade Ln, Bowie, MD 20716
      View Details
    • $399,999

      Four-Level Townhome with Three Suites

      Townhome featuring three primary suites, chef's kitchen, and wooded backdrop.
      618 Evening Star Pl, Bowie, MD 20721
      View Details
    • $641,995

      Spacious End-Unit Home with Park View

      Move-in ready, end-unit home backing to future regional park.
      3453 Saint Robin Ln, Bowie, MD 20716
      View Details
    • $599,000

      Spacious End-Unit Home Near Park

      2823 sq ft end-unit home backing to future park.
      3439 Saint Robin Ln, Bowie, MD 20716
      View Details
    • $324,999

      Professional Office Suite For Sale

      Private front office suite in well-maintained brick office park.
      14300 Gallant Fox Ln, Bowie, MD 20715
      View Details
    • $385,000

      Commercial Unit on Annapolis Road

      Commercial unit on Annapolis Road in Bowie, Maryland for sale.
      13623 Annapolis Rd, Bowie, MD 20720
      View Details
    • $640,000
      3,180 SF

      Bowie Flex Condo For Sale

      3,180 SF flex condo with office and warehouse space.
      5800 Woodcliff Rd, Bowie, MD 20720
      View Details
    • $480,000
      2,640 SF

      Spacious Townhome with Finished Basement

      Three-level townhome featuring hardwood floors, gourmet kitchen, and finished basement.
      1706 Spanish Oak Ln, Bowie, MD 20721
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Homesite in established community with mature trees.
    Where is this residential land & home lot located?
    The property is located at 806 Pengrove Ct, Unit 54 Bowie, MD.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: - Cul-de-sac homesite in established Ternberry community.; - Lot owned by builder with preliminarily approved 'Spruce' floor plan (4-5 bedroom, two-story).; - **Spruce floor plan includes dual zone heating & air, main level study, 2nd floor laundry, luxury owner's suite with dual walk-in closets.**
    (443) 838-7000
    Request Owner's contact information
    806 Pengrove Ct, Unit 54 Bowie, MD 20716
    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.
    806 Pengrove Ct, Unit 54
    Bowie, MD 20716
    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
    806 Pengrove Ct, Unit 54 Bowie, MD 20716
    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
    Jenell E Forman
    Real Estate License ID: 629270
    (443) 838-7000
    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.