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    Maryland Timberland and Recreational Property Title is generated by Realmo AI

    WALNUT RIDGE Road SE, Oldtown, MD 21555

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    Claim this Listing
    For Sale
    $690,000

    LAND - OLDTOWN, MD

    Lot size:
    230.00 Acres
    Added:
    Apr 9, 2026
    Days on Market:
    50
    Last Refresh:
    May 28 at 11:06 am

    Property Features for WALNUT RIDGE Road SE

    General Information

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

    Taxes and HOA fees

    Tax Annual Amount
    0

    We can help!

    Listing Contact
    Jesse Robert Highling

    Listing agent Jesse Robert Highling

    Listing office The Land Group 126 W E Main Street, Salisbury, MD

    Listing date Apr 9, 2026

    MLS# MDAL2014366 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

    • 230+/- acres of contiguous hardwood timberland, ideal for hunting, recreation, and long‑term land investment.
    • Diverse terrain with ridgelines, benches, and hollows creating striking scenery.
    • Established and maintained trail system provides easy access throughout the property.
    • Abundant wildlife including whitetail deer, turkey, and black bear.
    • Mature hardwoods and pine offering excellent habitat and long‑term timber potential.
    • Close proximity to Cumberland, Rocky Gap State Park, Green Ridge State Forest and Warrior Mountain Wildlife Management Area.

    Overview

    Walnut Ridge offers 230+/- acres of contiguous hardwood timberland situated in Western Maryland's recreational corridor. The property features rolling to steep mountain topography, creating a dynamic landscape of ridgelines, benches, and hollows. This landscape is suited for recreational use, hunting, and long-term land investment. The varied terrain supports deer movement, with natural funnels and transition zones. The region is known for its population of whitetail deer, turkey, and black bear. A maintained trail system allows for access throughout the property and the ability to hunt multiple stand locations. The timber composition consists primarily of mature hardwoods and pine, offering habitat value along with long-term timber potential. The size and layout of Walnut Ridge provide privacy and the opportunity to establish a private retreat, hunting camp, or legacy holding. Located near Cumberland and Rocky Gap State Park, and within close proximity to Green Ridge State Forest and Warrior Mountain Wildlife Management Area, Walnut Ridge is surrounded by managed public land.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Oldtown
    County
    Allegany
    State
    Maryland
    Longitude
    -78.656753
    Latitude
    39.600852

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    FAQs

    What type of property is this?
    Hunting land - 230+/- acre recreational and hunting land in Oldtown, Maryland.
    Where is this hunting land located?
    The property is located at WALNUT RIDGE Road SE Oldtown, MD.
    What is the asking price?
    The asking price for this property is $690,000.
    What are key features of this property?
    This property features: 230+/- acres of contiguous hardwood timberland, ideal for hunting, recreation, and long‑term land investment.; Diverse terrain with ridgelines, benches, and hollows creating striking scenery.; Established and maintained trail system provides easy access throughout the property.
    (240) 674-0845
    We can help!
    Listing Contact
    Jesse Robert Highling
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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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