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    Property profile & analytics

    41640 Courthouse Dr Leonardtown, MD 20650

    • Office Properties & Spaces
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Technology Reflections / Website Designer
    • Seventy2 Capital - Leonardtown Office / Financial Planner
    • Wells Fargo Advisors Financial Network / Investment Service / Atm
    • Daugherty Marie B / Lawyer
    • Beck Enterprises / Real Estate Developer

    Property Details for 41640 Courthouse Dr

    Year built
    2000
    Lot size
    0.03 lot acres
    Property type
    Office Properties & Spaces

    Description

    This exceptional office space, located at 41640 Courthouse Drive Unit 200 in Leonardtown, Maryland, presents a unique opportunity for businesses seeking a convenient and well-situated location. Situated on a 0.03-acre lot, this property offers a professional environment ideal for a variety of office uses. While the exact square footage is currently unavailable, the unit is ready for immediate occupancy. The address, 41640 Courthouse Drive Unit 200, provides excellent visibility and accessibility, making it an attractive option for clients and employees alike. Leonardtown offers a thriving business community and is conveniently located within easy reach of major transportation routes, ensuring seamless commutes and efficient logistics. This property is priced to lease and represents an excellent value for businesses seeking a strategic location in a desirable market. Interested parties are encouraged to inquire promptly to secure this exceptional opportunity. The property is currently listed without a specified price, allowing for flexible negotiation and tailored lease terms to meet individual business needs. This makes it an attractive option for businesses of various sizes and financial capabilities. The lack of a listed square footage necessitates an in-person viewing to assess the space's suitability. Contact us today to schedule a showing and explore the possibilities this prime Leonardtown office space offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Leonardtown
    County
    St. Mary's
    State
    Maryland
    Longitude
    -76.6358
    Latitude
    38.2897

    Comparable in this City

    • Value Estimation
      $200,000
      1,469 SF

      41640 Courthouse Dr, Unit 100

      CONDOMINIUM OFFICES • 1,469 SF
      41640 Courthouse Dr, Leonardtown, MD 20650-3889
      View Details
    • Value Estimation
      $210,000
      1,938 SF

      25482 Pt Lookout Rd Ste, Unit 201

      CONDOMINIUM OFFICES • 1,938 SF
      25482 Pt Lookout Rd Ste, Leonardtown, MD 20650-3895
      View Details
    • Value Estimation
      $190,000
      1,048 SF

      41660 Courthouse Dr, Unit 200

      CONDOMINIUM OFFICES • 1,048 SF
      41660 Courthouse Dr, Leonardtown, MD 20650-3887
      View Details
    • Value Estimation
      $210,000
      906 SF

      26840 Pt Lookout Rd, Unit 5

      CONDOMINIUM OFFICES • 906 SF
      26840 Pt Lookout Rd, Leonardtown, MD 20650
      View Details
    • Value Estimation
      $3,800,000
      1,490 SF

      23000 Moakley St, Unit 2A

      CONDOMINIUM OFFICES • 1,490 SF
      23000 Moakley St, Leonardtown, MD 20650-2915
      View Details
    • Value Estimation
      $2,615,000
      1,536 SF

      23000 Moakley St, Unit 1D

      CONDOMINIUM OFFICES • 1,536 SF
      23000 Moakley St, Leonardtown, MD 20650-2915
      View Details

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    Leonardtown, MD 20650
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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.

    More about this property
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