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

    7225 Hanover Pkwy, Unit 722 Greenbelt, MD 20770

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $150,000

    Commercial land available for sale.

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    Billy Okoye
    Billy Okoye
    Source: Elliman

    Listing Agent: Billy Okoye

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Land For Sale

    Commercial land is available for sale.
    Location Intelligence

    Current Use by Public Records

    New Millennial Counseling Psychiatrist NikoPat & Associates, CPA Certified Public Accountant Maya Foster Marriage Or Relationship Counselor Berlinda Blanc Nurse Practitioner

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenbelt
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.8767993
    Latitude
    38.9888643

    Nearby Similar for Sale

    • $900,000

      Modern Office Space in Greenbelt

      Well-appointed office space with modern accents, built out in 2021.
      7821 Belle Point Dr, Greenbelt, MD 20770
      View Details
    • $329,000

      Refreshed Townhome in Windsor Green

      Move-in ready 3-bedroom townhome with community amenities.
      8241 Canning Ter, Greenbelt, MD 20770
      View Details
    • $340,000

      Greenbelt Co-op Townhome with Expansion

      Expanded 2-bedroom co-op with rare central air conditioning.
      45 Ridge Rd, Greenbelt, MD 20770
      View Details
    • $384,980

      Move-In Ready Townhouse in Greenbelt

      Tri-level brick townhouse with updates and community amenities.
      7108 Ora Glen Ct, Greenbelt, MD 20770
      View Details
    • $275,000

      Stylish Condo with Modern Amenities

      Two-bedroom condo with updated kitchen and community amenities.
      6522 Lake Park Dr, Greenbelt, MD 20770
      View Details
    • $465,000

      Renovated Townhouse with Income Potential

      Renovated Greenbelt townhouse with studio apartment and rental income.
      7820 Emilys Way, Greenbelt, MD 20770
      View Details
    • $195,000

      Charming Two-Bedroom Home

      Two-bedroom home with hardwood floors near nature trails.
      54 Ridge Rd, Greenbelt, MD 20770
      View Details
    • $720,900

      Medical Office Condominium For Sale

      Well-located business condominium with multiple examination rooms and office spaces.
      7300 Hanover Dr, Greenbelt, MD 20770
      View Details
    • $325,000

      Greenbelt Office Condominium For Sale

      Two contiguous office units in Greenbelt, Maryland, for sale.
      7347 Hanover Pkwy, Greenbelt, MD 20770
      View Details
    • $204,900

      Updated Townhome in Old Greenbelt

      Two-bedroom townhome with updated kitchen and hardwood floors.
      2 Laurel Hill Rd, Greenbelt, MD 20770
      View Details
    • $164,900

      Greenbelt Office with Recent Upgrades

      Office space in Greenbelt featuring recent interior and HVAC upgrades.
      7343 Hanover Pkwy, Greenbelt, MD 20770
      View Details
    • $350,000
      931 SF

      Move-in Ready Dental Office Space

      Dental office space with easy access to Beltway & Greenbelt.
      7861-7875 Belle Point Dr, Greenbelt, MD 20770
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available for sale.
    Where is this commercial land located?
    The property is located at 7225 Hanover Pkwy, Unit 722 Greenbelt, MD.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: - Commercial land available; - Property available for sale; - Year Built: 1988
    (301) 262-3060
    Request Owner's contact information
    7225 Hanover Pkwy, Unit 722 Greenbelt, MD 20770
    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.
    7225 Hanover Pkwy, Unit 722
    Greenbelt, MD 20770
    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
    7225 Hanover Pkwy, Unit 722 Greenbelt, MD 20770
    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
    Billy Okoye
    Billy Okoye
    (301) 262-3060
    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.