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    16129 Piney Point Rd Piney Point, MD 20674

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    For Sale
    $559,000

    Water-dependent commercial property in historic St. George Island.

    Lot size:
    0.98 Acres

    Property Features for 16129 Piney Point Rd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.98 Acres

    Building Details

    Year built
    1971

    We can help!

    Listing Contact
    Lisa Dawn Wood
    Lisa Dawn Wood
    Source: Elliman

    Listing Agency: O'Brien Home Sales Inc. Listing Agent: Lisa Dawn Wood

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

    Learn more

    Overview

    Historic Waterfront Oyster House

    This secluded Oyster House, residentially zoned as a non-conforming water-dependent commercial use, is situated in a historic fishing village on St. George Island, near the Chesapeake Bay and off the Potomac River. The property is suitable for businesses requiring water access, such as a private marina for docking on the Intracoastal, with a reported 4’ MLW in the channel and at the pier. Potential uses include seafood distribution, charter boat fishing, event venues, conservation and environmental programs, education, aquaculture marina, or tour boat docks; the purchaser should confirm desired uses. The oyster house and pier are equipped with electricity and running water, and there are two half bathrooms in the building. A new roof was installed on the Oyster House in 2021. The Oyster House is connected to public sewer. The property offers an additional sewer hookup for a single-family home. The Oyster House is considered an ancillary use and is independently grandfathered as part of any new single-family residential building permit. Historic St. George Island is known for attracting permanent and migratory birds, including osprey nests, blue herons, and purple martins, which return annually to nesting sites over Island Creek off this parcel. The property has centuries of maritime history dating back to the founding of Maryland in 1634.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Piney Point
    County
    St. Mary's
    State
    Maryland
    Longitude
    -76.4690137
    Latitude
    38.1106366

    Nearby Similar for Sale

    • New
      $559,000
      0.98 Acres

      Water-Dependent Commercial Use Opportunity

      Unique property in historic fishing village with water access.
      16129 Piney Point Rd, Piney Point, MD 20674
      View Details
    • $874,900

      Specialty Property for Sale

      Specialty property available for purchase.
      17203 Piney Point Rd, Piney Point, MD 20674
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Water-dependent commercial property in historic St. George Island.
    Where is this waterfront land located?
    The property is located at 16129 Piney Point Rd Piney Point, MD.
    What is the asking price?
    The asking price for this property is $559,000.
    What are key features of this property?
    This property features: - Water-dependent commercial zoning in historic fishing village with Potomac River/Chesapeake Bay access.; - Potential for **private marina** with reported 4’ MLW channel and pier depth.; - Grandfathered Oyster House (new roof in 2021) can be ancillary to a new single-family home.
    (240) 298-1244
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    16129 Piney Point Rd Piney Point, MD 20674
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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
    16129 Piney Point Rd Piney Point, MD 20674
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    We can help!
    Listing Contact
    Lisa Dawn Wood
    Lisa Dawn Wood
    Real Estate License ID: 518189
    (240) 298-1244 (301) 863-2400
    Learn more
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