Add Listing
    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

    3501 George Washington Hwy Oakland, MD 21550

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $95,000

    2.86 acres of prime land with renovated garage.

    Lot size:
    2.86 Acres

    Property Features for 3501 George Washington Hwy

    General Information

    Standard status
    Pending
    Lot size
    2.86 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Zach Wesolowski
    Source: Exitrealty

    Listing Agency: Railey Realty, Inc. Listing Agent: Zach Wesolowski

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

    Learn more

    Overview

    2.86 Acres Prime Commercial Land

    This property at 3501 George Washington Highway features 2.86 acres of land suitable for commercial and investment purposes. It includes a recently renovated garage with four bays, adaptable for automotive, storage, or workshop use. A large gravel storage lot and a concrete pad accommodate outdoor storage needs. Two metal storage containers are also included, providing additional protected storage. The property benefits from high visibility and easy access due to its location along George Washington Highway.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Garrett
    State
    Maryland
    Longitude
    -79.433874
    Latitude
    39.297409

    Nearby Similar for Sale

    • $275,000
      1.93 Acres

      OAKLAND, MD Commercial Storefront

      Storefront in OAKLAND, MD with road frontage and parking.
      5423 Gorman Rd, Oakland, MD 21550
      View Details
    • $800,000

      Southern Garrett Industrial Park Office

      10,000 SF office building on 2.03 acres.
      14 Commerce Dr, Oakland, MD 21550
      View Details
    • $2,799,900

      Commercial Compound with Flex Space

      Secured commercial compound with offices, flex space, and parking.
      65 Enterprise Dr, Oakland, MD 21550
      View Details
    • $1,750,000

      Established Bowling Alley in Oakland

      Turn-key 12-lane bowling complex with arcade and full kitchen.
      499 Oakland Dr, Oakland, MD 21550
      View Details
    • $2,799,900

      Commercial Compound with Flex Space

      Secured commercial compound with offices, flex space, and parking.
      65 Enterprise Dr, Oakland, MD 21550
      View Details
    • $800,000

      Industrial Facility in Garrett Park

      10,000 SF office on 2.03 acres for sale.
      14 Commerce Dr, Oakland, MD 21550
      View Details
    • $865,000

      Oakland, MD Specialty Property

      Specialty property available for sale in Oakland, Maryland.
      1909 Pysell Crosscut Rd, Oakland, MD 21550
      View Details
    • $875,000

      Oakland Specialty Property For Sale

      Specialty property available for purchase in Oakland, Maryland.
      39 Leo Friend Rd, Oakland, MD 21550
      View Details
    • $380,000

      Oakland Specialty Property for Sale

      Specialty property available in Oakland, Maryland.
      723 Kings Ct, Oakland, MD 21550
      View Details
    • $619,900
      Pending

      Paradise Ridge Specialty Property

      Specialty property available for sale on Paradise Ridge Road.
      66 Paradise Ridge Rd, Oakland, MD 21550
      View Details
    • $359,000

      Oakland, MD Specialty Property

      Specialty property available for sale in Oakland, MD.
      961 Cedar Ln, Oakland, MD 21550
      View Details
    • $315,000

      Oakland, MD Specialty Property

      Specialty property available for sale in Oakland, Maryland.
      163 Crestview Dr, Oakland, MD 21550
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.86 acres of prime land with renovated garage.
    Where is this commercial land located?
    The property is located at 3501 George Washington Hwy Oakland, MD.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: - 2.86 acres of prime land suitable for commercial and investment purposes.; - High visibility and easy access due to its location on George Washington Highway.; - **Recently renovated garage with four spacious bays, suitable for automotive, storage, or workshop use.**
    (240) 321-5942
    Request Owner's contact information
    3501 George Washington Hwy Oakland, MD 21550
    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.
    3501 George Washington Hwy
    Oakland, MD 21550
    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
    3501 George Washington Hwy Oakland, MD 21550
    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
    Zach Wesolowski
    Real Estate License ID: 5008334
    (240) 321-5942 (301) 387-2000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!