Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot 1 Cherrywood Dr Oakland, MD 21550

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $37,250

    Land available on Cherrywood Drive, Oakland, Maryland.

    Type:Land
    Added:
    Feb 3, 2025
    Days on Market:
    442
    Last Refresh:
    Mar 16 at 8:23 am

    Property Features for Lot 1 Cherrywood Dr

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Amy Skipper

    Listing agent Amy Skipper

    Listing office

    Listing date Feb 3, 2025

    Source Evrealestate

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

    All listing content including descriptions, pricing, images are the copyrighted material of Amy Skipper

    Overview

    Land for Sale in Oakland

    This land is located off of Route 135 to Deer Park Hotel Road, then right on Fricks Crossing Road, followed by a right onto Garrett Road, to Cherrywood Drive in Oakland, Maryland. The property is located in Garrett County.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Garrett
    State
    Maryland
    Longitude
    -79.3888
    Latitude
    39.3804

    Nearby Similar for Sale

    • $275,000

      OAKLAND, MD Commercial Storefront

      Storefront in OAKLAND, MD with road frontage and parking.
      5423 GORMAN Road, OAKLAND, MD 21550
      View Details
    • $18,000

      Mountain Resort Lot For Sale

      0.62-acre lot in gated mountain resort community.
      13 BIRCHWOOD Drive, OAKLAND, MD 21550
      View Details
    • $99,900

      Land in Paradise Ridge

      1.7-acre lot with lake access in Oakland, Maryland.
      MEADOW Court, OAKLAND, MD 21550
      View Details
    • $4,000

      Recreational Land in Gated Community

      Wooded lot in amenity-rich Yough Mountain Resort near Deep Creek.
      FOX TAIL RD lot: 36, OAKLAND, MD 21550
      View Details
    • $3,500

      Recreational Land in Oakland, MD

      0.56-acre wooded lot with access to community amenities.
      FAWN Drive lot: 40, OAKLAND, MD 21550
      View Details
    • $18,000

      Residential Land in Gated Community

      0.60-acre lot in Youghiogheny Mountain Resort, Oakland, MD.
      22 ELM Drive, OAKLAND, MD 21550
      View Details
    • $16,000

      Land in Gated Community

      0.49-acre lot in Youghiogheny Mountain Resort.
      21 BEAR Drive E, OAKLAND, MD 21550
      View Details
    • $18,000

      Residential Land in Gated Community

      0.47-acre lot near Wisp Resort, Deep Creek Lake.
      27 GOBBLER RUN Road, OAKLAND, MD 21550
      View Details
    • $3,500

      Unbuildable Lot in Mountain Resort

      Serene, unbuildable lot with resort access for outdoor enthusiasts.
      BEAVER RUN Road lot: 2, OAKLAND, MD 21550
      View Details
    • $25,000

      Vacant Land in Garrett County

      Approximately 3-acre vacant land parcel near Seneca Trail Highway.
      0 Hoye Crest, Oakland, MD 21550
      View Details
    • $1,750,000
      15,000 SF

      Established Bowling Alley in Oakland

      Turn-key 12-lane bowling complex with arcade and full kitchen.
      499 OAKLAND DRIVE, OAKLAND, MD 21550
      View Details
    • $248,500

      Land in Deep Creek Resort

      3.32 acres in Deep Creek Lake resort area.
      LAKE SHORE DRIVE, OAKLAND, MD 21550
      View Details

    FAQs

    What type of property is this?
    Land - Land available on Cherrywood Drive, Oakland, Maryland.
    Where is this land located?
    The property is located at Lot 1 Cherrywood Dr Oakland, MD.
    What is the asking price?
    The asking price for this property is $37,250.
    What are key features of this property?
    This property features: Located in Garrett County.; Enjoy the view of Trees/Woods.; Situated on Cherrywood Drive.
    (301) 501-1532
    We can help!
    Listing Contact
    Amy Skipper
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!