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

    31425 Harvest Court Westover, MD 21871

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Building lot in Rehobeth Village, Somerset County.

    Type:Land / Fee Simple
    Added:
    Feb 21, 2019
    Days on Market:
    2615
    Last Refresh:
    Mar 13 at 2:20 pm

    Property Features for 31425 Harvest Court

    General Information

    Standard status
    Active
    Property subtype
    Land / Fee Simple

    We can help!

    Listing Contact
    Neda R. Howell

    Listing agent Neda R. Howell License #520592

    Listing office Long & Foster Real Estate, Inc.

    Listing date Feb 21, 2019

    Source Compass

    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 Long & Foster Real Estate, Inc.

    Overview

    Rehobeth Village Building Lot

    This building lot is located in the Rehobeth Village Subdivision. Additional perc testing is required. The property is situated 8 miles from Walmart and 6 miles from Holly Grove. It is also located 25 miles from Assateague VA - Chincoteague Beach and 22 miles from Wallops. The property is located in Somerset County, specifically in the Somerset East of Rt-13 (20-02) MLS area. The property is not located within city limits. The school district is SOMERSET COUNTY PUBLIC SCHOOLS.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Westover
    County
    Somerset
    State
    Maryland
    Longitude
    -75.6650599
    Latitude
    38.0442359

    Nearby Similar for Sale

    • $550,000

      292.8 Acres of Timberland

      Cut-over timberland in Westover, MD with road access.
      OLD WESTOVER MARION Road, WESTOVER, MD 21871
      View Details
    • $593,190

      219 Acres of Timber Land

      219+/- acres of timber in Pocomoke City, MD.
      FOLLOW DITCH Road, WESTOVER, MD 21871
      View Details
    • $304,780

      Westover Timberland with Road Frontage

      108.85 acres of timberland in Westover, MD for sale.
      REVELLS NECK Road, WESTOVER, MD 21871
      View Details
    • $79,900

      Westover Wooded Lot For Sale

      2.5 acre wooded lot in Westover, Maryland.
      FAIRMOUNT Road, WESTOVER, MD 21871
      View Details
    • $59,000

      Secluded Hunting Retreat in Westover

      5.84-acre hunting and recreational land near state conservation land.
      OCEAN Highway, WESTOVER, MD 21871
      View Details
    • $175,000

      Highway Commercial Land Parcel

      14.497 acres zoned C-2, Highway Commercial in Westover, MD.
      8758 Grill Lane, Westover, MD 21871
      View Details
    • $45,000

      Westover Land on Rt 13

      4.89 acre commercial land with high traffic visibility.
      Parcel 24 OCEAN HIGHWAY, WESTOVER, MD 21871
      View Details
    • $90,000

      Westover Land with Creek Frontage

      148.31 acres of waterfront land ideal for hunting.
      0 Rumbley Rd, Westover, MD 21871
      View Details
    • $29,900

      Westover Land for Sale

      1.29 acre building lot in Rehobeth Village Subdivision.
      6055 VILLAGE WAY, WESTOVER, MD 21871
      View Details
    • $29,900

      Land For Sale in Westover

      1.36 acre lot in Westover, MD, suitable for building.
      31355 HARVEST CT, WESTOVER, MD 21871
      View Details
    • $29,900

      Land for Sale in Westover

      1.48 acre lot in Westover, MD, owner financing available.
      31425 HARVEST CT, WESTOVER, MD 21871
      View Details

    FAQs

    What type of property is this?
    Land - Building lot in Rehobeth Village, Somerset County.
    Where is this land located?
    The property is located at 31425 Harvest Court Westover, MD.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Owner financing available.; Building lot in Rehobeth Village Subdivision.; Conveniently located, only 8 miles to Walmart.
    (410) 430-0076
    We can help!
    Listing Contact
    Neda R. Howell
    Real Estate License ID: 520592
    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!