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    2.32Ac +/- Commercial Development Opportunity Williamsport, MD 21795

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    2.32 Acres, High Visibility, General Commercial Zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 2.32-acre commercial land parcel presents a prime development opportunity in Williamsport, Maryland. Boasting unparalleled highway visibility, this property is strategically located for maximum impact. Its General Commercial (GC) zoning allows for a wide range of commercial uses, making it ideal for businesses seeking high traffic exposure. The site benefits from immediate proximity to an Interstate exit, ensuring easy accessibility for customers and employees. Specifically, the property enjoys high visibility from Route 81, which sees an average daily traffic count of 64,310 vehicles, and from Virginia Avenue (Route 1), with an average daily traffic count of 15,552 vehicles. This translates to significant potential for attracting a large customer base. The location in Washington County, Maryland, zip code 21795, offers a thriving business environment and strong community connections. This is a rare chance to acquire a highly visible and versatile commercial land parcel in a desirable location. The property's size and zoning provide ample flexibility for a variety of development projects, making it an attractive investment for both established businesses and new ventures. Seize this opportunity to establish a strong presence in a high-traffic area with excellent growth potential. The coordinates are 39.5934948 latitude and -77.802417 longitude.

    Property Features for 0 2.32Ac +/- Commercial Development Opportunity

    General Information

    Property type
    Land
    Lot Size
    101,059 SF

    HighLights

    • 2.32‑acre commercial land parcel in Williamsport, MD.
    • High visibility from Interstate exit.
    • Zoned GC (General Commercial).
    • High traffic counts: Rt 81 (64,310 ADT) and Va Ave (15,552 ADT).
    • Excellent commercial development opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Williamsport
    County
    Washington
    State
    Maryland
    Longitude
    -77.802417
    Latitude
    39.5934948

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    FAQs

    What type of property is this?
    Land - 2.32 Acres, High Visibility, General Commercial Zoning
    Where is this land located?
    The property is located at 2.32Ac +/- Commercial Development Opportunity Williamsport, MD.
    What are key features of this property?
    This property features: 2.32-acre commercial land parcel in Williamsport, MD.; High visibility from Interstate exit.; Zoned GC (General Commercial).
    Request Owner's contact information
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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.

    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
    2.32Ac +/- Commercial Development Opportunity Williamsport, MD 21795
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