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    120 Sundance Way McHenry, MD 21541

    Sponsored
    For Sale
    $119,900

    Build Your Dream Home in Deep Creek! .78 Acres, Utilities Available.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 0.78-acre residential lot, located at 120 Sundance Way in McHenry, Maryland (zip code 21541), presents a unique opportunity to build your dream home in the desirable Deep Creek Lake area. Situated within the Highline Subdivision in Garrett County, this property boasts convenient access to numerous amenities. Enjoy proximity to Wisp Resort, various state parks, and the picturesque Deep Creek Lake. All public utilities are readily available, making construction seamless and straightforward. The lot offers the potential for a filtered lake view, adding to its desirability. The APN is 15670997. This property is zoned for residential use. An adjacent lot (Lot 119) is also available for purchase, and the seller is willing to negotiate a package price for both lots. Don't miss this chance to create your ideal mountain retreat. This is a prime opportunity to build a custom home in a highly sought-after location.

    Property Features for 120 Sundance Way

    General Information

    Property type
    Land
    Lot Size
    33,977 SF

    We can help!

    Listing Contact
    Christy Kopp
    Christy Kopp

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Gym & Fitness Clothing Store Cafe & Coffee Shop Convenience Store Wine and Liquor Store Travel Agency Breakfast Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    McHenry
    County
    Garrett
    State
    Maryland
    Longitude
    -79.3663692
    Latitude
    39.5416654

    Nearby Comparable

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      Highline Drive Specialty Property

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    • $223,000

      Deep Creek Lake Fractional Ownership

      Fractional ownership in a mountaintop villa with lake views.
      758 Wisp Mountain Rd, Mc Henry, MD 21541
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    • $425,000

      Bright Passage Property for Sale

      Specialty property available in Mc Henry, Maryland.
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    • $1,200,000

      Marsh Hill Road Property

      Property located on Marsh Hill Road, Mc Henry, MD 21541.
      1321 Marsh Hill Rd, Mc Henry, MD 21541
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    • $399,900

      Villages of Wisp Townhome

      Ski-in/ski-out access and lake views in all seasons.
      7 Winding Way, Mc Henry, MD 21541
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    • $399,000

      Lakeview Court Specialty Property

      Specialty property for sale in Mc Henry, Maryland.
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    FAQs

    What type of property is this?
    Land - Build Your Dream Home in Deep Creek! .78 Acres, Utilities Available.
    Where is this land located?
    The property is located at 120 Sundance Way McHenry, MD.
    What is the asking price?
    The asking price for this property is $119,900.
    Request Owner's contact information
    120 Sundance Way McHenry, MD 21541
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    McHenry, MD 21541
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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
    120 Sundance Way McHenry, MD 21541
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    We can help!
    Listing Contact
    Christy Kopp
    Christy Kopp
    Real Estate License ID: 588631
    Learn more
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