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

    Overlook Dr Somerset, PA 15501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Build your dream home on 0.55 acres.

    Property Features for 0 Overlook Dr

    General Information

    Property type
    Land
    Lot Size
    23,958 SF

    We can help!

    Listing Contact
    Scott Boyer
    Scott Boyer

    Listing Agent: Scott Boyer

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

    Learn more

    Overview

    This exceptional 0.55-acre commercial land parcel presents a unique opportunity in the desirable Somerset Borough, Pennsylvania. Located on Overlook Dr, (APN: Part of S41-045-024-01), this property is zoned for residential use, making it ideal for constructing a new home. The lot's size offers ample space for a substantial dwelling and landscaping. A significant advantage is the inclusion of a previously purchased sewer tap, eliminating a considerable expense and expediting the building process. This simplifies the development timeline and reduces upfront costs. The property is conveniently situated within Somerset Borough, offering proximity to local amenities, services, and transportation routes. This is a rare chance to acquire a build-ready lot in a sought-after location, combining convenience with the potential to create a custom-designed residence. The asking price is $49,000. The property's address is Overlook Dr, Somerset, PA 15501. This is a prime opportunity for those seeking to build in a desirable Somerset County neighborhood.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Somerset
    County
    Somerset
    State
    Pennsylvania
    Longitude
    -79.1001184
    Latitude
    39.9999905

    Nearby Similar for Sale

    • $250,000
      1.30 Acres

      Commercial Property on 1.3 Acres

      Spacious commercial property with office, warehouse, and detached buildings.
      702 Kimberly Ave, Somerset, PA 15501
      View Details
    • $250,000
      1.30 Acres

      Commercial Property on 1.3 Acres

      Spacious commercial property with office, warehouse, and detached buildings.
      702 S Kimberly Ave, Somerset, PA 15501
      View Details
    • $90,000
      Pending

      Historic Victorian Office Building

      Turn-of-the-century Queen Anne style building with unique architectural details.
      107 W Patriot St, Somerset, PA 15501
      View Details
    • $1,282,500
      2.00 Acres

      Well-Maintained Office Building For Sale

      7500 SF office building with newer roof and HVAC.
      142 Sagamore St, Somerset, PA 15501
      View Details
    • $225,000
      0.12 Acres

      Somerset Commercial Building with Apartment

      Commercial building with renovated apartment and parking in Somerset, PA.
      398 W Patriot St, Somerset, PA 15501
      View Details
    • $224,900
      0.85 Acres

      Mixed-Use Property with Commercial Shop

      Move-in-ready home and commercial shop on a high-traffic corridor.
      575 Stoystown Rd, Somerset, PA 15501
      View Details
    • $350,000

      Commercial Property with Garage Facilities

      Unique commercial property ideal for various business ventures.
      1963 New Centerville Rd, Somerset, PA 15501
      View Details
    • $475,000

      1548-1554 N Center Ave, Somerset, PA 15501

      Storefront properties
      1548-1554 N Center Ave, Somerset, PA 15501
      View Details
    • Contact for pricing

      Somerset Warehouse Distribution Facility

      368,594 SF warehouse on 34.392 acres for sale/lease.
      322 Revco Rd, Somerset, PA 15501
      View Details
    • Contact for pricing
      14,600 SF

      Established Restaurant & Sports Bar

      Thriving restaurant and sports bar in Somerset, Pennsylvania for sale.
      1640 N Center Ave, Somerset, PA 15501
      View Details
    • $375,000
      0.40 Acres

      Somerset Office Building - Prime Location

      Updated Medical Office, Ample Parking, Downtown Somerset
      105 Church St, Somerset, PA 15501
      View Details
    • $600,000
      0.81 Acres

      Mountain Restaurant & Banquet Hall

      Rustic Charm, Huge Potential, PA
      1239 Glades Pike, Somerset, PA 15501
      View Details

    FAQs

    What type of property is this?
    Land - Build your dream home on 0.55 acres.
    Where is this land located?
    The property is located at Overlook Dr Somerset, PA.
    What is the asking price?
    The asking price for this property is $49,000.
    What are key features of this property?
    This property features: $49,000 asking price for 0.55 acres of commercial land.; Located in Somerset, PA, 15501, on Overlook Dr.; Property is zoned Residential.
    (814) 445-4748 Call to check price and availability
    Request Owner's contact information
    Overlook Dr Somerset, PA 15501
    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.
    Overlook Dr
    Somerset, PA 15501
    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
    Overlook Dr Somerset, PA 15501
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Boyer
    Scott Boyer
    Real Estate License ID: RB029707A
    (814) 445-4748 (814) 483-0324
    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!