Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    9999 Westfield Princess Anne, MD 21853
    Back to Search
    Property profile & analytics

    9999 Westfield Princess Anne, MD 21853

    View on Map
    • Land
    • 6.55 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 9999 Westfield

    Lot size
    6.55 lot acres
    Property type
    Land

    Description

    This exceptional 6.55-acre parcel presents a unique opportunity for residential development within the town limits of Princess Anne, Maryland. Zoned R-1, this property allows for the construction of single-family and two-family dwellings, catering to a variety of building plans. Its convenient location offers easy access to local restaurants and shopping amenities, enhancing its appeal and potential for quick resale or rental income. The land is situated at 9999 Westfield, Princess Anne, MD 21853, in Somerset County. The asking price is $300,000, translating to approximately $45,802 per acre. Princess Anne itself is experiencing a period of significant growth, particularly in new residential construction. This positive trend is further bolstered by the expansion of the Princess Anne Industrial Park, which saw three new companies begin construction or expand in 2021 and 2022, with three more anticipated to start construction in 2023. This influx of jobs and increased population contributes to a robust and promising real estate market. The property's size and zoning make it ideal for both individual homebuilders and developers seeking to capitalize on the town's burgeoning residential sector. Don't miss this chance to acquire a piece of this thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Princess Anne
    County
    Somerset
    State
    Maryland
    Longitude
    -75.7372
    Latitude
    38.2169

    Comparable in this City

    • Value Estimation by Request
      3.30 Acres

      Somerset Ave

      Land • 3.30 Acres
      0 Somerset Ave, Princess Anne, MD 21853
      View Details
    • Value Estimation by Request
      6.55 Acres

      Mount Vernon Rd

      Land • 6.55 Acres
      0 Mount Vernon Rd, Princess Anne, MD 21853
      View Details
    • Value Estimation by Request
      65.07 Acres

      Rte 13 & Allen Rd

      Land • 65.07 Acres
      0 Rte 13 & Allen Rd, Princess Anne, MD 21853
      View Details
    • Value Estimation by Request

      Mccormick Swamp Rd

      Land
      0 Mccormick Swamp Rd, Princess Anne, MD 21853
      View Details
    • Value Estimation
      $6,030,000
      17,688 SF

      30630 Umes Blvd

      APARTMENT HOUSE (5+ UNITS) • 17,688 SF
      30630 Umes Blvd, Princess Anne, MD 21853-2937
      View Details
    • Value Estimation
      $550,000
      17,688 SF

      Umes Blvd

      APARTMENT HOUSE (100+ UNITS) • 17,688 SF
      Umes Blvd, Princess Anne, MD 21853
      View Details

    Similar Nearby for Sale

    • $299,900
      8.70 Acres

      Vacant Land on Ocean Highway

      8.70+- acre unimproved tract with frontage on RT 13.
      Ocean Hwy, Princess Anne, MD 21853
      View Details
    • $95,000

      Monie Creek Building Lot

      3.59 acre building lot in Covington Cove.
      28215 Merlin Ct, Princess Anne, MD 21853
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      12302 Somerset Ave, Princess Anne, MD 21853
      View Details
    • $1,175,000

      Princess Anne Multifamily Investment

      17-unit property near University of Maryland campus.
      11761 Somerset Ave, Princess Anne, MD 21853
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Apartment in Downtown Princess Anne

      Spacious apartment in downtown Princess Anne, available for rent.
      11771 Somerset Ave, Princess Anne, MD 21853
      View Details
    • Contact for pricing

      Land for Commercial Development

      Land available for industrial, warehouse, or office development.
      11437 Old Princess Anne Rd, Princess Anne, MD 21853
      View Details
    • $2,700 /Mo

      Versatile Commercial Space Available

      Divisible commercial space suitable for various business uses.
      11680 Somerset Ave, Princess Anne, MD 21853
      View Details
    • $2,700 /Mo

      Princess Anne Commercial Space Available

      Located off Princess Anne's main road, ideal for office/retail.
      11680 Somerset Ave, Princess Anne, MD 21853
      View Details
    • $795 /Mo

      Princess Anne Office Space Available

      Office space for rent in Princess Anne, Maryland.
      30507 Prince William St, Princess Anne, MD 21853
      View Details
    • $1,350 /Mo

      Divisible Commercial Space Available

      Flexible commercial space suitable for various business uses.
      11676 Somerset Ave, Princess Anne, MD 21853
      View Details
    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.
    9999 Westfield
    Princess Anne, MD 21853
    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

    Thank You for Inquiry
    9999 Westfield, Princess Anne, MD, 21853
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!