Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    9010 Ocean Hwy Westover, MD 21871-3300

    • Grocery and convenience stores
    • 5,727 SF
    • 2.14 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1507740
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 9010 Ocean Hwy

    Year built
    2005
    Lot size
    2.14 lot acres
    Property size
    5,727 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    13-001502
    APU
    13001502

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Westover
    County
    Somerset
    State
    Maryland
    Longitude
    -75.6947
    Latitude
    38.1284
    CBSA code
    41540
    CBSA name
    SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,057
    $418,900
    $845,200
    $1,264,100
    -
    $418,900
    $845,200
    $1,264,100

    Comparable in this City

    • Value Estimation
      $60,000
      2,040 SF

      26860 Fairmount Rd

      GROCERY, SUPERMARKET • 2,040 SF
      26860 Fairmount Rd, Westover, MD 21871-4222
      View Details
    • Value Estimation
      $395,000
      864 SF

      8658 Lk Somerset Rd

      GROCERY, SUPERMARKET • 864 SF
      8658 Lk Somerset Rd, Westover, MD 21871-3212
      View Details
    • Value Estimation
      $250,000
      2,376 SF

      8910 Crisfield Hwy

      CONVENIENCE STORE • 2,376 SF
      8910 Crisfield Hwy, Westover, MD 21871-3909
      View Details
    • Value Estimation
      $270,000
      1,370 SF

      30541 Revells Nck Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,370 SF
      30541 Revells Nck Rd, Westover, MD 21871
      View Details
    • Value Estimation
      $255,000
      2,880 SF

      27568 Fairmount Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      27568 Fairmount Rd, Westover, MD 21871
      View Details
    • Value Estimation
      $270,000
      1,200 SF

      28720 Fairmount Rd

      AUTO REPAIR, GARAGE • 1,200 SF
      28720 Fairmount Rd, Westover, MD 21871
      View Details

    Similar Nearby for Sale

    • $127,000

      Water View Property Near River

      Property near Pocomoke River with water views and outdoor recreation.
      5733 Coventry Parish Rd, Westover, MD 21871
      View Details
    • $71,000
      7.64 Acres

      Waterfront Land on Halls Creek

      7.64 acres with 1,700+ feet of shoreline on Halls Creek.
      7461 Lower Hill Rd, Westover, MD 21871
      View Details
    • $395,000

      41.8 Acres Agricultural Land Westover

      41.8 acres of land, zoned R-2, with agricultural use.
      30299 Sam Barnes Rd, Westover, MD 21871
      View Details
    • $395,000

      Westover Specialty Property for Sale

      Specialty property available for purchase in Westover, Maryland.
      25830 Rumbley Rd, Westover, MD 21871
      View Details
    • Contact for pricing
      1.48 Acres

      Land for Sale in Westover

      1.48 acre lot in Westover, MD, owner financing available.
      31425 Harvest Ct, Westover, MD 21871
      View Details
    • $725,000

      Established Poultry Farm For Sale

      Well-maintained poultry farm with multiple houses and updated systems.
      30560 Charles Barnes Rd, Westover, MD 21871
      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.
    9010 Ocean Hwy
    Westover, MD 21871-3300
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.