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    41620 Courthouse Dr Leonardtown, MD 20650-3887
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    Property profile & analytics

    41620 Courthouse Dr Leonardtown, MD 20650-3887

    View on Map
    • Office buildings
    • 3,259 SF
    • 0.04 lot acres
    Off-Market
    Property ID
    US40-0159903
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CyberGlobalNet / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Community Mediation of St. Mary's County / Mediation Service / Community Center
    • Worton Asphalt Paving / General Contractor / Construction Company
    • Nanny On Call / Daycare Center / Foster Care Service
    • Birth as you Wish Birth Services / Alternative Medicine Practice / Medical Clinic

    Property Details for 41620 Courthouse Dr

    Year built
    1958
    Construction
    WOOD
    Lot size
    0.04 lot acres
    Property size
    3,259 SF
    Zone code
    C-O
    Property type
    Office buildings
    APN
    03-027864
    APU
    3027864

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Leonardtown
    County
    St. Mary's
    State
    Maryland
    Longitude
    -76.6359
    Latitude
    38.2898
    CBSA code
    15680
    CBSA name
    CALIFORNIA-LEXINGTON PARK, MD 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
    $3,692
    $42,100
    $282,600
    $324,700
    -
    $42,100
    $282,600
    $324,700

    Comparable in this City

    • Value Estimation
      $9,665,000
      77,920 SF

      23110 Leonard Hall Dr

      OFFICE BUILDING • 77,920 SF
      23110 Leonard Hall Dr, Leonardtown, MD 20650-5831
      View Details
    • Value Estimation
      $1,315,000
      6,635 SF

      25395 Pt Lookout Rd

      OFFICE BUILDING • 6,635 SF
      25395 Pt Lookout Rd, Leonardtown, MD 20650
      View Details
    • Value Estimation by Request
      960 SF

      23160 Moakley St

      OFFICE BUILDING • 960 SF
      23160 Moakley St, Leonardtown, MD 20650-2922
      View Details
    • Value Estimation
      $690,000
      5,735 SF

      22699 Washington St

      OFFICE BUILDING • 5,735 SF
      22699 Washington St, Leonardtown, MD 20650-3848
      View Details
    • Value Estimation by Request
      1,580 SF

      22665 Washington St

      OFFICE BUILDING • 1,580 SF
      22665 Washington St, Leonardtown, MD 20650-3848
      View Details
    • Value Estimation
      $1,055,000
      9,268 SF

      41650 Tudor Hall Rd

      OFFICE BUILDING • 9,268 SF
      41650 Tudor Hall Rd, Leonardtown, MD 20650
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Prime Commercial Land Opportunity

      Land on Rt. 5 near shopping center.
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    • Contact for pricing
      0.18 Acres

      Leonardtown Office Suite - Prime Location

      Move-in ready office, courthouse views.
      41610 Courthouse Dr, Leonardtown, MD 20650
      View Details
    • $300,000
      1.51 Acres

      Residential Land Near Historic District

      Land parcel near Leonardtown's shops, dining, and waterfront.
      41708 Fenwick St, Leonardtown, MD 20650
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr

      Leonardtown Office Space for Lease

      Prime office space in the heart of Leonardtown, Maryland.
      41625 Park Ave, Leonardtown, MD 20650
      View Details
    • $1,800 /Mo

      Leonardtown Office/Retail Opportunity

      Customizable 500 SF space in a desirable location.
      40855 Merchants Ln, Leonardtown, MD 20650
      View Details
    • Contact for pricing

      23000 Moakley St, Leonardtown, MD 20650

      Office Units
      23000 Moakley St, Leonardtown, MD 20650
      View Details
    • Contact for pricing

      Modern Flex Space in Leonardtown

      Immaculate property with customizable floor plans, high ceilings, ample parking.
      22645 Van Wert Ln, Leonardtown, MD 20650
      View Details
    • $2,574 /Mo

      Leonardtown Second-Floor Office Space

      Office space for lease near the Courthouse with private parking.
      41670 Courthouse Dr, Leonardtown, MD 20650
      View Details
    • $3,500 /Mo

      Leonardtown Office Space For Lease

      Second-floor office space in Leonardtown, across from the Courthouse.
      41610 Courthouse Dr, Leonardtown, MD 20650
      View Details
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    Leonardtown, MD 20650-3887
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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
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