Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    162 W Main St Elkton, MD 21921

    Sponsored
    For Sale
    $375,000

    MULTI_FAMILY - Colonial - ELKTON, MD

    Property size:
    3,265 SF
    Lot size:
    0.17 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 19 at 12:06 pm

    Property Features for 162 W Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    Parking features
    Off Street
    Size
    3,265 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Hot Water(Heating)

    Building Details

    Year built
    1935
    Number of units
    4
    Building materials
    Vinyl Siding
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Gina McCollum Crowder

    RE/MAX Associates (302) 234-3800 [email protected]

    Listing agent Gina McCollum Crowder (302) 234-3800

    Listing date Jan 7, 2026

    MLS# MDCC2020030 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Four-Unit Building in Elkton, MD

    This four-unit building is located in a premier location on W. Main St. in Elkton, Maryland, directly across from the post office and surrounded by other commercial establishments. The property features two two-bedroom units, a three-bedroom unit, and a commercial office space with a full bath and a small sink area. The building is suitable for both residential and business ventures. The property includes a large yard, an outside entrance to the basement for storage, and separate utility units. The roof is seven years old. Two of the units are currently occupied and generating rental income. The property size is 3265 square feet and the lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.83249
    Latitude
    39.60663

    Nearby Similar for Sale

    • $329,000
      0.33 Acres

      Former Medical Office in Elkton

      Commercial property with detached garage and additional lot for sale.
      223 Main St W, Elkton, MD 21921
      View Details
    • $1,125,000
      31.71 Acres

      Income-Producing Ranch Homes with Land

      Three brick ranch homes on 31.71 acres with income potential.
      40 Mimosa Ln, Elkton, MD 21921
      View Details
    • $699,990

      Medical Center Building with Solar

      Medical or professional office building near Weaver's Discount Mart.
      1771 W Pulaski Hwy, Elkton, MD 21921
      View Details
    • $247,900
      1,584 SF

      Updated Townhome with Finished Basement

      End-unit townhome with updates, finished basement, and fenced yard.
      18 Thyme St, Elkton, MD 21921
      View Details
    • $290,000

      West Creek Village Townhome

      6-year-old townhome near shopping, entertainment, and highways.
      112 Azalea Cir, Elkton, MD 21921
      View Details
    • $205,000

      Elkton Townhouse with Fenced Yard

      Well-maintained 2-bedroom townhouse near Delaware line, ideal for various buyers.
      25 Hatteras Ct, Elkton, MD 21921
      View Details
    • $559,000

      Downtown Elkton Commercial Office Building

      Three-story office building in Elkton's Central Business District.
      103 Court House Plz, Elkton, MD 21921
      View Details
    • $300,000

      Elkton Duplex with Income Potential

      Duplex in Elkton with two units and off-street parking.
      223-225 W High St, Elkton, MD 21921
      View Details
    • $310,000

      Office Building Near Courts

      Office building with recent updates near the Circuit and District Courts.
      212 E Main St, Elkton, MD 21921
      View Details
    • $350,000

      Elkton Triplex Investment Opportunity

      Three units, separately metered, with recent HVAC and roof.
      228 E Main St, Elkton, MD 21921
      View Details
    • $42,000
      1,100 SF

      2007 Mobile Home for Sale

      Like-new, updated 3 bed, 2 bath mobile home for sale.
      28 Saint Michaels Ct, Elkton, MD 21921
      View Details
    • Contact for pricing
      5,672 SF

      Former Restaurant Building on Highway

      5,672 SF restaurant building on 1.34 acres for sale.
      312 E Pulaski Hwy, Elkton, MD 21921
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit building with commercial space in a prime location.
    Where is this quadplex located?
    The property is located at 162 W Main St Elkton, MD.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: - Four-unit building in a prime location on W. Main St. in Elkton, offering high visibility and access.; - Versatile property with two 2-bedroom units, one 3-bedroom unit, and a commercial office space with a full bath.; - Two units are currently occupied and generating rental income, providing immediate cash flow.
    (302) 234-3800
    Request Owner's contact information
    162 W Main St Elkton, MD 21921
    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.
    162 W Main St
    Elkton, MD 21921
    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
    162 W Main St Elkton, MD 21921
    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!
    Listing Contact
    Gina McCollum Crowder
    (302) 234-3800
    Learn more
    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.