223 Main St W Elkton, MD 21921
For Sale
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This exceptional 5,134 square foot office building, situated in Elkton's Historic District at 223 Main Street West, presents a unique investment opportunity. The property boasts a prime location and offers significant potential for a variety of commercial uses. The building itself features 4,558 square feet above ground, providing ample space for operations. Inside, you'll find two full bathrooms and two half bathrooms, catering to the needs of staff and clients. Heating is provided by an oil-fired radiator system, supplemented by two air conditioning units ensuring year-round comfort. A significant advantage is the inclusion of a detached three-car garage, offering secure storage or additional workspace. Furthermore, a substantial parking lot is located at the rear of the building, ensuring convenient parking for employees and visitors. Adding to the property's appeal is an additional 0.15-acre lot, adjacent to the main property, which is available for purchase and can be utilized for either commercial expansion or residential development, subject to local zoning regulations. The 0.33-acre main lot provides ample space for the existing building and its associated parking. This property represents a rare blend of historical charm and modern functionality in a highly desirable location. The building's size, amenities, and additional land offer considerable flexibility for future development and growth.
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Jui-Chih Hsu Retired Md Pediatrician Physician
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Dr. Hongxie Shen, MD Pediatrician Physician
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The Will Davis Law Firm P.C. Law Firm
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Juichih Hsu Pediatrician Physician
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On Our Own Of Cecil County, Inc Charitable Organization Social Service Agency
The purpose of this district is to provide for a mixture of residential uses and business uses that are not unduly disruptive of high density residential areas located in the same district. Generally this district covers the mixed use areas bordering the commercial center of the Town.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
RO · Elkton, MDThe purpose of this district is to provide for a mixture of residential uses and business uses that are not unduly disruptive of high density residential areas located in the same district. Generally this district covers the mixed use areas bordering the commercial center of the Town.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
