Renovated Flex/Office
203 N Bridge St Elkton, MD 21921
203 N Bridge St, Elkton, MD, 21921
Contact for pricing
For Sale
Contact for pricing
Renovated in 2022 with Class A office finishes, new exterior upgrades, and overhead garage doors.
Property Size12,500 SF
Price / SF$176
Days on Market166
Property Features for 203 N Bridge St
General Information
- Standard status
- Active
- Size
- 12,500 SF
- Property subtype
- Retail, Office, Industrial
Listing agency
SB Real Estate
(302) 275-5566
Listed by
Jonathan McConomy · License #5006631
Source
Crexi
Added: Feb 5 Updated: Jul 21 at 3:37AM Checked: Jul 21 at 3:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SB Real Estate
Investment Insights
Based on property information with market context.
This renovated commercial building offers a flexible mix of office and warehouse-style space. The interior office areas were renovated to Class A level, including hardwood flooring, updated restrooms, glass-walled offices, and a large modern meeting space with a stage. A kitchen with a bar area and new LED lighting run throughout the office improvements.
Exterior renovations completed in 2022 include new windows, overhead (OH) doors, aluminum siding, roof work, and updated entry ways. The property is described as having a wide variety of permissible uses under the Town Center zoning. The building is offered for sale or lease and is located in downtown Elkton, Maryland.
Exterior renovations completed in 2022 include new windows, overhead (OH) doors, aluminum siding, roof work, and updated entry ways. The property is described as having a wide variety of permissible uses under the Town Center zoning. The building is offered for sale or lease and is located in downtown Elkton, Maryland.
Key Highlights
- Renovated in 2022 with Class A office finishes and all‑new LED lighting throughout
- Interior office updates include hardwood flooring, kitchen with bar area, restrooms, and glass‑walled offices
- Large modern meeting space with a stage
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $307.5k | $24.60 |
| − Vacancy | −$52.9k | −$4.23 |
| EGI | $254.6k | $20.37 |
| − OpEx | −$63.7k | −$5.09 |
| NOI | $191.0k | $15.28 |
12,500 SF · lease $24.60/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.18M
NOI $190,958 @ 7.0% cap · market cap 8.68%
Second Best
Flex RnD
$2.34M
$2.05M – $2.73M
NOI $163,898 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$4.64M
$4.06M – $5.41M
NOI $324,496 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cecil County Chamber-Commerce
Business Service Center
ProWay Garage Doors
Building Supply
Similar For Sale Nearby
Similar Off Market Nearby
- George's Roasting Services — Elkton, MD 21921
- Chef On the Run — 5 Commercial Plaza, Elkton, MD 21921
FAQs
What type of property is this?
Flex space - Renovated in 2022 with Class A office finishes, new exterior upgrades, and overhead garage doors.
Where is this flex space located?
The property is located at 203 N Bridge St Elkton, MD.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Renovated in 2022 with Class A office finishes and all‑new LED lighting throughout; Interior office updates include hardwood flooring, kitchen with bar area, restrooms, and glass‑walled offices; Large modern meeting space with a stage
