Mixed-Use Property with
New
For Sale
$1,100,000
41 CHERRY HILL ROAD, Elkton, MD 21921
BI-zoned space combines restaurant infrastructure with warehouse and production areas.
Property Size4,776 SF
Lot Size0.73 Acres
Price / SF$230.32
Days on Market3
Property Features for 41 CHERRY HILL ROAD
General Information
Standard status
Active
Size
4,776 SF
Total Parking Spaces
20
Lot size
0.73 Acres
Property subtype
Commercial
Zoning
BI
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Cold Storage
Yes
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Building Details
Year Built
2018
Buildings
1
Building Size
4,776 SF
Listing Agency:
Integrity Real Estate
(410) 287-8080
Listed By:
Mark Saunders · License #644704
(443) 309-0161
Source:
Cummingsrealtors
Added: Oct 4
Changed: Oct 6
Last Checked: Oct 5 at 4:56PM
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 Integrity Real Estate
Investment Insights
Based on property information with market context.
Set on 0.73 acre, this 4,776-square-foot mixed-use commercial building has a front dining and bar area with vaulted ceilings, a commercial kitchen, hood system, food-preparation space and walk-in cooler area. The rear section provides warehouse and production space with multiple overhead doors and exterior access. An upper-level mezzanine adds storage or flex space. Built in 2018, the property has metal roofing and siding, a wet sprinkler system, 480V three-phase power, and public water and sewer. The electrical setup includes a 10 kW transformer feeding a 208V panel, along with three electrical panels.
The property is on Route 213 in Elkton, near the Fair Hill area, and includes approximately 20 parking spaces. BI - Business Intensive zoning applies. The existing layout includes separate areas for dining, food preparation, production and storage.
The property is on Route 213 in Elkton, near the Fair Hill area, and includes approximately 20 parking spaces. BI - Business Intensive zoning applies. The existing layout includes separate areas for dining, food preparation, production and storage.
Key Highlights
- 4,776 SF building on 0.73 acre
- Restaurant and bar area, commercial kitchen, hood system and walk‑in cooler space
- Rear warehouse and production area with multiple overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,733
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,674,660
$1.7M
Cap Rate 7%
$1,196,186
$1.2M
Cap Rate 9%
$930,367
$930.4K
Market Conditions
NOI Build-Up for 4,776 SF
Gross rent
$114.6K $24.00/SF
− Vacancy
−$3.0K −$0.62/SF
EGI
$111.6K $23.38/SF
− OpEx
−$27.9K −$5.84/SF
NOI
$83.7K $17.53/SF
Area
Cecil County, MD
Vacancy
2.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,674,660
Cap Rate 7%
$1,196,186
Cap Rate 9%
$930,367
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,733 @ 7.0% cap · market cap 7.61%
Second Best
Mixed Use
$850.8K
$744.4K – $992.6K
NOI $59,553 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $123,983 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 21921, MD
44,983
Population
18,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
92%
High-School Grad
94.7 sq mi
ZIP Area
475
Density / Sq Mi
$84,608
Median Household Income
$48,300
Median Earnings
$1,413
Median Rent
$296,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - BI-zoned space combines restaurant infrastructure with warehouse and production areas.
Where is this mixed-use property located?
The property is located at 41 CHERRY HILL ROAD Elkton, MD.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,776 SF building on 0.73 acre; Restaurant and bar area, commercial kitchen, hood system and walk‑in cooler space; Rear warehouse and production area with multiple overhead doors
