Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    228 S Bridge St Elkton, MD 21921

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    1,975 SF retail space available now in Elkton, MD.

    Type:Retail
    Property size:
    1,975 SF
    Added:
    May 28, 2024
    Days on Market:
    686
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 228 S Bridge St

    General Information

    Standard status
    Active
    Size
    1,975 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1972

    Spaces For Lease

    at 228 S Bridge St Contact us

    Suite 228 $17 /Mo

    Size
    1,975 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Jeff Sellers

    Listing agent Jeff Sellers License #DE RS0023229

    Listing office SB Real Estate

    Listing date May 28, 2024

    Source Crexi

    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

    Overview

    Retail Space Available for Lease

    This 1,975 square foot retail space is available for lease. Formerly occupied by Fresh Source Farms, who relocated to a larger space, Suite 228 is in excellent condition, having been completely renovated two years ago. The space includes a water filtration system with several hookups, a three-compartment sink, a safety eyewash station, LED lighting, and camera wiring with connections for four cameras. The retail shopping center is located on 224 S Bridge St in Elkton, MD, offering high visibility. A new bakery is preparing for its grand opening in the same center. This is the last remaining retail suite available for lease.
    Location Intelligence

    Current Use by Public Records

    Amazon Counter - Fresh ... Courier Service Fresh Source Farms, ... Specialty Food Shop Fresh Source Market Specialty Food Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.829576
    Latitude
    39.6023963

    Nearby Similar for Lease

    • $12/mo

      Retail/Restaurant Space on Main Street

      3,700 SF retail/restaurant space with outdoor deck in growing town.
      132 W Main St, Elkton, MD, Elkton, MD 21921
      View Details
    • Contact for pricing

      Elkton MD Private Office Suite

      Private office suite in Elkton, MD with easy access.
      349 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing

      Elkton Retail/Office Suites Available

      Retail/office suites in Alexandra Village shopping center, Elkton, MD.
      677 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing

      Elkton Office and Garage Space

      Office suite and garage bays available for lease in Elkton.
      123 N Bridge St, Elkton, MD, Elkton, MD 21921
      View Details
    • $18/mo

      Retail Spaces in Elkton, MD

      Retail spaces available in community shopping center with high visibility.
      116-128 E Pulaski Hwy, Elkton, MD
      View Details
    • $17/mo

      Retail Space in Excellent Condition

      1,975 SF retail space available now in Elkton, MD.
      224-236 S Bridge St, Elkton, MD 21921
      View Details
    • $7/mo

      Elkton Flex Space with Overhead Doors

      Flex space suitable for contractors or equipment storage with great visibility.
      3493 Blue Ball Rd, Elkton, MD 21921
      View Details
    • $12/mo

      Elkton Office Space Available

      Third-floor office space in Elkton, MD, near Christiana Care.
      133 North Bridge St, Elkton, MD 21921
      View Details
    • Contact for pricing

      20,000 SF Metal Commercial Building

      Proposed 20,000 SF metal building for lease near Delaware line.
      5930 Telegraph Road, Elkton, MD 21921
      View Details
    • Contact for pricing

      Office and Garage Spaces Available

      Office and garage spaces for lease in Elkton, MD.
      121 Bridge St, Elkton, MD
      View Details
    • Contact for pricing

      Dominant Retail Destination in Elkton

      Retail and restaurant spaces available in Big Elk Shopping Centre.
      157 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing

      Warehouse, Office, and R&D Space

      46,200 SF flex space in Elkton, MD for lease.
      505 Blue Ball Road, Elkton, MD, 21921
      View Details

    FAQs

    What type of property is this?
    Retail space - 1,975 SF retail space available now in Elkton, MD.
    Where is this retail space located?
    The property is located at 228 S Bridge St Elkton, MD.
    What are key features of this property?
    This property features: Available Now: 1,975 SF of retail space ready for your business.; Recently Renovated: This space is in excellent condition, completely renovated two years ago.; Water Filtration System: Includes a water filtration system with multiple hookups.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeff Sellers
    Real Estate License ID: DE RS0023229
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!