405 Pulaski HwyElkton, MD 21921

Property Details for 405 Pulaski Hwy

Year built

2011

Construction

WOOD

Lot size

1.96 AC

Property size (Sq ft)

4,572 SF

Zone code

C2

Property type

Hospitality properties

Property subtype

Motels

APN

03-052850

APU

3052850

Description

This exceptional 5-acre corner parcel in Elkton, Maryland, presents a prime ground lease opportunity for an industrial, retail, or convenience store development. Ideally situated at 405 W Pulaski Hwy, this property boasts a highly visible location at a signalized intersection, ensuring maximum exposure to a substantial daily traffic volume exceeding 36,000 vehicles. The land's classification includes Industrial, IOS (Island of Service), Gas Station, and C-Store designations, offering considerable flexibility for a variety of commercial uses. The single-tenancy nature of the property simplifies development and management. The lot size falls within the 1-5 acre range, making it suitable for a range of projects. This strategic location in the Elkton submarket provides excellent access to major transportation routes and a strong customer base. The high traffic counts and prominent corner location make this an unparalleled opportunity for businesses seeking significant visibility and accessibility. This is a rare chance to secure a substantial parcel of land in a thriving commercial area, ready for immediate development. The property is offered as a ground lease, providing a flexible and potentially cost-effective entry point for the right tenant. Interested parties should be prepared to present a detailed development plan and financial proposal.

• CAP approach

  CAP return

  Valuation

  6%

  $1,920,351

  6.5%

  $1,772,632

  7%

  $1,646,015

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,972,051

  Geo Method

  $1,403,837

• Alternative Use

  Use

  Valuation

  Residential

  $1,935,199

  Hospitality

  $1,772,632

  Educational

  $1,474,809

  Medical

  $1,525,530

  Retail

  $2,294,147

Location Insight

City

Elkton

County

Cecil

State

Maryland

Latitude

39.5991

Longitude

-75.8132

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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