Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    14 Commercial Plz Elkton, MD 21921
    Back to Search
    Property profile & analytics

    14 Commercial Plz, Elkton, MD 21921

    View on Map
    • Retail space
    • 1,379 SF
    • 5.26 lot acres
    For Lease
    $500/Mo
    View Listing →
    Elkton MD Office Space Lease For Lease
    $500/Mo
    21,900 SF

    Elkton MD Office Space Lease

    Small office space in a busy Elkton strip mall.

    14 COMMERCIAL PLAZA, Elkton, MD 21921
    View Listing
    Property ID
    US40-2229882
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ms. Hi Candles & Suds LLC / Home Decor Store
    • CAIRO Market Middle Eastern & Turkish / Grocery & Convenience Store / Food Market
    • Ellarosesboutique LLC / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store
    • Manila Street Treats / Restaurant
    • Taste Of Philly / Bar & Pub

    Property Details for 14 Commercial Plz

    Year built
    1980
    Construction
    BRICK
    Lot size
    5.26 lot acres
    Zone code
    C2
    Property type
    Retail space
    APN
    03-052362
    APU
    3052362

    Description

    This exceptional investment opportunity presents a thriving retail center strategically located at 14 Commercial Plaza, Elkton, MD, at the high-traffic intersection of Routes 213 and 40, boasting a daily traffic count of 17,991 vehicles (2022 data). The property encompasses a substantial 41,879 square feet on a 5.26-acre lot and comprises four distinct structures: a strip center, a mini-storage facility, a large building (formerly a grocery store), and a smaller detached building (previously a bank). Currently, the center houses ten retail spaces, including two restaurants, and a separate building containing 42 mini-storage units. Significant renovations have been undertaken in recent years, enhancing the property's value and appeal. These improvements include: complete HVAC, wall, plumbing, bathroom, flooring, ceiling, and electrical upgrades in unit #6

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8298
    Latitude
    39.605
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $20,965
    $655,100
    $549,800
    $1,204,900
    -
    $655,100
    $549,800
    $1,204,900

    Comparable in this City

    • Value Estimation
      $2,540,000
      24,462 SF

      901 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      901 Pulaski Hwy, Elkton, MD 21921-6357
      View Details
    • Value Estimation by Request
      1,820 SF

      213 Lndg Ln

      RETAIL STORES (PERSONAL SERVICES)
      213 Lndg Ln, Elkton, MD 21921-5249
      View Details
    • Value Estimation by Request
      1,500 SF

      606 Lewisville Rd

      RETAIL STORES (PERSONAL SERVICES)
      606 Lewisville Rd, Elkton, MD 21921-1920
      View Details
    • Value Estimation
      $670,000
      2,613 SF

      1939 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      1939 Pulaski Hwy, Elkton, MD 21921-4614
      View Details
    • Value Estimation by Request
      1,688 SF

      1750 Appleton Rd

      RETAIL STORES (PERSONAL SERVICES)
      1750 Appleton Rd, Elkton, MD 21921-2904
      View Details
    • Value Estimation by Request
      1,280 SF

      879 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES)
      879 Pulaski Hwy, Elkton, MD 21921-4713
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Land for Sale or Lease

      Three pads available for sale or lease off I-95.
      Belle Hill Rd, Elkton, MD 21921
      View Details
    • Contact for pricing
      5,672 SF

      Former Restaurant Building on Highway

      5,672 SF restaurant building on 1.34 acres for sale.
      312 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • $159,000

      Commercial Property Near North East

      Commercial property suitable for business, contractors, or offices.
      790 E Old Philadelphia Rd, Elkton, MD 21921
      View Details
    • $299,000
      0.23 Acres

      Prime Elkton Retail Space

      High-traffic location, excellent visibility. Great investment opportunity.
      300 Pulaski Hwy, Elkton, MD 21921
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,856 SF

      Retail Space in Elkton, MD

      Retail spaces available in community shopping center on Pulaski Highway.
      114 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing

      Retail Spaces in Elkton Center

      Community shopping center with available inline and end-cap spaces.
      100 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing
      1,600 SF

      Retail Spaces in Elkton, MD

      Retail spaces available in community shopping center with high visibility.
      116-128 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing
      2,172 SF

      Retail Space Available For Lease

      2,172 SF retail space for lease in Elkton, MD.
      701 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Railroad Ave

      Retail space available at a signalized intersection in Elkton.
      321 Railroad Ave, Elkton, MD 21921
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space Near Cecil College

      Retail spaces available in growing area near Cecil College.
      985-1001 E Pulaski Hwy, Elkton, MD 21921
      View Details
    View Listing
    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.
    14 Commercial Plz
    Elkton, MD 21921
    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

    Thank You for Inquiry
    14 Commercial Plz, Elkton, MD, 21921
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!