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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Warehouses
1495 Appleton Rd, Elkton, MD 21921-2913
Entity Owned
2-yr Hold
Free & Clear
Property ID
US40-1491918
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1940
Construction
BRICK
Total area
12,512 SF
Lot
26.97 ac (1,174,813 SF)
Zoning code
SPLIT
APN
04-011899
UPID
US40-1491918
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Milburn Orchards Food Processing Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$913k
Blend (final)
Blend
$765k
Owner & transaction history
Milburn Farms LLC · 2 yrs held
Milburn Farms LLC
since 2024
2 recorded transactions
Zoning & alternative use
SPLIT · Elkton, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Elkton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$61 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,216
Tax year 2023
Assessed value
$741,200
Assessed 2023
Previous assessed
$726,700
+2.0% YoY
Effective rate
1.11%
On assessed value
Land market value
$172,400
Improvement market value
$597,800
Total market value
$770,200
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1940
Construction
BRICK
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
12,512 SF
Lot
26.97 ac (1,174,813 SF)
Zoning code
SPLIT
APN
04-011899
UPID
US40-1491918
Jurisdiction
CECIL
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
SPLIT · Elkton, MD
Zoning SPLIT · permitted uses
SPLIT · Elkton, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkton. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
BRICK
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
2
Lot
26.97 ac
Current owner
From public records · entity-resolved
Milburn Farms LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1495 APPLETON RD, ELKTON, MD 21921-2913
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2024
$145,000
Milburn Farms LLC
Melinda Milburn Palmeri
Personal Rep. Deed
—
Apr 9, 2019
—
Milburn Farms LLC
Milburn LP
Quit Claim Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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