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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    153 Main St Elkton, MD 21921-5917

    • Office buildings
    • 3,428 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Jun 10, 2024
    $226,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1388936
    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.

    Current Use by Public Records

    • Emrey III Jay C / Attorney
    • Downs, Beste & Blackson, LLC / Legal Services
    • Baker Thomey & Emrey P.A. / Personal Injury Attorney

    Property Details for 153 Main St

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.26 lot acres
    Property size
    3,428 SF
    Zone code
    RO
    Property type
    Office buildings
    APN
    03-036812
    APU
    3036812

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8271
    Latitude
    39.6093
    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
    $4,239
    $99,900
    $143,700
    $243,600
    -
    $99,900
    $143,700
    $243,600

    Comparable in this City

    • Value Estimation
      $4,880,000
      23,330 SF

      101 Lewisville Rd

      OFFICE BUILDING • 23,330 SF
      101 Lewisville Rd, Elkton, MD 21921-2182
      View Details
    • Value Estimation by Request
      720 SF

      411 Pulaski Hwy

      OFFICE BUILDING • 720 SF
      411 Pulaski Hwy, Elkton, MD 21921-5218
      View Details
    • Value Estimation
      $3,020,000
      11,200 SF

      201 Chesapeake Blvd

      OFFICE BUILDING • 11,200 SF
      201 Chesapeake Blvd, Elkton, MD 21921-6384
      View Details
    • Value Estimation
      $1,860,000
      18,000 SF

      216 Pulaski Hwy

      OFFICE BUILDING • 18,000 SF
      216 Pulaski Hwy, Elkton, MD 21921-6497
      View Details
    • Value Estimation
      $1,035,000
      3,920 SF

      65 Raintree Dr

      OFFICE BUILDING • 3,920 SF
      65 Raintree Dr, Elkton, MD 21921-2400
      View Details
    • Value Estimation by Request
      2,112 SF

      716 Brg St

      OFFICE BUILDING • 2,112 SF
      716 Brg St, Elkton, MD 21921-5310
      View Details

    Similar Nearby for Sale

    • $310,000

      Office Building Near Courts

      Office building with recent updates near the Circuit and District Courts.
      212 E Main St, Elkton, MD 21921
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    • $559,000

      Downtown Elkton Commercial Office Building

      Three-story office building in Elkton's Central Business District.
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    • $329,000
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      Elkton Office Building - Main Street

      Historic District Office, Ample Parking
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    • $329,000
      0.33 Acres

      Former Medical Office in Elkton

      Commercial property with detached garage and additional lot for sale.
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    • $310,000

      Main Street Office Building For Sale

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    • $699,990

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    Similar Nearby for Lease

    • $12,415 /Mo
      11,919 SF

      Elkton Office Building For Lease

      Freestanding office building in Triumph Industrial Park, Cecil County, MD.
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      View Details
    • Contact for pricing
      18,624 SF

      Prime Elkton Office Suites

      Two Executive Suites Available, 2,172-2,200 SF
      677 Pulaski Hwy, Elkton, MD 21921
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    • $800 /Mo
      11,905 SF

      Elkton MD Private Office Suite

      Private office suite in Elkton, MD with easy access.
      349 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • $18 SF/Yr
      2,150 SF

      Renovated Office Space on Rte 40

      2,150 SF renovated office space with excellent frontage and visibility.
      349 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • $12 SF/Yr
      850 SF

      Professional Office Space Available

      Office spaces in Elkton's growing downtown business community.
      106 E Main St, Elkton, MD 21921
      View Details
    • $700 /Mo
      7,434 SF

      Elkton Office and Garage Space

      Office suite and garage bays available for lease in Elkton.
      123 N Bridge St, Elkton, MD 21921
      View Details
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    153 Main St
    Elkton, MD 21921-5917
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    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
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