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

    155 Main St Elkton, MD 21921-5942

    • Office buildings
    • 3,216 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    May 27, 2022
    $525,000
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1105784
    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

    • Psychotherapy & Counseling Center: Benson Rebecca L / Family Counselor
    • Sherrard Title Co LLC / Title Company

    Property Details for 155 Main St

    Year built
    1850
    Construction
    BRICK
    Lot size
    0.15 lot acres
    Property size
    3,216 SF
    Zone code
    RO
    Property type
    Office buildings
    APN
    03-051765
    APU
    3051765

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $515,000
      ML approach
      $520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $401,000
      Market price range: $402k - $1.03M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $625,000
      Current use
      RETAIL STORES
      $610,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8269
    Latitude
    39.6094
    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
    $4,082
    $82,700
    $151,900
    $234,600
    -
    $82,700
    $151,900
    $234,600

    Comparable in this City

    • Value Estimation by Request
      1,088 SF

      1213 Warburton Rd

      OFFICE BUILDING • 1,088 SF
      1213 Warburton Rd, Elkton, MD 21921-3107
      View Details
    • Value Estimation
      $840,000
      4,780 SF

      112 Blue Ball Ave

      OFFICE BUILDING • 4,780 SF
      112 Blue Ball Ave, Elkton, MD 21921-5238
      View Details
    • Value Estimation
      $3,695,000
      28,769 SF

      201 Booth St

      OFFICE BUILDING • 28,769 SF
      201 Booth St, Elkton, MD 21921-5618
      View Details
    • Value Estimation by Request
      2,350 SF

      136 High St

      OFFICE BUILDING • 2,350 SF
      136 High St, Elkton, MD 21921-5527
      View Details
    • Value Estimation
      $755,000
      7,305 SF

      208 Nn St

      OFFICE BUILDING • 7,305 SF
      208 Nn St, Elkton, MD 21921-5513
      View Details
    • Value Estimation
      $595,000
      2,204 SF

      205 Main St

      OFFICE BUILDING • 2,204 SF
      205 Main St, Elkton, MD 21921-5779
      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
      View Details
    • $559,000

      Downtown Elkton Commercial Office Building

      Three-story office building in Elkton's Central Business District.
      103 Court House Plz, Elkton, MD 21921
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    • $329,000

      Former Medical Office in Elkton

      Former medical office with detached garage and additional lot.
      223 W Main St, Elkton, MD 21921
      View Details
    • $699,990

      Medical Center Building with Solar

      Medical or professional office building near Weaver's Discount Mart.
      1771 W Pulaski Hwy, Elkton, MD 21921
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    • $329,000
      5,134 SF

      Elkton Office Building - Main Street

      Historic District Office, Ample Parking
      223 Main St, Elkton, MD 21921
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    • $329,000
      0.33 Acres

      Former Medical Office in Elkton

      Commercial property with detached garage and additional lot for sale.
      223 Main St W, Elkton, MD 21921
      View Details

    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.
      505 Blue Ball Rd, Elkton, MD 21921
      View Details
    • $700 /Mo
      3,350 SF

      Office and Garage Spaces Available

      Office and garage spaces for lease in Elkton, MD.
      121 Bridge St, Elkton, MD 21921
      View Details
    • $1,750 /Mo
      2,000 SF

      Elkton Commercial Space For Lease

      2,000 SF commercial space available for lease immediately.
      55 Augustine Herman Hwy, 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
    • $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
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    155 Main St
    Elkton, MD 21921-5942
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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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