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    Property profile & analytics

    223 Main St W Elkton, MD 21921

    • Investment properties
    • 2,916 SF
    • 0.18 lot acres
    For Sale
    View listing
    $329,000
    Value Estimation
    Location Intelligence
    Property ID
    US40-0046604
    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

    • Jui-Chih Hsu Retired Md / Family Practice Physician
    • Dr. Hongxie Shen, MD / Family Practice Physician
    • The Will Davis Law Firm P.C. / Legal Services
    • Juichih Hsu / Family Practice Physician
    • On Our Own Of Cecil County, Inc / Non-Profit Organization

    Property Details for 223 Main St W

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.18 lot acres
    Property size
    2,916 SF
    Zone code
    RO
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    03-076008
    APU
    3076008

    Description

    This exceptional 5,134 square foot office building, situated in Elkton's Historic District at 223 Main Street West, presents a unique investment opportunity. The property boasts a prime location and offers significant potential for a variety of commercial uses. The building itself features 4,558 square feet above ground, providing ample space for operations. Inside, you'll find two full bathrooms and two half bathrooms, catering to the needs of staff and clients. Heating is provided by an oil-fired radiator system, supplemented by two air conditioning units ensuring year-round comfort. A significant advantage is the inclusion of a detached three-car garage, offering secure storage or additional workspace. Furthermore, a substantial parking lot is located at the rear of the building, ensuring convenient parking for employees and visitors. Adding to the property's appeal is an additional 0.15-acre lot, adjacent to the main property, which is available for purchase and can be utilized for either commercial expansion or residential development, subject to local zoning regulations. The 0.33-acre main lot provides ample space for the existing building and its associated parking. This property represents a rare blend of historical charm and modern functionality in a highly desirable location. The building's size, amenities, and additional land offer considerable flexibility for future development and growth.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $270,000

    • CAP approach

      CAP return
      Estimation
      6%
      $245,000
      6.5%
      $210,000
      7%
      $225,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $240,000
      Geo Method
      $240,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $215,000
      Retail
      $205,000
      Mixed-Use
      $225,000
      Hospitality
      $270,000
      Educational
      $215,000
      Residential Income
      $235,000
      Energy
      $260,000
      Income-Based Land
      $205,000
      Food Service
      $200,000

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8243
    Latitude
    39.6101
    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
    $2,556
    $86,800
    $60,100
    $146,900
    -
    $86,800
    $60,100
    $146,900

    Comparable in this City

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      1,650 SF

      609 Pulaski Hwy

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    • Value Estimation by Request
      1,664 SF

      942 Pulaski Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 1,664 SF
      942 Pulaski Hwy, Elkton, MD 21921-4705
      View Details

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    223 Main St W
    Elkton, MD 21921
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    Realmo Value Estimation

    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.

    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.

    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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