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

    285 Plum Pt Rd Elkton, MD 21921-0001

    • Warehouses
    • 32,043 SF
    • 7.85 lot acres
    OFF-MARKET
    Value Estimations
    $2,880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0254698
    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

    • UnWined on the water at Triton Marina / Beer Garden
    • Triton Marina / Boat Detailing Service / Boat Ramp
    • UnWined on the Water / Restaurant / Seafood Restaurant

    Property Details for 285 Plum Pt Rd

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    7.85 lot acres
    Property size
    32,043 SF
    Zone code
    MB
    Property type
    Warehouses
    APN
    05-044715
    APU
    5044715

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,340,000
      6.5%
      $3,085,000
      7%
      $2,860,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,318,000
      Market price range: $1.95M - $5.06M
      AI Estimate
      $2,237,000
      Market price range: $834k - $4.04M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,655,000
      Current use
      COMMERCIAL (GENERAL)
      $3,705,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8581
    Latitude
    39.5616
    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
    $29,818
    $745,600
    $1,948,900
    $2,694,500
    -
    $745,600
    $1,948,900
    $2,694,500

    Comparable in this City

    • Value Estimation
      $4,825,000
      38,400 SF

      1600 Pulaski Hwy

      WAREHOUSE, STORAGE • 38,400 SF
      1600 Pulaski Hwy, Elkton, MD 21921-4604
      View Details
    • Value Estimation
      $710,000
      5,000 SF

      70 Technology Dr

      WAREHOUSE, STORAGE • 5,000 SF
      70 Technology Dr, Elkton, MD 21921-4809
      View Details
    • Value Estimation by Request
      766,520 SF

      1000 Commerce Ctr Dr

      WAREHOUSE, STORAGE • 766,520 SF
      1000 Commerce Ctr Dr, Elkton, MD 21921-6070
      View Details
    • Value Estimation by Request
      756,122 SF

      515 Fletchwood Rd

      WAREHOUSE, STORAGE • 756,122 SF
      515 Fletchwood Rd, Elkton, MD 21921-4240
      View Details
    • Value Estimation by Request
      7,705 SF

      175 Deaver Rd

      WAREHOUSE, STORAGE • 7,705 SF
      175 Deaver Rd, Elkton, MD 21921-4402
      View Details
    • Value Estimation by Request
      1,000 SF

      Blue Ball Rd

      MINI-WAREHOUSE, STORAGE • 1,000 SF
      Blue Ball Rd, Elkton, MD 21921
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,950 SF

      Elkton Warehouse: 22,950 SF

      Class A warehouse, I-95 frontage, build-to-suit.
      400 Belle Hill Rd, Elkton, MD 21921
      View Details
    • $1,400,000
      13,300 SF

      Heavy Industrial Site with Rentals

      Large industrial yard with multiple buildings and residential units.
      315 Johnstown Rd, Elkton, MD 21921
      View Details
    • $2,000,000
      25,800 SF

      Former Bowling Alley For Sale

      25,800 SF former bowling alley suitable for redevelopment.
      406 Bow St, Elkton, MD 21921
      View Details
    • $1,500,000
      2.00 Acres

      Elkton Commercial Land - $1.5M

      Prime 2-acre commercial pad site near I-95.
      1584 Elkton Rd, Elkton, MD 21921
      View Details
    • Contact for pricing
      0.08 Acres

      Elkton Business Space: Prime Location

      Versatile 3,338 sq ft space, ample parking.
      308 North St, Elkton, MD 21921
      View Details
    • $649,900
      1.38 Acres

      Vacant Lot in Elkton, MD

      Vacant 1.38 acre lot zoned BG in Elkton, Maryland.
      E Pulaski Hwy, Elkton, MD 21921
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      40,000 SF

      Blue Ball Rd Industrial Space

      Elkton, MD flex warehouse space available.
      3493 Blue Ball Rd, Elkton, MD 21921
      View Details
    • Contact for pricing
      64,800 SF

      Class A Warehouse Space

      10,800 SF Class A warehouse space for lease.
      400 Belle Hill Rd, Elkton, MD 21921
      View Details
    • $8 SF/Yr
      29,260 SF

      Industrial Manufacturing Facility For Sublease

      29,260 SF industrial manufacturing facility available for sublease.
      505 Blue Ball Rd, Elkton, MD 21921
      View Details
    • Contact for pricing

      Elkton Distribution/Warehouse Space Available

      Distribution and warehouse space available for rent in Elkton, MD.
      2000 Commerce Center Dr, Elkton, MD 21921
      View Details
    • $5,000 /Mo
      6,000 SF

      6,000 SF Warehouse Space

      Warehouse space featuring three overhead doors and paved parking.
      150 Williams St, Elkton, MD 21921
      View Details
    • $6,250 /Mo
      5,000 SF

      Elkton Warehouse with Bay Doors

      5,000 SF warehouse with office and bay doors.
      875 W Pulaski Hwy, Elkton, MD 21921
      View Details
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    285 Plum Pt Rd
    Elkton, MD 21921-0001
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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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