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    Property profile & analytics

    291 Pulaski Hwy Elkton, MD 21921-6433

    • Motels
    • 10,488 SF
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1099033
    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

    • New Eastern Inn / Motel / Lodging
    • Larton's Cleaning Service,LLC / House Cleaning Service

    Property Details for 291 Pulaski Hwy

    Year built
    1985
    Construction
    BRICK
    Lot size
    0.69 lot acres
    Property size
    10,488 SF
    Zone code
    C2
    Property type
    Motels
    APN
    03-082180
    APU
    3082180

    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
    -75.8208
    Latitude
    39.5989
    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
    $10,673
    $0.00
    $0.00
    $613,400
    -
    $405,000
    $213,100
    $618,100

    Comparable in this City

    • Value Estimation
      $800,000
      4,908 SF

      1974 Pulaski Hwy

      MOTEL • 4,908 SF
      1974 Pulaski Hwy, Elkton, MD 21921-4653
      View Details
    • Value Estimation by Request
      6,116 SF

      615 Pulaski Hwy

      MOTEL • 6,116 SF
      615 Pulaski Hwy, Elkton, MD 21921-6021
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    • Value Estimation by Request
      12,463 SF

      200 Belle Hl Rd

      MOTEL • 12,463 SF
      200 Belle Hl Rd, Elkton, MD 21921-5042
      View Details
    • Value Estimation by Request
      31,968 SF

      223 Belle Hl Rd

      MOTEL • 31,968 SF
      223 Belle Hl Rd, Elkton, MD 21921-5039
      View Details
    • Value Estimation
      $390,000
      4,572 SF

      405 Pulaski Hwy

      MOTEL • 4,572 SF
      405 Pulaski Hwy, Elkton, MD 21921-6019
      View Details
    • Value Estimation
      $400,000
      6,920 SF

      101 Main St

      HOTEL • 6,920 SF
      101 Main St, Elkton, MD 21921-5508
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,000 SF

      Land for Sale or Lease

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    • $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
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      0.08 Acres

      Elkton Business Space: Prime Location

      Versatile 3,338 sq ft space, ample parking.
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    • $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
    • $42,000
      1,100 SF

      2007 Mobile Home for Sale

      Like-new, updated 3 bed, 2 bath mobile home for sale.
      28 Saint Michaels Ct, Elkton, MD 21921
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    • $247,900
      1,584 SF

      Updated Townhome with Finished Basement

      End-unit townhome with updates, finished basement, and fenced yard.
      18 Thyme St, Elkton, MD 21921
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,900 SF

      Elkton Crossing Retail Spaces

      Prime Elkton, MD Retail Opportunity
      985 Pulaski Hwy, 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
    • Contact for pricing
      2,000 SF

      Retail Space on Railroad Ave

      Retail space available at a signalized intersection in Elkton.
      321 Railroad Ave, Elkton, MD 21921
      View Details
    • Contact for pricing
      3,350 SF

      Restaurant Space with Drive-Thru

      Second-generation restaurant space with drive-thru in Elkton, Maryland.
      881 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • $2,000 /Mo
      1,900 SF

      Downtown Retail Space For Rent

      1900 SF retail space in thriving downtown area.
      120 W Main St, Elkton, MD 21921
      View Details
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    291 Pulaski Hwy
    Elkton, MD 21921-6433
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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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