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    349 E Pulaski Hwy Elkton, MD 21921
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    Property profile & analytics

    349 E Pulaski Hwy Elkton, MD 21921

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    • Office buildings
    • 7,170 SF
    • 1.20 lot acres
    For Lease
    $800/Mo
    View Listing →
    Elkton MD Private Office Suite For Lease
    $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 Listing
    Property ID
    US40-0030172
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stacie L. Stephenson, DPT / Physician
    • Dr. Renee L. Perkis, MD / Pediatrician / Physician
    • Beltone Hearing Aid Center / Physician
    • The IMA Group / Occupational Health Service / Medical Examiner
    • Guild Mortgage - Laura L Italien / Consultant / Mortgage Lender

    Property Details for 349 E Pulaski Hwy

    Year built
    1988
    Construction
    BRICK
    Lot size
    1.20 lot acres
    Property size
    7,170 SF
    Zone code
    C2
    Property type
    Office buildings
    APN
    03-084493
    APU
    3084493

    Description

    This exceptional 2,150 square foot office space, located at 349 E Pulaski Hwy in Elkton, Maryland, presents a unique opportunity. Situated in Cecil County, this single-tenant property boasts a prime location directly on Route 40, ensuring excellent visibility and easy accessibility. The building, a Class C office space, totals 7,170 square feet and was originally constructed in 1988, undergoing a complete renovation in 2024. The property features ample parking, though the exact number of spaces is described as "frontage," indicating ample availability. The space is zoned C2 and is ideally suited for medical or executive office uses. With its recent renovation, this property offers modern amenities and a fresh, updated aesthetic. The convenient location near the Delaware state line provides easy access to a broader market. The 2,150 square feet of vacant space is ready for immediate occupancy. This property offers a compelling combination of location, accessibility, and modern updates, making it an attractive option for businesses seeking a high-visibility presence in Elkton, Maryland. The zip code is 21921.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,913,000
      Market price range: $896k - $2.30M
      AI Estimate
      $1,456,000
      Market price range: $586k - $1.57M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,390,000
      Current use
      RETAIL STORES
      $1,365,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8159
    Latitude
    39.5987
    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
    $23,638
    $0.00
    $0.00
    $1,358,500
    -
    $690,500
    $668,600
    $1,359,100

    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 by Request
      3,428 SF

      153 Main St

      OFFICE BUILDING • 3,428 SF
      153 Main St, Elkton, MD 21921-5917
      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

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      0.23 Acres

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      Elkton Office Building - Main Street

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    Similar Nearby for Lease

    • $3,502 /Mo

      Elkton Retail/Office Suites Available

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      Elkton Medical Office Space Available

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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
    • Contact for pricing

      Warehouse, Office, and R&D Space

      46,200 SF flex space in Elkton, MD for lease.
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    • Contact for pricing

      Retail/Office Space in Elkton, MD

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      View Details
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    Elkton, MD 21921
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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.

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    349 E Pulaski Hwy, Elkton, MD, 21921
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