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    405 Pulaski Hwy Elkton, MD 21921-6019
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    Property profile & analytics

    405 Pulaski Hwy Elkton, MD 21921-6019

    View on Map
    • Motels
    • 4,572 SF
    • 1.96 lot acres
    Off-Market
    Property ID
    US40-1403808
    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
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sutton Inn / Hotel & Motel

    Property Details for 405 Pulaski Hwy

    Year built
    2011
    Construction
    WOOD
    Lot size
    1.96 lot acres
    Property size
    4,572 SF
    Zone code
    C2
    Property type
    Motels
    APN
    03-052850
    APU
    3052850

    Description

    This exceptional 5-acre corner parcel in Elkton, Maryland, presents a prime ground lease opportunity for an industrial, retail, or convenience store development. Ideally situated at 405 W Pulaski Hwy, this property boasts a highly visible location at a signalized intersection, ensuring maximum exposure to a substantial daily traffic volume exceeding 36,000 vehicles. The land's classification includes Industrial, IOS (Island of Service), Gas Station, and C-Store designations, offering considerable flexibility for a variety of commercial uses. The single-tenancy nature of the property simplifies development and management. The lot size falls within the 1-5 acre range, making it suitable for a range of projects. This strategic location in the Elkton submarket provides excellent access to major transportation routes and a strong customer base. The high traffic counts and prominent corner location make this an unparalleled opportunity for businesses seeking significant visibility and accessibility. This is a rare chance to secure a substantial parcel of land in a thriving commercial area, ready for immediate development. The property is offered as a ground lease, providing a flexible and potentially cost-effective entry point for the right tenant. Interested parties should be prepared to present a detailed development plan and financial proposal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $675,000
      COMMERCIAL (GENERAL)
      $590,000
      RETAIL STORES
      $565,000
      AUTO REPAIR, GARAGE
      $460,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    Cecil
    State
    Maryland
    Longitude
    -75.8132
    Latitude
    39.5991
    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
    $17,189
    $845,200
    $142,700
    $987,900
    -
    $845,200
    $142,700
    $987,900

    Comparable in this City

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      1974 Pulaski Hwy

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      View Details
    • Value Estimation by Request
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      12,463 SF

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      10,488 SF

      291 Pulaski Hwy

      MOTEL • 10,488 SF
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    • 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 by Request
      6,920 SF

      101 Main St

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

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      Elkton, MD Land For Sale

      2.09 acre commercial land available in Elkton, Maryland.
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    Similar Nearby for Lease

    • $3,502 /Mo

      Elkton Retail/Office Suites Available

      Retail/office suites in Alexandra Village shopping center, Elkton, MD.
      677 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • $12 SF/Yr
      10,746 SF

      Elkton Office Space Available

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      View Details
    • Contact for pricing

      Elkton Industrial Outdoor Storage Yard

      5.40 acre industrial yard with drive-thru warehouse for lease.
      1777 E Old Philadelphia Rd, Elkton, MD 21921
      View Details
    • $6,250 /Mo
      1,856 SF

      Retail Space in Elkton, MD

      Retail spaces available in community shopping center on Pulaski Highway.
      114 E Pulaski Hwy, Elkton, MD 21921
      View Details
    • Contact for pricing

      Retail Spaces in Elkton Center

      Community shopping center with available inline and end-cap spaces.
      100 E Pulaski Hwy, 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
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    Elkton, MD 21921-6019
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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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    405 Pulaski Hwy, Elkton, MD, 21921
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