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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Turn key restaurants
902 Pulaski Hwy, Elkton, MD 21921-6304
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US40-1214931
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1960
Construction
BRICK
Total area
10,938 SF
Lot
1.34 ac (58,370 SF)
Zoning code
C2
APN
03-028771
UPID
US40-1214931
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mick's Event Hall Hotel & Motel Resort
-
Elkton Magic Theater & Performing Art Venue DJ & Entertainment
-
Mick's Pub & Crabs (Micks Crab House) Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.19M
Owner & transaction history
Upper Chesapeake Restaurant INC · 5 yrs held
Upper Chesapeake Restaurant INC
since 2021
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
C2 · Elkton, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+37.1%
Commercial (general)
$1.4M
+19.5%
Industrial (general)
$1.4M
+17.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Elkton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,520,000
ML approach
$1,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,180,000
Current use
OFFICE BUILDING
$1,615,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,410,000
Change: +20% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,380,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$1,355,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,095,000
Change: -7% · Conversion: Difficult
MEDICAL BUILDING
$990,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±10% · vs last sale $1.16M (Jul 1 2021)
Last sale anchor
$1.16M
Jul 1 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$109 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$19,415
Tax year 2023
Assessed value
$1,115,800
Assessed 2023
Previous assessed
$1,115,800
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$770,500
Assessed improvement
$345,300
Land market value
$770,500
Improvement market value
$345,300
Total market value
$1,115,800
Applied tax rate
30.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1960
Construction
BRICK
Heating
HOT WATER
Stories
2
Units
1
Total area
10,938 SF
Lot
1.34 ac (58,370 SF)
Zoning code
C2
APN
03-028771
UPID
US40-1214931
Jurisdiction
CECIL
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
C2 · Elkton, MD
Zoning C2 · permitted uses
C2 · Elkton, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$990,000
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
BRICK
Heating
HOT WATER
Stories
2
Units
1
Lot
1.34 ac
Current owner
From public records · entity-resolved
Upper Chesapeake Restaurant INC
Entity
Mailing address
902 E PULASKI HWY, ELKTON, MD 21921-6304
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2023
—
Upper Chesapeake Restaurant INC
—
Deed
related
$355,000 · Harford Bank
Jul 1, 2021
$1,155,000
Upper Chesapeake Restaurant INC
Mm Bentleys LLC
Deed
$693,000 · Harford Bank
—
—
Mm Bentleys LLC
—
Deed Of Trust
related
$130,000 · Cecil Fsb
—
—
Mm Bentleys LLC
—
Deed Of Trust
related
$300,000 · Cecil Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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