Address
860 & 870 High Street, Chestertown, MD
Price
$ 2,800,000
Property Attributes
- MLS#MDKE2003850
- TypeCommercial
- CountyKENT
- CityChestertown
- Zip21620
- StyleFlex,Professional,Restaurant/Bar
- Year Built1891
- Taxes$ 37212
- Price$ 2,800,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage15277
Data Source:
Bright MLS
Property Description
Radcliffe Mill presents an exceptional opportunity for a savvy investor looking for value and a one-of-a-kind investment with endless possibilities. Since its major restoration in 2007, and further transformation in 2017, the property has operated as a mixed-use space. The Mill building features four floors of office space and a 70+ seat restaurant. The Annex/Seed House houses a wellness center, complete with a caf, wellness-related offices, and a spectacular studio. Additionally, there is an undeveloped Grain Elevator, parking for 65 vehicles, and a dedicated loading dock for the restaurant. Having played a significant role in Kent Countys agricultural landscape since 1694, Radcliffe Mill underwent a historic restoration in 2007, transforming it into its current use with over 16,000 square feet of finished space. The centerpiece is the four-story mill building, dating back to 1891. The restoration seamlessly blended modern amenities like an elevator, sprinkler system and HVAC systems, with original features such as exposed beams and reclaimed flooring. While currently configured as office space across four floors, the property's zoning permits various uses, including conversion to apartments. Caf Sado, a local sushi restaurant, is also housed within the mill building. All of the major restaurant equipment is included in the sale. The Annex dates back to the early 1900s and The Seed House to the 1970s. Today, the blended building features soaring ceilings, exposed woodwork, and meticulously restored standing end 2x4 flooring. Presently, the building accommodates a diverse range of wellness practitioners, with the studio space and caf awaiting the creative touch of a new occupant. The sale includes all caf equipment, including refrigerators, freezer, ice maker, keg tap, a warming oven and more. Four of The Seed Offices are on the ground floor, with a fourth office on the second floor, along with additional storage and laundry facilities. Finally, there is an unfinished Grain Elevator, awaiting the creativity of a new buyer. Radcliffe Mill is on the National Register of Historic Places (see documents), and having previously received historic preservation tax credits a new owner could benefit from a shorter process for further property development and improvement tax credits. The property is also in a Maryland Enterprise Zone, and an Opportunity Zone and eligible for energy improvement incentive programs. Radcliffe Mill is strategically located one-mile from downtown Chestertown, a short walk along the rail trail, which used to run directly to the grain elevator. Founded in 1706 on the banks of the Chester River, Chestertown is home to Washington College. Located approximately 80 miles from Washington, DC and Philadelphia, PA and an hour from Wilmington, DE, Chestertown hosts a number of vibrant festivals throughout the year and an active arts and entertainment district. Buyers requesting additional information must sign a Non-Disclosure Agreement.
| Price History | |
|---|---|
| 4/19/2024 | Listed $2,800,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Heat Pump(s) |
| Cooling | Central A/C |
| Utilities | Propane |
| Possession | Settlement,Subject to Existing Lease |
| Roof | Metal,Shake |
| Zoning | C-3 |
| Security Features | Carbon Monoxide Detector(s),Fire Detection System,Monitored,Sprinkler System - Indoor |
| Construction Materials | Wood Siding,Metal Siding |
| Year Built | 1891 |
| Property SubType | Mixed Use |
| Tax Year | 2023 |
| Current Use | Professional Service,Other |
| Percent Ownership | Other |
| Cool Fuel | Electric |
| Business Type | Flex,Professional,Restaurant/Bar |
| Accessibility | 32 + wide Doors,36 + wide Halls,Level Entry - Main,No Stairs,Ramp - Main Level,Elevator |
| County | KENT |
| New Construction | No |
| Property Type | Commercial Sale |
| Possible Use | Apartment Building,Apartments,Bar/Tavern/Lounge,Barber/Beauty,Beer/Wine/Liquor,Commercial,Church,Development,Financial,Flex Space,Food & Beverage,Food Market,Institutional,Medical/Dental,Mixed Use,Of |
| Water Access Y/N | No |
| Property Use | Owner User |
| Status | ACTIVE |
| Directions | When heading towards Rock Hall from Chestertown,just past the traffic circle at the intersection of Morgnec Rd and High Street in Chestertown. The Radcliffe Mill complex includes the large old mill |
| ModificationTimestamp | 2024-04-22T00:06:57 |
| City | CHESTERTOWN |
| Buyer Agent Compensation | 2 |
| Zoning Description | See documents for allowable uses. |
| Total Units | 4 |
| Tax Assessed Value | 2579800.0 |
| Waterfront Y/N | No |
| Street Name | HIGH |
| Tax Annual Amount | 37212.0 |
| Property Condition | Excellent |
| Price Per Sq Ft | 164.93 |
| Historic Y/N | Yes |
| Vacation Rental Y/N | No |
| Virtual Tour | https://show.tours/e/6p33RTs |
| Days on Market | 9 |
| Location Type | Free Standing |
| Standard Status | Active |
| Year Built Source | Estimated |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Flooring | Wood,Ceramic Tile |
| Hot Water | Electric |
| Total Stories | 4 |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | Yes |
| Number of Elevators | 1 |
Exterior Features
| Parking Features | Handicap Parking,Lighted Parking,Paved Parking,Private,Surface |
|---|---|
| Water Source | Public |
| Inclusions | Major kitchen equipment in the restaurant. All equipment in the cafe is included. Some office furnishings are negotiable. |
| Total Parking Spaces | 67 |
| Type of Parking | Parking Lot |
| Water View Y/N | No |
| Building Area Total | 16977.00 |
| Total Loading Docks | 1 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Fencing Y/N | No |
| Car Parking Spaces | 65 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 21620
Price
Taxes
Visits
Year Built
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