MD > Chestertown
Chestertown, MD 21620,870 HIGH ST
Chestertown, MD 21620,870 HIGH ST
Chestertown, MD 21620,870 HIGH ST
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$1,870,000
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16,977 SqFt
Active

870 HIGH ST Chestertown, MD 21620

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Melissa Roswell

Melissa Roswell

+1(856) 904-9502

UPDATED:

09/24/2024 06:06 AM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 16,977 sqft

Price per Sqft $110

MLS Listing ID MDKE2004140

Originating Board BRIGHT

Year Built 1891

Annual Tax Amount $38,285

Tax Year 2024

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. Transformed in a major restoration in 2007 The Mill building features four floors of office space and a 70+ seat restaurant. 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 County’s 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 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. Café Sado, a local sushi restaurant, is also housed within the mill building and has a long-term lease in place. All of the major restaurant equipment is included in the sale. The 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.

The property consists of two different parcels, and each parcel is being offered for sale separately, or the entire property can be purchased as a package. The sale of either 860 or 870 High Street individually is contingent on a lot line adjustment.

Buyers requesting additional information must sign a Non-Disclosure Agreement.

Location

State MD

County Kent

Zoning C-3

Interior

Hot Water Electric

Heating Heat Pump(s)

Cooling Central A/C

Flooring Wood, Ceramic Tile

Inclusions Major kitchen equipment in the restaurant. Some office furnishings are negotiable.

Heat Source Electric

Exterior

Garage Spaces 67.0

Utilities Available Propane

Waterfront N

Water Access N

Roof Type Metal,Shake

Accessibility 32\"+ wide Doors, 36\"+ wide Halls, Level Entry - Main, No Stairs, Ramp - Main Level, Elevator

Parking Type Parking Lot

Total Parking Spaces 67

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Kent County Public Schools

Others

Tax ID 1504000404

Ownership Other

Security Features Carbon Monoxide Detector(s),Fire Detection System,Monitored,Sprinkler System - Indoor

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Julie H SANTOBONI • Taylor Properties

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Melissa Roswell

Agent | License ID: 1540788

+1(856) 904-9502

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