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860 & 870 High Street, Chestertown, MD 21620
$2,800,000
860 & 870 High Street, Chestertown, MD 21620View this property at 860 & 870 High Street, Chestertown, MD 21620
860 & 870 High StreetChestertownMD21620
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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 café, 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 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 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. Café 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 café awaiting the creative touch of a new occupant. The sale includes all café 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.
Full Property Details
Full Property Details for 860 & 870 High St
General
- Price: $2,800,000
- Taxes: $37,212 (2023)
- Status: Active
- Type: Business
- MLS ID: MDKE2003850
- Updated: 4/22/2024
- Added to Site: 11 day(s) ago
Business
- Business Type: Flex, Professional, Restaurant/Bar
Interior
- Flooring: Wood, Ceramic Tile
Additional Information
- Security/Safety: Carbon Monoxide Detector(s), Fire Detection System, Monitored, Sprinkler System - Indoor
Parking
- Total Spaces: 67
- Parking Features: Handicap Parking, Lighted Parking, Paved Parking, Private, Surface
- Parking Type: Parking Lot
Location
- Municipality: Chestertown
- County: Kent
- Driving 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 building, grain silo and seed house.
- Location Details: Free Standing
- Historic District: Yes
- City Limits: Yes
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Heat Pump(s)
- Heating Fuel: Electric
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Propane
Structural Information
- Construction: Wood Siding, Metal Siding
- Roof: Metal, Shake
- # Loading Docks: 1
- Elevator(s ): 1
- Stories/Levels: 4
- Current Bldg. Use: Professional Service, Other
- Year Built: 1891
- Year Built Source: Estimated
- Property Condition: Excellent
Unit Information
- # Tenants: Multiple
Lot Features
- Zoning: C-3
Financial Considerations
- Price Per Sq. Ft.: $164.93
- Tax w/Assessment: $2,579,800
- Tax Amount: $37,212
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Ownership: Other
- Inclusions: Major kitchen equipment in the restaurant. All equipment in the cafe is included. Some office furnishings are negotiable.
Listed by Taylor Properties, Julie H SANTOBONI
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Schools
Schools serving 860 & 870 High St
School District:Kent County Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
402 E Campus Ave, Chestertown, MD 21620 | 6-8 | 1 mi | |
25301 Lambs Meadow Rd, Worton, MD 21678 | 9-12 | 4.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 860 & 870 High St
Date
Details
Price
Change
Source
4/22/2024
Listed
$2,800,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 860 & 870 High St
860 & 870 High Street, Chestertown, MD 21620 (MLS# MDKE2003850) is a Business property. 860 & 870 High Street is currently listed for $2,800,000 and was received on April 22, 2024. Want to learn more about 860 & 870 High Street? Do you have questions about finding other Business real estate for sale in Chestertown? You can browse all Chestertown real estate or contact a Coldwell Banker agent to request more information.