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Chestertown,MD 21620
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
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. Caf� 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.
Exterior
Garage Spaces 67.0
Utilities Available Propane
Waterfront N
Water Access N
Roof Type Metal,Shake
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Kent County Public Schools
Others
Special Listing Condition Standard