860 & 870 High Street
Chestertown, MD, 21620 $ 2,800,000
Baths0.0 Sq 16,977 Monthly Estimate*
$ 19,559
Studio
for $2,800,000. This 16,977 square foot building was built in 1891.
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.
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Commercial ActiveFlex,Professional,Restaurant/Bar
FeaturesInteriorHeating Fuel Electric
Flooring Wood Ceramic Tile
Hot Water Electric
Total Stories 4
Heating Y/N Y
Street Suffix STREET
Central Air Y/N Y
Number of Elevators 1
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GeneralSewer 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 2024
Current Use Professional Service Other
Percent Ownership Other
Cool Fuel Electric
Municipality Chestertown
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 N
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 N
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
City CHESTERTOWN
Buyer Agent Compensation 2
Zoning Description See documents for allowable uses.
Total Units 4
Waterfront Y/N N
Street Name HIGH
Tax Annual Amount 37212.0
Property Condition Excellent
Price Per Sq Ft 164.93
Historic Y/N Y
Vacation Rental Y/N N
Virtual Tour https://show.tours/e/6p33RTs
Days on Market 17
Location Type Free Standing
Standard Status Active
Year Built Source Estimated
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee N
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ExteriorParking 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.
Type of Parking Parking Lot
Water View Y/N N
Building Area Total 16977.00
Land Assessed Value 235800.00
Navigable Water Y/N N
Water Oriented Y/N N
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* Excluded FeaturesList Bysantobonire@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $19,559
- Monthly Property Taxes
- $3,101
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Chestertown, MD
Average List Price $1,155,800
Percent of Sale Price 59%
About Chestertown, MD 5,312 Population
10% Since 2002
$ 47,055 Median Income
32.86 Median Age
18% Households with Children
Trends Information provided by ATTOM Data Solutions.
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
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4/19/2024 | $2,800,000 | | Listed Price |