Active
860 & 870 High St
Chestertown MD, 21620
$2,700,000
$159.04 per sqft
Active
16,977 sqft
Commercial
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 cafe, 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. Cafe 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 cafe awaiting the creative touch of a new occupant. The sale includes all cafe 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.
The property consists of two different parcels, and each parcel is also being offered for sale separately.
Buyers requesting additional information must sign a Non-Disclosure Agreement.
MDKE2003850
MLSⓇ ID
April 22, 2024
Listed
November 22, 2024
Updated
Map
860 & 870 High St
Chestertown MD, 21620
Interior Features
Total Stories
4
Interior Features
Elevator
Appliances
Electric Water Heater
Floor Description
Ceramic Tile, Wood
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Electric
Exterior/Building Features
Roof
Metal
Sewer
Public Sewer
Other Property Details
Area Name
Chestertown
Taxes
$38,285
Tax Frequency
Annually
Days on Market
156
Garage
No
Parking Total
67
View
No
County
KENT
Water Source
Public
Pool
No
Zoning
See documents for allowable uses.
Listing History
Date | Event | Price |
---|---|---|
6/17/2024 | Price change | $2,700,000 -4% |
4/22/2024 | Active | — |
Listed by Taylor Properties
Listing Contact: 2026076762
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Data last updated on 11/22/2024 at 4:05 AM UTC