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 

The IDX display contains information sourced from the Bright MLS, Inc. as of 11/22/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 11/22/2024 at 4:05 AM UTC

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