206 Cannon StChestertown, MD 21620

Property Details for 206 Cannon St

Year built

1900

Construction

BRICK

Lot size

1.56 AC

Property size (Sq ft)

1,588 SF

Zone code

C-2

Property type

Retail space

APN

04-022211

APU

4022211

Description

This exceptional 1.56-acre property presents a unique development opportunity in the heart of historic Chestertown, Maryland. Located at 206 Cannon Street, this expansive lot boasts a versatile C-2 zoning classification, encompassing both R1 and R5 zoning designations. This allows for a wide range of permitted uses, including multi-family dwellings, townhouses, professional and business offices, and even non-profit museums. The property includes an existing warehouse building, adding to its potential. Its strategic location offers unparalleled access to the Chester River waterfront, just blocks away, as well as Chestertown's vibrant amenities. Enjoy proximity to picturesque parks, a diverse selection of shops and restaurants, art galleries, and the prestigious Washington College. The property's frontage on three streets provides excellent visibility and accessibility. With its substantial size, flexible zoning, and prime location, this property is ideal for developers seeking a high-impact project in a thriving historic community. The 1,588 square foot warehouse building offers additional possibilities for immediate income or redevelopment. This is a rare chance to acquire a significant parcel in a highly desirable area, offering substantial potential for future growth and return on investment. Don't miss this opportunity to shape the future of Chestertown's dynamic downtown.

• CAP approach

  CAP return

  Valuation

  6%

  $503,342

  6.5%

  $464,623

  7%

  $431,436

• Comparable approach

  Method

  Valuation

  Relative Method

  $251,751

  Geo Method

  $251,751

• Alternative Use

  Use

  Valuation

  Residential

  $391,927

  Hospitality

  $359,003

  Educational

  $298,686

  Medical

  $308,959

  Retail

  $464,623

Location Insight

City

Chestertown

County

Kent

State

Maryland

Latitude

39.2072

Longitude

-76.0669

Property Tax & Assessments

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