903 Washington AveChestertown, MD 21620

Property Details for 903 Washington Ave

Year built

1999

Construction

BRICK

Lot size

0.92 AC

Property size (Sq ft)

3,528 SF

Zone code

CC

Property type

Turn key restaurants

APN

04-027248

APU

4027248

Description

This 0.92-acre retail property at 903 Washington Avenue in Chestertown, MD, presents a unique investment opportunity. The building, formerly a Pizza Hut, offers a ready-made layout for a restaurant re-brand, benefiting from an existing infrastructure. Alternatively, the space offers significant potential for redevelopment into a mixed-use facility, ideally suited for one or multiple medical tenants. A six-month rent-free incentive is offered to the new tenant under a NNN lease structure. The property's strategic location is adjacent to Kent County's largest industrial park, experiencing substantial growth with numerous buildings constructed, occupied, and under construction. This burgeoning industrial sector is transforming Chestertown's business landscape. The property's proximity to Washington College and its convenient location just 90 minutes from Baltimore, Philadelphia, and Washington, D.C., ensures high visibility and accessibility. This presents a rare chance to capitalize on the area's economic expansion and establish a thriving business in a vibrant community. The existing building provides a solid foundation for immediate occupancy or extensive renovation, catering to a variety of commercial uses. The property's size and location make it an attractive proposition for entrepreneurs and investors seeking a foothold in a rapidly developing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,118,256

  6.5%

  $1,032,236

  7%

  $958,505

• Comparable approach

  Method

  Valuation

  Relative Method

  $559,305

  Geo Method

  $559,305

• Alternative Use

  Use

  Valuation

  Residential

  $870,730

  Hospitality

  $797,584

  Educational

  $663,580

  Medical

  $686,402

  Retail

  $1,032,236

Location Insight

City

Chestertown

County

Kent

State

Maryland

Latitude

39.2324

Longitude

-76.07

Property Tax & Assessments

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