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206 Cannon St Chestertown, MD 21620

OFF-MARKET Retail space Google Maps
1,588 SF 1.56 ac lot Built 1900
Entity Owned ~ Est. High Equity
Estimated value (blended)
$790k
Range $711k – $869k (±10%)
Property ID US40-2239354

Property summary

AI-generated overview

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.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1900
Construction BRICK
Total area 1,588 SF
Lot 1.56 ac (67,954 SF)
Zoning code C-2
APN 04-022211
UPID US40-2239354

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$895k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$790k

Owner & transaction history

since 2026
Last sale
$950,000
7 recorded transactions
2026
$800,000
2022
$950,000
2005
$1.2M
2000
$445,000
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C-2 · Chestertown, MD
Zoning description

The purpose of C-2 zone is to support mixed use uses that contain an active non-residential ground floor encompassing the retail, service and office core of the central business district and permit a wide variety of uses…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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