Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    349 High St Chestertown, MD 21620

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $395,000

    Multi-family property in Chestertown's Historic and Arts & Entertainment Districts.

    Property size:
    3,664 SF
    Lot size:
    0.13 Acres

    Property Features for 349 High St

    General Information

    Standard status
    Pending
    Size
    3,664 SF
    Lot size
    0.13 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Cheryl Hurt
    Source: Exitrealty

    Listing Agency: Coldwell Banker Chesapeake Real Estate Company Listing Agent: Cheryl Hurt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic Chestertown Multi-Family Opportunity

    This multi-family property, owned by the same family for over 50 years, is situated on a double lot known historically as the Laurence Lots in the heart of Chestertown’s Historic and Arts & Entertainment Districts. The property features a townhouse on one side and two apartments on the other, offering a flexible layout. Significant settling has occurred over the years, and a substantial renovation will be required. The property is offered strictly as-is. The location supports both residential and business uses, making it an ideal candidate for those looking to merge lifestyle, business, and history. The property size is 3664 square feet.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chestertown
    County
    Queen Anne's
    State
    Maryland
    Longitude
    -76.0683706
    Latitude
    39.2099399

    Nearby Similar for Sale

    • $395,000
      3,664 SF

      Historic Chestertown Multi-Family Renovation Opportunity

      Multi-family property in Chestertown's Historic and Arts & Entertainment District.
      349 High St, Chestertown, MD 21620
      View Details
    • $1,870,000

      Historic Mill Building with Restaurant

      Unique investment opportunity: restored mill with office, restaurant, elevator.
      870 High St, Chestertown, MD 21620
      View Details
    • $40,000
      0.11 Acres

      Land in Chestertown, Maryland

      Vacant land available in Chestertown, Maryland.
      Montgomery Ave, Chestertown, MD 21620
      View Details
    • $509,000

      Harlan Loop Specialty Property

      Specialty property available for sale.
      116 Harlan Loop, Chestertown, MD 21620
      View Details
    • $498,500

      Chestertown Specialty Property For Sale

      Specialty property available for purchase in Chestertown, Maryland.
      100 Adela Way, Chestertown, MD 21620
      View Details
    • $559,000

      Chestertown Specialty Property For Sale

      Specialty property available in Chestertown, Maryland.
      216 Blakefield Dr, Chestertown, MD 21620
      View Details
    • $334,000
      Pending

      Georgetown Road Specialty Property

      Specialty property available for sale on Georgetown Road.
      8750 Georgetown Rd, Chestertown, MD 21620
      View Details
    • $860,000
      3,114 SF

      Historic Chestertown Mixed-Use Gem

      3,114 sq ft, Wellness Center, Cafe Included
      860 High St, Chestertown, MD 21620
      View Details
    • $895,000
      0.97 Acres

      Chestertown Commercial Development Site

      Prime 1-acre lot, high traffic location.
      515 Washington Ave, Chestertown, MD 21620
      View Details
    • $1,250,000
      1,588 SF

      Downtown Chestertown Development Opportunity

      Prime 1.56-acre lot, multiple zoning options.
      206 Cannon St, Chestertown, MD 21620
      View Details
    • $1,870,000
      16,977 SF

      Chestertown Mixed-Use Investment

      Historic Mill, Endless Potential
      870 High St, Chestertown, MD 21620
      View Details
    • Contact for pricing
      2.32 Acres

      Chestertown Office Space for Lease

      Historic building, furnished offices, great location.
      870 High St, Chestertown, MD 21620
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multi-family property in Chestertown's Historic and Arts & Entertainment Districts.
    Where is this multifamily property located?
    The property is located at 349 High St Chestertown, MD.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Rare opportunity to own a multi-family property on a double lot in the heart of Chestertown's Historic and Arts & Entertainment Districts.; - Flexible layout suitable for renovation into a single-family home, live/work space, or multi-unit investment property.; - Located within both the Arts & Entertainment District and Enterprise Zone, supporting residential and business uses.
    (619) 755-7730
    Request Owner's contact information
    349 High St Chestertown, MD 21620
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    349 High St
    Chestertown, MD 21620
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    349 High St Chestertown, MD 21620
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Cheryl Hurt
    Real Estate License ID: 676679
    (619) 755-7730 (410) 778-0330
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!