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    870 High St Chestertown, MD 21620

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    For Lease
    $250 SF/Yr

    Office spaces with modern conveniences and historic charm for rent.

    Lot size:
    2.32 Acres

    Property Features for 870 High St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    2.32 Acres

    Building Details

    Year built
    1891

    We can help!

    Listing Contact
    Julie H Santoboni
    Source: Elliman

    Listing Agency: Taylor Properties Listing Agent: Julie H Santoboni

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

    Learn more

    Overview

    Radcliffe Mill Office Space Available

    Radcliffe Mill offers a variety of office spaces suitable for office, professional, or artist use. The available spaces range from cubicles to multiple floors of offices, combining modern conveniences with historic charm. All offices provide access to kitchen space, and most are ADA accessible. The rent, starting at $250 for a furnished cubicle space and $400 for a private office, includes most utilities. While short-term leases are considered, one or two-year lease terms are preferred.
    Location Intelligence

    Current Use by Public Records

    Cafe Sado Restaurant Radcliffe Financial Financial Advisor Radcliffe Corporate Services ... Tax Preparation Radcliffe Corporate Services: ... Accounting Firm Psychotherapeutic Management Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    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
    -76.080042
    Latitude
    39.219096

    Nearby Similar for Lease

    • New
      $250 SF/Yr
      101,059 SF

      Radcliffe Mill Office Space

      Office and artist spaces with modern amenities and historic charm.
      870 High St, Chestertown, MD 21620
      View Details
    • $2,200 /Mo

      Commercial Space in Historic Chestertown

      Vacant commercial space suitable for retail or restaurant use.
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      Chestertown Basement Office Space

      Charming, historic Chestertown office space with utilities included.
      302 Park Dr, Chestertown, MD 21620
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      Office/Gallery Space in Historic District

      Versatile office or gallery space in Chestertown's Historic District.
      203 High St, Chestertown, MD 21620
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    • $2,864 /Mo
      49,223 SF

      Retail Space in College Commons

      Inline retail space available for lease in Chestertown, MD.
      601 Washington Ave, Chestertown, MD 21620
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      Downtown Office or Medical Suite

      Prime office space in historic Chestertown with flexible layout.
      315 High St, Chestertown, MD 21620
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    • Contact for pricing
      2,007 SF

      Retail Space in Chestertown

      Highly visible retail property in the heart of Chestertown.
      611 Washington Ave, Chestertown, MD 21620
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    • Contact for pricing
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      Retail Space in Kent Plaza

      Retail space available in community shopping center with anchor tenants.
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      View Details

    FAQs

    What type of property is this?
    Office units - Office spaces with modern conveniences and historic charm for rent.
    Where is this office units located?
    The property is located at 870 High St Chestertown, MD.
    What is the lease rate?
    The lease rate is $250 SF/Yr.
    What are key features of this property?
    This property features: - Wide range of office space options available, from cubicles to multiple floors.; - Rent includes most utilities.; - Affordable starting rent, from $250 for a furnished cubicle and $400 for a private office.
    (202) 607-6762
    Request Owner's contact information
    870 High St Chestertown, MD 21620
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    Chestertown, MD 21620
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    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
    870 High St Chestertown, MD 21620
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    We can help!
    Listing Contact
    Julie H Santoboni
    Real Estate License ID: 672033
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