Mixed-Use Building with Aquatic
818 HIGH STREET, Chestertown, MD 21620
For Sale
New
$3,300,000
Three levels combine aquatic and fitness facilities with private offices and an elevator.
Property Size24,000 SF
Price / SF$143.48
Days on Market4
Property Features for 818 HIGH STREET
General Information
Standard status
Size
Elevators
Property subtype
Additional Details
Condition
Road Access
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
aquatic center
heated saltwater pool
weight/cardio rooms
physical therapy areas
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Coldwell Banker Chesapeake Real Estate Company
Listed By:
Peter D Heller
(410) 708-3301
Source:
Bradkappel
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 3:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Chesapeake Real Estate Company
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Investment Insights
Based on property information with market context.
The Brian E. Bainbridge Health Building is a 23,000-square-foot, three-story mixed-use property completed in 2009. Its ground floor contains a heated saltwater pool, weight and cardio rooms, and physical therapy areas. Private office suites occupy the upper floors, and an elevator serves the building.
Located on High Street in Chestertown, the property includes a dedicated parking lot for customers and tenants. Its combination of aquatic, fitness, therapy, and office space brings several functions together within one commercial building.
Located on High Street in Chestertown, the property includes a dedicated parking lot for customers and tenants. Its combination of aquatic, fitness, therapy, and office space brings several functions together within one commercial building.
Key Highlights
- 23,000 square feet across three stories
- Heated saltwater pool, weight and cardio rooms, and physical therapy areas
- Private office suites on upper floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$279,450
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,589,000
$5.6M
Cap Rate 7%
$3,992,143
$4.0M
Cap Rate 9%
$3,105,000
$3.1M
Market Conditions
NOI Build-Up for 23,000 SF
Gross rent
$496.8K $21.60/SF
− Vacancy
−$49.7K −$2.16/SF
EGI
$447.1K $19.44/SF
− OpEx
−$167.7K −$7.29/SF
NOI
$279.5K $12.15/SF
Area
Queen Anne's County, MD
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,589,000
Cap Rate 7%
$3,992,143
Cap Rate 9%
$3,105,000
Alternative Uses
Best Use
Healthcare Medical
$4.68M
$4.10M – $5.46M
NOI $327,888 @ 7.0% cap · market cap 9.94%
Second Best
Mixed Use
$3.99M
$3.49M – $4.66M
NOI $279,450 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$5.51M
$4.82M – $6.43M
NOI $385,711 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
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Business Placement
Demographics for 21620, MD
12,726
Population
6,259
Households
2
Avg Household Size
46
Median Age
43%
College-Educated
93%
High-School Grad
118.7 sq mi
ZIP Area
107
Density / Sq Mi
$76,094
Median Household Income
$39,432
Median Earnings
$1,149
Median Rent
$318,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three levels combine aquatic and fitness facilities with private offices and an elevator.
Where is this mixed-use property located?
The property is located at 818 HIGH STREET Chestertown, MD.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 23,000 square feet across three stories; Heated saltwater pool, weight and cardio rooms, and physical therapy areas; Private office suites on upper floors
