8700 Chestnut AveBowie, MD 20720

Property Details for 8700 Chestnut Ave

Year built

1940

Construction

BRICK

Lot size

0.41 AC

Property size (Sq ft)

2,976 SF

Zone code

CN

Property type

Retail properties

Property subtype

Retail space

APN

14-1616705

APU

141616705

Description

This exceptional freestanding restaurant/bar, located at 8700 Chestnut Ave in Old Town Bowie, MD, presents a unique investment opportunity. The 2,976 square foot building, constructed in 1940 and renovated in 2019, sits on a generous .52-acre lot zoned MUI. Its prime corner location is adjacent to a park, offering a picturesque setting and ample natural light. The property boasts a private parking lot, adding significant convenience for patrons. Inside, the fully equipped space includes a bar, kitchen hoods, grease trap, and walk-in coolers – all ready for a new operator. The existing infrastructure is ideal for a seamless transition, minimizing start-up costs. The affluent surrounding neighborhood, with median household incomes exceeding $141,000 within one mile and $114,000 within five miles, ensures a strong potential customer base. This is a rare chance to acquire a turn-key restaurant/bar in a highly desirable location. The asking price is $1,300,000 ($436.83 per square foot). Don't miss this chance to own a piece of Old Town Bowie.

• CAP approach

  CAP return

  Valuation

  6%

  $707,060

  6.5%

  $652,671

  7%

  $606,052

• Comparable approach

  Method

  Valuation

  Relative Method

  $438,093

  Geo Method

  $471,795

• Alternative Use

  Use

  Valuation

  Residential

  $550,553

  Hospitality

  $504,303

  Educational

  $419,574

  Medical

  $434,004

  Retail

  $652,671

Location Insight

City

Bowie

County

Prince George's

State

Maryland

Latitude

39.0086

Longitude

-76.7792

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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