903 Washington Ave Chestertown, MD 21620
- Turn key restaurants
- 3,528 SF
- 0.92 lot acres
Current Use by Public Records
- Eastern Shore Tang Soo Do / Martial Arts School
- Phoenix Personal Fitness & Martial Arts, Inc. / Martial Arts School / Nutritionist
- Chestertown hotDesks / Coworking Space
- hotDesks/Chestertown / Coworking Space
- Hair We Are / Hair Salon / Ear Piercing Service
Property Details for 903 Washington Ave
- Year built
- 1999
- Construction
- BRICK
- Lot size
- 0.92 lot acres
- Property size
- 3,528 SF
- Zone code
- CC
- Property type
- Turn key restaurants
- APN
- 04-027248
- APU
- 4027248
Description
This 0.92-acre retail property at 903 Washington Avenue in Chestertown, MD, presents a unique investment opportunity. The building, formerly a Pizza Hut, offers a ready-made layout for a restaurant re-brand, benefiting from an existing infrastructure. Alternatively, the space offers significant potential for redevelopment into a mixed-use facility, ideally suited for one or multiple medical tenants. A six-month rent-free incentive is offered to the new tenant under a NNN lease structure. The property's strategic location is adjacent to Kent County's largest industrial park, experiencing substantial growth with numerous buildings constructed, occupied, and under construction. This burgeoning industrial sector is transforming Chestertown's business landscape. The property's proximity to Washington College and its convenient location just 90 minutes from Baltimore, Philadelphia, and Washington, D.C., ensures high visibility and accessibility. This presents a rare chance to capitalize on the area's economic expansion and establish a thriving business in a vibrant community. The existing building provides a solid foundation for immediate occupancy or extensive renovation, catering to a variety of commercial uses. The property's size and location make it an attractive proposition for entrepreneurs and investors seeking a foothold in a rapidly developing market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $525,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $540,000
- 6.5%
- $575,000
- 7%
- $535,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $480,000
- Geo Method
- $480,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $565,000
- Retail
- $605,000
- Mixed-Use
- $530,000
- Hospitality
- $540,000
- Educational
- $515,000
- Residential Income
- $615,000
- Energy
- $460,000
- Income-Based Land
- $515,000
- Food Service
- $505,000
Location Insight
- Map
- Local Demand
- City
- Chestertown
- County
- Kent
- State
- Maryland
- Longitude
- -76.07
- Latitude
- 39.2324
