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Property profile & analytics
OFF-MARKET Estimated value $700,000
Commercial real estate

515 Washington Ave Chestertown, MD 21620-1217

9,742 SF 0.97 ac lot Built 1951
Individually Owned 14-yr Hold Free & Clear
Property ID
US40-1106996
Property summary
AI-generated overview

This exceptional 0.97-acre commercial development site presents a unique investment opportunity in the thriving town of Chestertown, Maryland. Situated on busy MD Route 213, this property enjoys unparalleled visibility and accessibility, boasting a prime location directly across from a newly constructed Starbucks and the Washington College campus. The C-3 zoning allows for a diverse range of commercial uses, including retail establishments, restaurants, and service-oriented businesses. This makes it an ideal location for entrepreneurs seeking high foot traffic and a strong customer base. The site's convenient location ensures easy access for both students and the wider community. The property's size offers ample space for development, allowing for flexibility in design and construction. Furthermore, essential utilities such as water and sewer are readily available, simplifying the development process and reducing upfront costs. This is a rare opportunity to acquire a highly desirable commercial property in a rapidly growing area with significant potential for substantial returns. Don't miss out on this chance to establish your business in a vibrant and strategic location. Contact us today to learn more about this exceptional development opportunity.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1951
Construction BRICK
Total area 9,742 SF
Lot 0.97 ac (42,200 SF)
Zoning code C-1
APN 04-007581
UPID US40-1106996
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Hogans Agency Inc: Mercer John Insurance Agency
  • Long George Insurance Agency
  • Kaufman Jr Thompson Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$744k
Blend (final) Blend
$700k
Owner & transaction history
Franklin T Hogans SR. · 14 yrs held
Franklin T Hogans SR.
since 2012
2 recorded transactions
2012
Price N/A
1969
Price N/A
Zoning & alternative use
C-1 · Chestertown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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