Property profile

903 Washington Ave Chestertown, MD 21620

OFF-MARKET
Turn key restaurants
Property ID
US40-1303884
3,528 SF 0.92 ac lot Built 1999
Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1999
Construction BRICK
Total area 3,528 SF
Lot 0.92 ac (39,944 SF)
Zoning code CC
APN 04-027248
UPID US40-1303884

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Training Center Sports School
  • Gym & Fitness Center
  • Coworking & Hybrid Office
  • Coworking & Hybrid Office
  • Hair Salon

Location

903 Washington Ave Chestertown, MD 21620-3331
Chestertown metro Census 950300
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$525k
CAP Approach CAP
by Request
Comparable Approach Comparable
$336k
Blend (final) Blend
$525k

Owner & transaction history

since 2024
Last sale
$525,000
1 recorded transaction
2024
$525,000

Zoning & alternative use

CC · Chestertown, MD
Top alternative use upside
Office building $535,000 +13.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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