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7.4% Cap Rate 225 Mason Ave 8,196 SF Retail Building Cape Charles, VA 23310 $2,275,000 ($277.57/SF) 7.45% Cap Rate
INVESTMENT HIGHLIGHTS
- 8,196 SF of newly redeveloped space
- Award winning and established distillery
- Located in the heart of the Boutique Shopping District
- Custom built for tenant
- 10 year lease
EXECUTIVE SUMMARY
One South Commercial is excited to offer the exclusive listing for 225 Mason Avenue in Cape Charles, VA. This fully restored property, spanning 8,196 square feet, has been meticulously upgraded for the award winning Cape Charles Distillery. The developer revitalized an iconic building, formerly a hardware store, and transformed it into one of Cape Charles’ signature businesses, breathing new life into the structure. The custom construction features two floors of retail lounge seating, a commercial kitchen on the first floor, a private event room on the second floor, and a rooftop deck with stunning views of the town. Located in the heart of the historic retail district, this property serves as a vibrant hub for both locals and visitors.
CAPE CHARLES DISTILLERY
Cape Charles Distillery proudly stands as the first distillery on the Eastern Shore, utilizing locally sourced ingredients and pure water from the Blue Ridge Mountains to craft premium spirits. Founded in 2017, the distillery opened its retail doors in the spring of 2018 and has since rapidly gained popularity across Virginia Beach, Norfolk, and the Eastern Shore.
From 2019 to 2023, Cape Charles Distillery has been named the Best Distillery in Eastern Virginia by Virginia Living magazine for five consecutive years. Additionally,
it has been recognized as one of the top 10 distilleries in the state by the Virginia Alcoholic Beverage Control Authority (VABC). Achieving such accolades in under three years is a testament to the distillery’s exceptional quality. Cape Charles Distillery’s products are a must have for any bar, restaurant, or spirits retailer.
CAPE CHARLES DISTILLERY
Cape Charles Distillery proudly stands as the first distillery on the Eastern Shore, utilizing locally sourced ingredients and pure water from the Blue Ridge Mountains to craft premium spirits. Founded in 2017, the distillery opened its retail doors in the spring of 2018 and has since rapidly gained popularity across Virginia Beach, Norfolk, and the Eastern Shore.
From 2019 to 2023, Cape Charles Distillery has been named the Best Distillery in Eastern Virginia by Virginia Living magazine for five consecutive years. Additionally,
it has been recognized as one of the top 10 distilleries in the state by the Virginia Alcoholic Beverage Control Authority (VABC). Achieving such accolades in under three years is a testament to the distillery’s exceptional quality. Cape Charles Distillery’s products are a must have for any bar, restaurant, or spirits retailer.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,196 SF
Building Class
C
Year Built
1910
Price
$2,275,000
Price Per SF
$277.57
Cap Rate
7.45%
NOI
$169,500
Tenancy
Single
Building Height
2 Stories
Building FAR
1.57
Lot Size
0.12 AC
Opportunity Zone
Yes
Frontage
PROPERTY TAXES
| Parcel Number | 83A3-1-630 | Improvements Assessment | $337,700 |
| Land Assessment | $275,000 | Total Assessment | $612,700 |
PROPERTY TAXES
Parcel Number
83A3-1-630
Land Assessment
$275,000
Improvements Assessment
$337,700
Total Assessment
$612,700
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7.4% Cap Rate | 225 Mason Ave
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