6429 Maddox Blvd Chincoteague VA

Retail-Commercial for Sale
Catylist Listing ID: 30817775
Property Subtypes: Restaurant
Building Size (RSF): 1,200 SF
Gross Land Area: 0.31 SF
Sale Price: $675,000
Unit Price: $562.50 PSF
Ceiling: 18 ft.
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Building Name: Sea Star Cafe
Usable Size (USF): 1,200 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/21/2023

Overview / Comments

Recent price reduction from $735K to $675K

Tucked away on Chincotrague Island, you'll find a friendly eatery with a yellow star on the side, this is how you will know you have arrived at the Sea Star Cafe, one of the region's most beloved lunch stops for the last 23 years.

The Sea Star Cafe is famous for its variety of made to order sandwiches, if you're hungry for lunch, you will find that few things do the trick like a gourmet sandwich with an old fashion ice tea drink.

Because the sandwiches are customizable you can order yours how you like it. There are plenty of specialties and combos to choose from as well.

The outdoor eating area overlooks a picturesque pond that you can see some amazing wildlife during your dining experience.

The owners will help to transition the buyers into operating the Restaurant successfully.

The restaurant was open on Thursday-Sunday 11AM-6PM, thats 28 hours a week, the new owners may want to extend hours and add additional days of operation to increase profits. Also the establishment does not serve Wine, Beer, or other Sprits, this feature can also be added to increase revenue to the already profitable operations.

Note: The Sea Star Cafe business can be purchased for an additional sum of $535K.

Additional Details

Nearest MSA: Virginia Beach-Norfolk-Newport News
County: Accomack
Taxing Authority: County of Accomack
Tax ID/APN: 030A60200B00001
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Largest Nearby Street: Main Street
Site Description: Flat
Area Description: Historic Chincoteague Island, a tourist destination for many years!
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,200 SF
Property Condition: Excellent
Year Built: 1985
Year Renovated: 2012
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: Wood frame building, plank siding, asphalt shingle roof.
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: 20 Parking Spaces
Sprinklers: None
Heat Type: Electricity, Propane
Heat Source: Central, Heat Pump
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Building was completely renovated to accommodate the Sea Star Cafe.
Zoning Description: General Business
Lot Frontage: TBD
Lot Depth: Approx. 237'
Water Service: Municipal
Sewer Type: Septic
Easements Description: Public records
Land Ownership: Sea Star Cafe
Legal Description: Parcel ID #030-A-60200-B00001 .3114AC

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,414 2,941 5,989
Median Age: 51.85 52.14 49.2
Households: 691 1,417 2,763
© Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Charlottesville Area Association of REALTORS nor Moody's assume any liability for errors or omissions.