Building Details

Building Size 10,378 SF

Listing Agency: Divaris Real Estate Inc l***@divaris.com Show Phone

Listed By: Levi Thomson Show Phone

Source: Divaris

Added: Jun 2 Changed: Aug 16 Last Checked: Aug 31 at 1:11PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Divaris Real Estate Inc

Investment Insights

Based on property information with market context.

The former Island House Restaurant offers a turnkey waterfront restaurant and marina setting along the Wachapreague Channel. The property includes a 10,378± square foot restaurant building with expansive indoor dining, a full-service bar, banquet space, a commercial kitchen, and outdoor decks overlooking the water. The marina component complements the dining experience with 16 slips, fuel service, and a boat pump-out station. In addition to the restaurant, there is a 360± square foot tackle shop and other marina-related amenities, supporting guest needs on-site.

The waterfront location provides both road and water access, creating a destination format for locals and visitors traveling by land or by boat. The property is situated on commercially zoned waterfront land and is positioned for access beyond the channel, including connection to the Atlantic Ocean.

This unique combination of a full-service restaurant and operational marina makes the property well-suited for an operator seeking a hospitality-driven asset with multiple revenue touchpoints. With the existing dining, event, and deck areas alongside marina services and slip inventory, the offering can appeal to buyers looking to continue the destination restaurant-and-marina concept or expand waterfront programming with a dedicated guest experience.

Key Highlights

• 10,378± SF restaurant building on 0.87± acres of commercially zoned waterfront land along the Wachapreague Channel
• 196‑seat waterfront restaurant with indoor and outdoor dining, full‑service bar, banquet space, and commercial kitchen
• 16‑slip marina with fuel service and a boat pump‑out station, plus waterfront outdoor decks overlooking the water

Property Analytics

Property Profile

Current Use

Marinas

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Real Estate Agency Discount Store Restaurant Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

Explore this area Business Placement

Demographics for 23480, VA

331

Population

305

Households

1.1

Avg Household Size

56

Median Age

28%

College-Educated

98%

High-School Grad

1.9 sq mi

ZIP Area

174

Density / Sq Mi

$42,188

Median Household Income

$26,389

Median Earnings

$2,045

Median Rent

$191,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Marina - Premier waterfront dining with a full-service marina, supporting both land and boat-based traffic.

Where is this marina located?

The property is located at 17 Atlantic Avenue Wachapreague, VA.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: 10,378± SF restaurant building on 0.87± acres of commercially zoned waterfront land along the Wachapreague Channel; 196‑seat waterfront restaurant with indoor and outdoor dining, full‑service bar, banquet space, and commercial kitchen; 16‑slip marina with fuel service and a boat pump‑out station, plus waterfront outdoor decks overlooking the water