Historic Mixed-Use Café &
For Sale
$995,000
Pending
31 MAIN STREET, Sperryville, VA 22740
Historic Engham House includes a ground-floor coffee shop, upstairs offices, and a second-floor vacation rental apartment.
Property Size3,846 SF
Days on Market50
Property Features for 31 MAIN STREET
General Information
Standard status
Pending
Size
3,846 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Business Included
Yes
Building Details
Year Built
1858
Listing Agency:
Cheri Woodard Realty
Listed By:
Cheryl F Woodard
(540) 987-8500
Source:
Cummingsrealtors
Added: Jul 25
Changed: Sep 11
Last Checked: Sep 12 at 5:48AM
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 Cheri Woodard Realty
Investment Insights
Based on property information with market context.
Before&After offers a rare mixed-use setup in the historic Engham House, a Virginia vernacular home built circa 1857 with a mercantile addition circa 1900. The ground floor is home to a turnkey, fully equipped and fully staffed coffee shop with an attendant commercial kitchen, serving coffee, artisanal baked goods, salads, soups, and sandwiches. The upper levels include three rental offices and a common restroom, accessed from a separate 24-hour entry that does not interfere with the coffee shop, along with a conference room available by request for office tenants.
A separate second-floor vacation rental apartment with its own secure electronic-lock access is currently available as a four-room Airbnb unit. The layout includes one bedroom, a living room/kitchen, entry room, and bathroom with shower, and it could be converted into a long-term rental apartment.
The property is registered as a Historic Building in the Sperryville Historic District on Main Street. The lot fronts the Thornton River, and the western terminal of the Sperryville River Trail is on the property. Recent updates noted include HVAC, water filtration, a metal roof, and siding repair and painting, along with replacement of both front and side porches and rebuilding of the stone retaining wall along the river with added stairs for guest access. The house includes 31 solar panels on the roof, and the listed price includes the turnkey operation and the historic real estate; some furniture and fixtures in the vacation rental apartment do not convey.
A separate second-floor vacation rental apartment with its own secure electronic-lock access is currently available as a four-room Airbnb unit. The layout includes one bedroom, a living room/kitchen, entry room, and bathroom with shower, and it could be converted into a long-term rental apartment.
The property is registered as a Historic Building in the Sperryville Historic District on Main Street. The lot fronts the Thornton River, and the western terminal of the Sperryville River Trail is on the property. Recent updates noted include HVAC, water filtration, a metal roof, and siding repair and painting, along with replacement of both front and side porches and rebuilding of the stone retaining wall along the river with added stairs for guest access. The house includes 31 solar panels on the roof, and the listed price includes the turnkey operation and the historic real estate; some furniture and fixtures in the vacation rental apartment do not convey.
Key Highlights
- Historic Engham House (c. 1857) with circa 1900 mercantile addition, registered in the Sperryville Historic District.
- Ground‑floor Before&After coffee shop with attendant commercial kitchen; turnkey, fully equipped and fully staffed.
- Upper‑level rental offices with 3 offices plus common restroom, accessed by a 24‑hour distinct entry; rent range $350–$450/mo.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,495
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,029,900
$1.0M
Cap Rate 7%
$735,643
$735.6K
Cap Rate 9%
$572,167
$572.2K
Market Conditions
NOI Build-Up for 3,846 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$80.3K $20.88/SF
− Vacancy
−$11.6K −$3.03/SF
EGI
$68.7K $17.85/SF
− OpEx
−$17.2K −$4.46/SF
NOI
$51.5K $13.39/SF
Area
Rappahannock County, VA
Vacancy
14.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,029,900
Cap Rate 7%
$735,643
Cap Rate 9%
$572,167
Alternative Uses
Best Use
Specialty Retail
$2.14M
$1.87M – $2.49M
NOI $149,532 @ 7.0% cap · market cap 15.03%
Second Best
Office B
$735.6K
$643.7K – $858.3K
NOI $51,495 @ 7.0% cap · market cap 5.18%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22740, VA
1,240
Population
583
Households
2.1
Avg Household Size
53
Median Age
38%
College-Educated
98%
High-School Grad
73.5 sq mi
ZIP Area
17
Density / Sq Mi
$96,220
Median Household Income
$49,569
Median Earnings
$1,354
Median Rent
$398,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Central Coffee Roasters — 11836 Lee Hwy, Sperryville, VA 22740
- Firth River Coffee Company — 3 River Ln, Sperryville, VA 22740
Frequently Asked Questions
What type of property is this?
Coffee shop - Historic Engham House includes a ground-floor coffee shop, upstairs offices, and a second-floor vacation rental apartment.
Where is this coffee shop located?
The property is located at 31 MAIN STREET Sperryville, VA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Historic Engham House (c. 1857) with circa 1900 mercantile addition, registered in the Sperryville Historic District.; Ground‑floor Before&After coffee shop with attendant commercial kitchen; turnkey, fully equipped and fully staffed.; Upper‑level rental offices with 3 offices plus common restroom, accessed by a 24‑hour distinct entry; rent range $350–$450/mo.
