6714 Main StGloucester, VA 23061

Property Details for 6714 Main St

Year built

1932

Lot size

0.20 AC

Zone code

B-2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

33926

APU

33926

Description

This exceptional 2,600 square foot restaurant, located at 6714 Main St in Gloucester, Virginia, presents a unique investment opportunity. Built in 1932, this B-2 zoned property boasts a rich history and a loyal customer base, having operated almost continuously since its inception. The property sits on a 0.2-acre lot and offers a modern kitchen, perfectly equipped for continued culinary success. An added bonus is an upstairs apartment, ideal for owner occupancy or generating additional rental income. Situated in the heart of Gloucester Village, a certified Main Street community, this restaurant benefits from a thriving downtown area filled with independent businesses and a strong local economy. Its prime location offers easy access to county offices, the courthouse, and Riverside Walter Reed Hospital, all within five minutes. Furthermore, it's within walking distance of several popular local businesses, including Ace Hardware, Gloucester Brewing Company, Kelsick Market, and Ware Neck Produce, ensuring high foot traffic and visibility. The asking price is $550,000, translating to $211.54 per square foot. This is a rare chance to acquire a well-established, profitable restaurant in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,731,347

  6.5%

  $2,521,243

  7%

  $2,341,154

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,841,160

  Geo Method

  $3,703,193

• Alternative Use

  Use

  Valuation

  Residential

  $2,126,763

  Hospitality

  $1,948,103

  Educational

  $1,620,799

  Medical

  $1,676,541

  Retail

  $2,521,243

Location Insight

City

Gloucester

County

Gloucester

State

Virginia

Latitude

37.4126

Longitude

-76.5227

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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