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307 Mason Ave 4,920 SF 100% Leased Office Building Cape Charles, VA 23310 $687,612 CAD ($139.76 CAD/SF)

Investment Highlights
- Directly across from the Cape Charles Town Harbor, providing unmatched visibility and connectivity to waterfront activity.
- Eligible for valuable incentives such as historic tax credits, a 10-year real estate tax abatement, and Enterprise Zone renovation rebates.
- Surrounded by historic district attractions, including the neighboring Palace Theater and retail destinations, creating strong foot traffic.
- Flexible investment potential with existing commercial use, possibilities for mixed-use development, condo conversion, or third-story addition.
Executive Summary
Prime opportunity in the heart of downtown Cape Charles location, location, location! This two-story commercial property is ideally situated directly across from the Cape Charles Town Harbour, placing you in one of the Shore's most desirable and visible locations. Rich with potential and surrounded by the charm and energy of the historic district, this property offers an exceptional investment opportunity. Eligible for historic tax credits, a 10-year real estate tax abatement, and Enterprise Zone renovation rebates, the possibilities for redevelopment are extensive. Renovate the existing structure and explore the opportunity to add a third-story addition with potential harbor views. Town approvals are needed for renovations, this property is ready for your vision. Whether you are seeking retail, restaurant, office, mixed-use, or income-producing potential, this is a rare chance to invest in the continued growth and vibrancy of historic downtown Cape Charles. Second floor is gutted and would be a perfect space for a condo. Build a 3rd story addition & view the harbor and legendary Cape Charles sunsets!! Commercial building is located next to Historic Palace Theater to the west and The Boardwalk (retail/gifts) to the east. Currently leased to popular 23310 Shop in partial space downstairs. Building has deeded rear alley access.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
4,920 SF
Building Class
B
Year Built
1920
Price
$687,612 CAD
Price Per SF
$139.76 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,100 SF
Building FAR
1.88
Lot Size
0.06 AC
Opportunity Zone
Yes
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 83A3-1-614B | Improvements Assessment | $431,032 CAD |
| Land Assessment | $136,420 CAD | Total Assessment | $567,452 CAD |
Property Taxes
Parcel Number
83A3-1-614B
Land Assessment
$136,420 CAD
Improvements Assessment
$431,032 CAD
Total Assessment
$567,452 CAD
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307 Mason Ave
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