HISTORIC WATERFRONT BUILDING IN CAPE CHARLES, VA Start Price - Current Price - Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Friday, November 14, 2008 End Time Sunday, December 14, 2008 Location Cape Charles, Virginia See more about 'HISTORIC WATERFRONT BUILDING IN CAPE CHARLES, VA' Description Cape Charles is located on the Chesapeake Bay ten miles north of the Chesapeake Bay Bridge Tunnel and 28 miles from the Hampton Roads metro area.   The town has been touted as the next Key West on the Eastern Shore and is surrounded on three sides by water; the Chesapeake Bay, Cape Charles Harbor and the Atlantic Ocean.  Cape Charles is typical of many turn-of-the-century towns offering retail outlets, offices, restaurants and a bank.   The town experienced a renaissance in the past several years with rapidly growing real estate primarily due to the Bay Creek subdivision, two top-rated signature golf courses and a world-class marina.   Plans are being reviewed by the town for two new projects:  a “boatel” on the town harbor to service visiting yachts; and a Mason Avenue boutique hotel, retail, and 100+ upscale condos.   Mason Avenue is the “main street” in the downtown area of quaint Cape Charles consisting of only nineteen commercial properties within a certified historic area.  The property for sale is located on Mason Avenue between the recently restored Cape Charles Hotel and the elegant Cape Charles Coffee House and Restaurant and overlooks the harbor.  The two-story brick building from the early 1900’s was formerly a McCrory’s five and dime retail store and the project was approved by the town for conversion to a 3-story upscale retail-residential building consisting of four luxury split-level condos and first floor retail.   Architectural plans may be transferred to purchaser. The project is ready now for transformation by a developer/builder as the major demolition has been completed.  Tax incentives and enterprise zone development grants are also available to purchaser.  The property was purchased in 2005 and the owners have invested more than $1,200,000.  More information is available to interested parties.  The photos provided are architectural renderings only. Place a Bid!