303, 305, 307 S. Main St And 115 E. Locust Street
Culpeper, VA, 22701
$
1,389,150
Bedrooms--
Baths--
Sq
25,000
Monthly Estimate*
$
8,666
for $1,389,150. This 25,000 square foot building was built in 1934 on a lot size of 0.67.
This indeed a once in a generation offering. In the heart of the thriving historic district of Culpeper, a community continually designated as a must visit, stands a fully renovated icon...the State Theatre complex. It was fully renovated in 2013 to its former art-deco beauty and now standing in fabulous condition and repurposed for a wide-ranging grouping of uses. Its visibility along heavily traveled Main Street is unrivaled. Foot traffic is constant as it is steps removed from Culpeper's famous Davis Street boutique and restaurant attractions. This scene has now expanded to include South Main Street and "The State Complex" is front and center.
The Complex is zoned C2, Historic Commercial District and approved for retail, restaurants, administration, professional, sports and recreation, arts, and medical uses...very broad ranging while staying true to the historic ambience. Current tenants include a retail boutique, a local art foundation, a non-profit, a popular bar and restaurant with perhaps the best patio seating in Culpeper, looking down on the bustling Main Street with Blue Ridge Mountains in the distance.
A very integral part of the complex is STATE CLIMB, a membership base of enthusiasts for free form climbing and aerial performance art. This business is housed in a near perfect setting taking full advantage of the former theatre stage and associated multi-story back stage area. The setting is complimented by modern restrooms and changing facilities. It has become a premier regional draw.
The former theatre auditorium area is now devoid of seating and has been made ready on the flat tiers and soaring overheads to accommodate wide ranging uses: gymnastics, volleyball, pickle ball, corn-hole and many other indoor recreational activities. In addition the spaces are near perfect for social gatherings such as parties of all types (wedding, dance, birthdays, etc.). Space can easily accommodate inflatable bounce houses and slides.
There is a surprise sheltered outdoor alley that is perfect for full development as beverage and light fare concession. The are private and modern administrative suites scattered within the complex.
Because of location and condition, spaces will command top tier rents. Most, if not all current tenants will desire to remain in place with any change of ownership.
Note: There are two master leases in place with The State of Culpeper LLC being the lessor of both.
As we began, this is an exciting and most unique investor offering!
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Commercial
Contingent
Flex,Hair Salon and Spa,Health Club,Institutional
Features
Interior
Heating Fuel
Electric
Natural Gas
Hot Water
Other
Natural Gas
Electric
Heating Y/N
Y
Central Air Y/N
N
Total Restrooms
7
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General
Sewer
Public Sewer
Heating
Zoned
Wall Unit
Cooling
Ductless/Mini-Split
Multi Units
Zoned
Wall Unit
Utilities
Cable TV Available
Electric Available
Natural Gas Available
Water Available
Possession
Settlement
Zoning
C2
Construction Materials
Combination
Block
Composition
Concrete
Dryvit
Masonry
Mixed
Year Built
1934
View
City
Street
Topography
Typical urban lot
Property Subtype
Other
Tax Year
2023
Ownership
Fee Simple
Cool Fuel
Electric
Business Type
Flex
Hair Salon and Spa
Health Club
Institutional
Medical
Other/General Retail
Professional
Recreation
Restaurant/Bar
Theater
Other
Accessibility
Elevator
Entry Slope <1'
Level Entry - Main
Low Pile Carpeting
36 + wide Halls
Accessible Switches/Outlets
48 + Halls
County
CULPEPER
New Construction
N
Property Type
Commercial Sale
Water Access Y/N
N
Status
ACTIVE UNDER CONTRACT
Directions
From intersection of Davis and Main
go South on Main to State Theatre of East side mid-block
City
CULPEPER
Disclosures
Sell Entirely
Historic Property
Other
Lot Size Units
Square Feet
Lot Size Square Feet
29185.20
Tax Annual Amount
5294.0
Price Per Sq Ft Total AG
55.57
Acceptable Financing
Other
Historic Y/N
Y
Lease Considered Y/N
N
Vacation Rental Y/N
N
Location Type
Business District
Standard Status
Active Under Contract
Year Built Source
Estimated
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Exterior
Lot Features
Level
Premium
Road Frontage
Zero Lot Line
Rear Yard
Water Source
Public
Type of Parking
On Street
Parking Lot
Water View Y/N
N
Building Area Total
25000.00
Lot Size Acres
0.67
Road Surface Type
Access - On Grade
Black Top
Lot Size Source
Estimated
Waterfront Y/N
N
Door Features
Double Entry
Insulated
Road Responsibility
City/County
Navigable Water Y/N
N
Water Oriented Y/N
N
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* Excluded Features
Affordability Calculator
- Monthly Principal & Interest
- $8,666
- Monthly Property Taxes
- $441
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save
Nearby
Commerical listings in Culpeper, VA
Average List Price
$859,754
Percent of Sale Price
38%
About Culpeper, VA
18,529
Population
82%
Since 2002
$
55,381
Median Income
35.92
Median Age
37%
Households with Children
Trends Information provided by ATTOM Data Solutions.
2136830
Elementary School
2137124
Middle School
Unknown High School
High School
Pricing History
| Date |
Price |
Price Change |
Description |
|
9/26/2024
|
$1,389,150
|
-10.00%
|
Price Down
|
|
9/13/2024
|
$1,543,500
|
-10.00%
|
Price Down
|
|
8/29/2024
|
$1,715,000
|
-28.39%
|
Price Down
|
|
5/29/2024
|
$2,395,000
|
|
Listed Price
|
303, 305, 307 S. Main St And 115 E. Locust Street, Culpeper, VA, 22701 is a Commercial Property for sale at $1,389,150 with 25,000 sqft and a lot size of 0.67. 303, 305, 307 S. Main St And 115 E. Locust Street was built in 1934. The property's zip code is 22701 which is in Culpeper, VA