favourite this post$325000GWYNNS ISLAND B&B WATERFRONT (MATHEWS COUNTY VIRGINIA)hide this posting
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Located on a beautiful island in the Chesapeake Bay is a fabulous opportunity to own 2 parcels of land with Million Dollar Views and an a once in a lifetime business location. Gwynns Island is approximately 4 miles long off Mathews County. It is accessed by a recently rebuilt antique swing bridge and is surrounded by several bodies of water including the Chesapeake Bay and Milford Haven. Boaters, fisherman, kayakers and all water lovers find their happiness here!
The two lots total .55 acres and contain 2 cinder block building that were formally a fishing camp and a bait and tackle shop. Although they are only feet from the waters edge, a redevelopment plan has been approved by Mathews County to raze the existing buildings and rebuild in their footprint 2 much larger and more substantial buildings. The approved plan calls for each building to have 3 stories (two and a half stories with shed dormers) and a total of 6000 square feet. Each building is considered a single family residence and will have 6 bedrooms and 6 bathrooms. Since the local zoning allows for a BandB business, the buildings can be used as rental units for on and off season living. Considering that there is only one other BandB and no other hotels in the county, it has potential for a substantial income. Both first floors are designed as event space so hosting weddings and corporate meetings are all possible income generation. Other options include building 1 or 2 single family houses without a business included. Either way the views are fabulous!
The current architectural style is going to be Craftsman Revival using a vertical board and batten design. I have included photos of my designs although the White House photos are most representative of my intentions. (3 levels instead of 2)
The selling price is $325,000 for both parcels and it includes all of the engineering studies and plans that were used for the redevelopment approval, the current septic permits, the VDOT entrance permits, the current proposed floor plans and elevation drawings and all documents relating to the building of the new project. Septic easement is across the street and a well is already installed on site.
There is also the remnants of a dock and bulkhead which are all grandfathered for easy permitting and rebuilding.
The seller is a licensed Virginia Class A contractor and is available to assist in building the entire project from permitting to completed Certificate of Occupancy. The seller is also considering taking on an investor or a partner. Detailed cost estimates can be furnished to interested parties.
do NOT contact me with unsolicited services or offers