Remarks

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!

Details

MLS#: VACU2007892
Price: $1,389,150

Year Built: 1934

County: CULPEPER
Tax Fee: 5294.0