936 Old Ferry Road, GRIMSTEAD, VA 23064 (MLS # VAMH2000104)

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PRICE $450,000 BEDS 4 BATHS 2 HOME SIZE 2,001 sqft LOT SIZE 1.04 ac Request More Info Schedule a Showing

Subject to online sale ending August 7 at 3:00 PM. List price is the opening offer amount and may not reflect the final sales price. Property tour is scheduled for July 2nd at 2:00 PM. Seller is considering presale offers. This extraordinary 1.045-acre waterfront parcel represents a once-in-a-lifetime opportunity to secure premium Chesapeake Bay frontage on Virginia's coveted Gwynn's Island"”known as the "Jewel of the Middle Peninsula." With its protected location on Hills Bay and unobstructed western exposure, the property delivers breathtaking sunset views 365 days a year. The existing 2,001 sq ft home (built in 1953, updated in 2024) offers immediate rental income while you design your custom waterfront estate. This well-maintained residence features 11'+ ceilings, updated systems, and proven rental history, making it an ideal turnkey investment. When you're ready to build, you'll have over an acre of pristine waterfront with potential for expansive decks, floor-to-ceiling windows, and private deep-water access for boating. A concept house plan is available to inspire future builds. Accessible only by swing bridge, this exclusive island community of approximately 600 residents offers rare privacy and charm. The protected waters of Hills Bay are perfect for kayaking, fishing, and swimming while offering direct access to the main Bay. Conveniently located just 60 minutes from Williamsburg and Yorktown, 60-90 minutes from Richmond, Norfolk, and Virginia Beach, and 3 hours from Washington DC. The parcel features 200'+ of waterfront, hardwood floors under the carpet, two pull-down attic spaces, an exterior storage shed, R7-One Family Residential zoning, and mature landscaping for added privacy. Mathews County, known as the "Pearl of the Chesapeake," offers over 200 miles of shoreline and strong year-round rental demand. Gwynns Island combines exclusivity, lifestyle, and investment potential, making this an extraordinary opportunity to own a rare piece of Virginia's most prestigious waterfront community.