MCRES Brokers Sale of Michie Tavern in Charlottlesville Area for $4.25 Million
Venerable four-building property built in 1784 originally functioned as a tavern, restaurant, and inn before being converted into Michie Tavern with pub and gift shop in 1968
MacKenzie Commercial Real Estate Services (MCRES) has brokered the sale of Michie Tavern, a four-building property located at 683 Thomas Jefferson Parkway in Charlottesville, Virginia to Shah Family Holdings for $4.25 million. The nearly seven-acre property, which has operated as a restaurant, tavern and gift shop by the MacDonald Family since 1968, was constructed in 1784 and originally functioned as a tavern, restaurant, and inn. MCRES is a Maryland-based full-service commercial real estate brokerage firm which also operates a regional office in Charlottesville, and Sam Orr, Executive Vice President, and Brian Thomas, Real Estate Advisor of the Charlottesville office marketed the site and handled negotiations on behalf of the owner, together with Benton Downer of Downer & Associates.
The new ownership group, headed by Charlottesville businessman Hasmukh Shah, pledges to preserve the nearly 60-year legacy of Michie Tavern and its previous operators. Michie Tavern, as well as the tavern pub and gift shop will remain intact with the menu, operating hours, and staff consistent with the experience offered by Greg MacDonald, the grandson of the original owner.
“We achieved the best possible outcome with this sale on many levels,” explained MacKenzie’s Orr. “Michie Tavern is an iconic landmark, and we received an immense amount of interest in the property. Throughout the entire process, our absolute priority was ensuring that we represented Greg and his family the right way,” Orr added. “It was incredibly important to us that the buyer we secured would be a good steward of Michie Tavern moving forward and carry on that legacy Greg built over 60 years. This conclusion represents tremendous news for the many customers that have fond experiences of Michie Tavern, as well as the greater Charlottesville area which deserves restaurants with rich traditions and one-of-a-kind environments.”
“Michie Tavern is a cornerstone of our community’s history and, while representing ownership in this sale, we were extremely cognizant of the restaurant’s legacy and the desire to identify a buyer that matched the passion, meticulous care for the property, and connection to its patrons exemplified by Greg and his team,” Orr added. “Representing Greg in this sale was an absolute privilege; he is a genuinely wonderful owner who has poured incredible energy into preserving the historic nature of Michie Tavern. We are proud to have played a role in preserving the legacy of this historic property.”
In 2022, Michie Tavern was recognized as the “Restaurant of the Year” by the Virginia Restaurant, Lodging and Travel Association. The main restaurant area is just over 22,000 square feet of space and includes more than 17,000 square feet of retail and nearly 5,000 square feet of exhibit space. The restaurant can accommodate 340 diners and the parking lot can support 150 vehicles. Nearly 100,000 people reside, and additional 130,000 work within a five-mile radius of the property.
The MacKenzie Companies operates five full-service divisions addressing all real estate asset classes including MacKenzie Commercial Real Estate Services, MacKenzie Management, MacKenzie Capital, MacKenzie Contracting and MacKenzie Investment Group. For additional information, visit Virginia | MacKenzie Commercial Real Estate
