An old building may soon see a rebirth in the Town of Madison.
Earlier this month, the former Madison General Store on Washington Street was sold at auction, along with two adjacent parcels. The store has been vacant for a number of years. The auction was hosted by Nicholls Auction and was online-only running approximately six weeks. According to auctioneer Tony Wilson, the 18,000 sq. ft. general store on 1.9 acres and an adjacent 1.073 acre parcel were sold to the same bidder for $654,000. A four bedroom, two-and-a-half bathroom home on 1.619 acres was sold to a separate bidder for $277,750. The buyer of the house remains unknown, but the purchaser of the store and lot has been identified as Madison County resident Rob Miller.
Miller, who served in the Navy and is in commercial real estate development, said the purchase has been on his mind for some time. He drives past the building daily taking his children to school and hopes it will become an epicenter for the county. His vision, dubbed Madison Market, includes both indoor and outdoor space with food and beverage options similar to the food hall concept that has become popular in other areas.
“I want it to be a place families can come after school or sports,” Miller said. “A local place to go, come in as a family and [also] capture some of the weekend traffic.”
Ideas for the food hall concept include a coffee cafe, butcher shop, dessert place, steakhouse and more. He envisions partnering with existing businesses or entrepreneurs who don’t want to operate their own locations, but would rather have space in a larger location. He said the intention is not to compete with existing local businesses, but rather work together.
The overall goal is also not about the money for Miller. He’s much more concerned with contributing to the local taxbase to help fund expenses like teacher salaries. He said it’s likely folks are spending money at restaurants and businesses in Greene or Culpeper counties and he’d rather see that money be captured in Madison.
Miller is expected to close on the property next month and plans to hit the ground running, first bringing in an architectural firm. Some of the development timeline will rely on the completion of the county’s wastewater treatment plant expansion which is ongoing. He said while a proforma will determine the amount of equivalent dwelling units, EDUs, that are needed for the project, it’s likely that number will be 20-25, more than what is currently available. When the plant upgrade is completed, more EDUs will become available. Miller is hoping to be able to obtain some of those. County officials have talked about reserving a portion of the new EDUs for non-residential development. No exact plan has been established with the Rapidan Service Authority which operates the plant.
Miller also plans to seek grant opportunities to help fund the project. He said it’s likely to be two and a half years before the vision for the market comes to fruition.
To be as transparent as possible, Miller has created a website which features the concept and vision for the property and will be updated as work progresses. He also plans to post updates on social media. For more information, visit https://madisonmarket.co/.
