316-318 E Main St - Office FOR SALE


Charlottesville, VA 22902- Downtown Charlottesville
$4,500,000 USD
434-262-3607
316-318 E Main St, Charlottesville, VA for Sale
$4,500,000 USD
Office - FOR SALE
1/32
null | 6.48% Cap Rate

NEW


316-318 E Main St
Charlottesville, VA 22902
Downtown Charlottesville


HIGHLIGHTS

  • Prominent location with frontage on both the Downtown Pedestrian Mall and Water Street totally over 57 feet of high visible frontage.
  • Site is zoned for the maximum height and density allowed in the City, allowing for a variety of intensive commercial and residential uses
  • Excellent Value-add opportunity for investor, owner-occupier or developer.
  • Opportunities for the property could include leasing the existing vacant spaces, redevelopment, and conversion to an alternate by-right use
  • Priced well below the 2025 assessment.
  • Well-positioned investment opportunity in a supply constrained downtown Charlottesville market

OVERVIEW

The Hardware Store building at 316 E Main Street a prominent 4-story building situated right on the Downtown pedestrian mall with multiple amenities within walking distance and beautiful viewsof  the Blue Ridge Mountains,  the Charlottesville skyline and only a short distance from the highly acclaimed University of Virginia, a public research university. Premier location and top-class retail and office spaces make this a rare investment or development opportunity. Currently zoned DX (Downtown Mixed Use).  DX zoning includes a by-right building height of 10 stories for the maximum height and density allowed in the City, allowing for a variety of intensive commercial and residential uses. A very rare investment opportunity in a supply constrained downtown Charlottesville market.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

6.48%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

A

YEAR BUILT

1908

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

DX

APN/PARCEL ID

280-042-000

ASK ABOUT THIS PROPERTY

Bartholomew McIntoshColliers | VirginiaMore Info
434-262-3607

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Bartholomew McIntoshColliers | VirginiaMore Info
434-262-3607

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.