316 E Main St - Office FOR SALE


Charlottesville, VA 22902- Downtown Charlottesville
$6,500,000 USD
434-996-3333
316 E Main St, Charlottesville, VA for Sale
$6,500,000 USD
Office - FOR SALE
1/52
null | 5.23% Cap Rate

316 E Main St
Charlottesville, VA 22902
Downtown Charlottesville


HIGHLIGHTS

  • Fronts on downtown walking mall
  • Completely remodeled in 2008 to become a Class A building.
  • Much of the space is open with exposed ceilings & walls.

OVERVIEW

Bldg. is 50% occupied. The major tenant agreed to a buy-of out the remaining 3 years of a long-term lease due to a post Covid employee "work from home business plan."Their lease covered the 3rd & 4th floor. So it is available for occupancy by a new user owner by settlement. New Leasing details are available through the listing broker. Two new tenants started leases on July 1, 2025. The Projected Gross Scheduled rent is $490,000, forecasting rental income. The projected NOI is $330,000. CAP Rate is 5.23% with those projected rents. Owner will consider negotiating a guaranteed master lease for the vacant space of 11,920 SF.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$228 USD /SF

CAP RATE

5.23%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Former Hardware Store

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1908

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

DH

APN/PARCEL ID

280-042-000

ASK ABOUT THIS PROPERTY

Hock Hockensmith, CCIMHoward Hanna|Roy Wheeler Realty Co.More Info
434-996-3333

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Hock Hockensmith, CCIMHoward Hanna|Roy Wheeler Realty Co.More Info
434-996-3333

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