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301 7Th St SW Charlottesville, VA 22903

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For Sale
$3,500,000

Two buildings with redevelopment potential near UVA and Downtown Mall.

Lot size:
0.11 Acres

Property Features for 301 7Th St SW

General Information

Lot size
0.11 Acres

Source: THE NEW HOUSE COMPANY Agent Amy Mcleskey

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Charlottesville Mixed-Use Redevelopment Opportunity

This offering includes two buildings and an adjacent vacant lot, presenting diverse possibilities due to recent zoning changes. Situated in a desirable location between the University of Virginia and the Downtown Mall, the property currently features two warehouse spaces, four apartments, and office spaces. The R-B zoning of the two separate parcels allows for up to 6 dwelling units per lot, potentially accommodating 12 units in total, subject to city guidelines. Additional units beyond the standard allowance may also be possible if specific criteria are met. The current non-conforming use status opens further opportunities, including commercial and warehouse applications within Charlottesville. The existing flex space is suitable for an owner-occupant, offering a blend of office, shop, and warehouse functionalities alongside rental units. The property offers potential for high cap rate. The adjacent vacant lot is ideal for parking.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Office space

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

UVA Medical Records, City Center Storage, Glass Building Unit 112

Location Insight

  • Map
  • Local Demand
City
Charlottesville
County
Charlottesville
State
Virginia
Longitude
-78.489104
Latitude
38.034088

FAQs

What type of property is this?
Warehouse - Two buildings with redevelopment potential near UVA and Downtown Mall.
Where is this warehouse located?
The property is located at 301 7Th St SW Charlottesville, VA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: - Prime location between UVA and Downtown Mall.; - High investment potential with a cap rate that can easily reach 11.4%.; - Zoning R-B allows for up to 12 dwelling units (6 per lot) with potential for more.
More about this property
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