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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

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    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.
    (434) 978-7900
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    301 7Th St SW Charlottesville, VA 22903
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    Charlottesville, VA 22903
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    301 7Th St SW Charlottesville, VA 22903
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