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    218 Ridge St Charlottesville, VA 22902

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    For Sale
    $1,425,000

    Spacious property with mixed-use zoning in downtown Charlottesville, Virginia.

    Property size:
    7,334 SF
    Lot size:
    0.22 Acres

    Property Features for 218 Ridge St

    General Information

    Size
    7,334 SF
    Lot size
    0.22 Acres

    Source: REAL ESTATE III, INC. Agent Tim Carson

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

    Overview

    Versatile Commercial Property in Charlottesville

    Located in downtown Charlottesville, VA, 218 Ridge Street offers 11,578 square feet of space. The property is zoned Commercial Mixed Use (NX-8), allowing for a range of uses. Its location on the Entrance Corridor and proximity to the Downtown Mall provide potential buyers with an opportunity to leverage its location. The building features one level with a fully finished basement and is positioned on a corner lot, providing visibility from multiple directions. Onsite parking is available. Currently leased on a month-to-month basis as an Assisted Living Facility, the flexible zoning allows for potential conversion into offices, retail spaces, or residential units. The zoning area is designed for Moderate Mixed use, encouraging pedestrian-friendly storefront environments. The site allows for up to 8 stories. There is potential to build 20 apartments on this site, or expand and continue the use of the living facility and add more stories of space. The property size is 7,334 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Monticello Ridge Crossing ... Assisted Living Facility

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Similar Places Nearby

    Martha Jefferson House, Joseph L Hall, MD, Monticello Ridge Crossing Fac, Jessica J Dreicer, MD, Daniel M. Becker, MD

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville
    State
    Virginia
    Longitude
    -78.4856244
    Latitude
    38.0288874

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    FAQs

    What type of property is this?
    Assisted living facility - Spacious property with mixed-use zoning in downtown Charlottesville, Virginia.
    Where is this assisted living facility located?
    The property is located at 218 Ridge St Charlottesville, VA.
    What is the asking price?
    The asking price for this property is $1,425,000.
    What are key features of this property?
    This property features: - Prime downtown Charlottesville location on the Entrance Corridor, near the Downtown Mall, offering high visibility and accessibility.; - Versatile Commercial Mixed Use (NX-8) zoning allows for a wide range of uses including offices, retail, residential, or continuation as an Assisted Living Facility.; - Substantial **11,578 sq ft property with a fully finished basement**, providing ample space for various business or residential needs.
    (434) 465-0846
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    218 Ridge St Charlottesville, VA 22902
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    Charlottesville, VA 22902
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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
    218 Ridge St Charlottesville, VA 22902
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