Listing Agency: Charlottesville Show Phone

Listed By: Leigh Hughes · License #225092147 Show Phone

Source: Colliers

Added: May 19 Changed: Aug 8 Last Checked: Jul 16 at 9:17AM

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Investment Insights

Based on property information with market context.

This commercial real estate property offers office space for lease. The property provides a total area of 2334 square feet, suitable for office units or office spaces.

Key Highlights

• Office Space For Lease

Property Analytics

Property Profile

Current Use

The Warren Firm: Car ... Law Firm

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Pet Grooming Service Mobile Phone Store Clothing & Fashion Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$1.80 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

3,098

Businesses Nearby

Explore this area Business Placement

Demographics for 22902, VA

22,457

Population

12,134

Households

1.9

Avg Household Size

37

Median Age

57%

College-Educated

92%

High-School Grad

64.3 sq mi

ZIP Area

349

Density / Sq Mi

$91,162

Median Household Income

$52,555

Median Earnings

$1,572

Median Rent

$392,800

Median Home Value

Market

Lease Benchmarks for Charlottesville, VA

$13.38 /SF/Yr

Avg Asking Price

$12–$17.5 /SF/Yr

Price Range

9,007 SF

Avg Space Size

This space is priced 10% below the average of $13.38 /SF/Yr.

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the lease rate? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Office space available for lease.

Where is this office units located?

The property is located at 516 Locust Ave Charlottesville, VA.

What is the lease rate?

The lease rate is $2,334/Mo.

What are key features of this property?

This property features: Office Space For Lease