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    400 People Pl Charlottesville, VA 22911

    Sponsored
    For Lease
    $20 SF/Yr

    Class A Retail, Land Lease/BTS Available

    Lot size:
    50,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 4-acre, Class A commercial property, located at 400 People Place, offers a unique opportunity for build-to-suit or land lease development. The site is zoned NMD NEIGHBORHOOD MODEL DEVELOPMENT and boasts stunning views of Monticello and the Blue Ridge Mountains. The property includes a total of 50,000 square feet of potential building space, with a minimum divisible unit of 11,920 square feet and a maximum contiguous space of 51,231 square feet – currently entirely vacant. The site is part of Pantops Park, a two-phase development. Phase I, completed in 2008, houses Virginia National Bank. Phase II, where this opportunity resides, is designed to accommodate a variety of office, retail, and professional businesses within a four-story building. The development features a park-like plaza with walking paths and interconnected parking, providing 60 total parking spaces. This build-to-suit or land lease option presents a rare chance to establish a presence in a thriving, well-planned community with an attractive design and convenient amenities. The APN is 07800-00-00-01600.

    Property Features for 400 People Pl

    General Information

    Property type
    Medical space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    50,000 SF
    Class
    A
    Total Rate
    83333.33

    Building Details

    Stories
    4

    Unit(s) available at that property

    Space
    Land Lease or Build to suit
    Size
    51,231 SF
    Rate per SF
    $20

    HighLights

    • Retail, Land, and Special Purpose property with multiple tenancies.
    • 50,000 total square feet, with 51,231 square feet currently vacant, divisible into units as small as 11,920 square feet, and up to 51,231 contiguous square feet.
    • 4‑acre lot, Class A construction, 4 stories, and 60 parking spaces.
    • Build‑to‑suit or land lease options available.
    • NMD (Neighborhood Model Development) zoning, APN 07800‑00‑00‑01600.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.4530987
    Latitude
    38.0333881

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    FAQs

    What type of property is this?
    Medical space - Class A Retail, Land Lease/BTS Available
    Where is this medical space located?
    The property is located at 400 People Pl Charlottesville, VA.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Retail, Land, and Special Purpose property with multiple tenancies.; 50,000 total square feet, with 51,231 square feet currently vacant, divisible into units as small as 11,920 square feet, and up to 51,231 contiguous square feet.; 4-acre lot, Class A construction, 4 stories, and 60 parking spaces.
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    Charlottesville, VA 22911
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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
    400 People Pl Charlottesville, VA 22911
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