Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    218 Water St Charlottesville, VA 22902

    For Sale
    $3,265,000

    Historic downtown Charlottesville mixed-use building.

    Property size:
    12,315 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional Class A, six-story building at 218 W Water St, Charlottesville, VA 22902, offers 12,315 square feet of versatile space, currently vacant. Boasting six units across one building on a 0.71-acre lot, this property presents a unique redevelopment opportunity. Zoned WSH, it allows for creative repurposing as retail, office, residential (with potential for six units), or co-working space. The building's history includes use as a hotel and office space, showcasing its adaptability. Located just one block from the historic downtown walking mall, this prime location offers unparalleled access to Charlottesville's vibrant city center. The asking price is $3,265,000, translating to $265.12 per square foot. Parking is available at a ratio of one space per 1,000 square feet. The seller is open to considering redevelopment and co-development proposals. This is a rare chance to acquire a significant property in a thriving Virginia market. The property includes a second-floor and mezzanine area previously occupied by World Strides. This substantial space offers a blank canvas for a variety of uses. The building's history and location combine to create a compelling investment opportunity. Serious inquiries are encouraged.

    Property Features for 218 Water St

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,315 SF
    Class
    A
    Lot Size
    30,928 SF

    Building Details

    Buildings
    1
    Stories
    6
    Units
    6

    HighLights

    • High‑traffic location with excellent visibility on a major thoroughfare.
    • Recently renovated interior with modern finishes and updated systems.
    • Ample on‑site parking available for tenants and customers.
    • Flexible floor plan adaptable to various business needs.
    • Strong tenant base with long‑term leases in place.
    • Located in a thriving commercial district with high growth potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    FLAG Foundation Non-Profit Organization WorldStrides Travel Agency international collegiate theatre ... Event Venue The RESIDENCES AT 218 Condominium Complex Pro Dumpster Rental ... Dumpster Rental Service

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville
    State
    Virginia
    Longitude
    -78.483472429511
    Latitude
    38.0305470105

    Nearby Similar for Sale

    • $675,000
      Pending

      Charlottesville Brick Ranch Duplex

      Income-producing duplex in Rugby area, convertible to single-family home.
      1514 Westwood Rd, Charlottesville, VA 22903
      View Details
    • $675,000
      Pending

      Charlottesville Brick Ranch Duplex

      Income-producing duplex in Rugby area, convert to single-family possible.
      1514 Westwood Rd, Charlottesville, VA 22903
      View Details
    • $675,000
      Pending

      Charlottesville Duplex with Income Potential

      Brick duplex in Rugby area with income-producing basement apartments.
      1514 Westwood Rd #A, Charlottesville, VA 22903
      View Details
    • $639,500
      Pending

      University Village Condo with Views

      Sought-after 2 bed, 2 bath condo in active 55+ community.
      500 Crestwood Dr, Charlottesville, VA 22903
      View Details
    • New
      $515,000
      1,800 SF

      Charlottesville Duplex with Strong Income

      Income-producing duplex near UVA with long-term tenants.
      301 Paton St, Charlottesville, VA 22903
      View Details
    • $845,000
      Pending

      Charlottesville Brick Duplex Near UVA

      Brick duplex with updated kitchens and baths, close to UVA.
      2405 Jefferson Park Ave, Charlottesville, VA 22903
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Historic downtown Charlottesville mixed-use building.
    Where is this multifamily property located?
    The property is located at 218 Water St Charlottesville, VA.
    What is the asking price?
    The asking price for this property is $3,265,000.
    What are key features of this property?
    This property features: High-traffic location with excellent visibility on a major thoroughfare.; Recently renovated interior with modern finishes and updated systems.; Ample on-site parking available for tenants and customers.
    Request Owner's contact information
    218 Water St Charlottesville, VA 22902
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    218 Water St
    Charlottesville, VA 22902
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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 Water St Charlottesville, VA 22902
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.