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    401 Market St Charlottesville, VA 22902

    Sponsored
    For Lease
    $28 SF/Yr

    Class A office, prime location, suites available.

    Lot size:
    50,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A office building, located at 401 E Market Street in Charlottesville, VA, offers 50,000 square feet of premium workspace. Situated in the heart of downtown, it enjoys unparalleled accessibility, just one block from the courthouses and the historic pedestrian mall, and across from a parking structure. Additional parking is conveniently located two blocks away. The building, originally constructed in 1953 and extensively renovated in 1999, features a striking skylighted atrium connecting two buildings. This unique design creates a unified and identifiable structure enhanced by a two-story addition. The property boasts a total of six suites, with a minimum divisible space of 4,706 square feet and a maximum contiguous space of 19,912 square feet. Currently, 36,939 square feet is available. The building is served by Dominion Power and includes one hydraulic elevator. The 0.57-acre lot is zoned DH DOWNTOWN CORRIDOR MIXED USE HISTORIC. This property presents a rare opportunity for businesses seeking a prestigious and highly accessible location in the vibrant downtown Charlottesville area. The building's size and layout are particularly well-suited to larger tenants, with the potential to combine suites for up to 20,000 square feet of contiguous space. The building's prime location makes it ideal for law firms and financial services companies.

    Property Features for 401 Market St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    50,000 SF
    Class
    A
    Total Rate
    118750

    Building Details

    Year Built/Renovated
    1953/1999
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 102
    Size
    4,720 SF
    Rate per SF
    $28
    Space
    Suite 201
    Size
    6,768 SF
    Rate per SF
    $28
    Space
    Suite 200
    Size
    9,588 SF
    Rate per SF
    $28
    Space
    Suite 206
    Size
    5,553 SF
    Rate per SF
    $28
    Space
    Suite 100
    Size
    4,706 SF
    Rate per SF
    $28
    Space
    Suite 104
    Size
    5,604 SF
    Rate per SF
    $28

    HighLights

    • Class A, 50,000 square foot office building in downtown Charlottesville, VA.
    • Prime downtown location, one block from courthouses and pedestrian mall.
    • Excellent accessibility; near two parking structures.
    • Large contiguous office suites available (up to 19,912 square feet) on two floors, suitable for larger tenants.
    • Multiple suites available, ranging from 4,706 to 19,912 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Enterprise Center Business Center Kaelber, Billmyer & Kaelber, ... Tax Consultant Affiliated Spartan SR-22 ... Insurance Company FedEx Drop Box Mailing Service Thomas Long - Morgan ... Financial Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.478591
    Latitude
    38.0309287

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    FAQs

    What type of property is this?
    Office space - Class A office, prime location, suites available.
    Where is this office space located?
    The property is located at 401 Market St Charlottesville, VA.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Class A, 50,000 square foot office building in downtown Charlottesville, VA.; Prime downtown location, one block from courthouses and pedestrian mall.; Excellent accessibility; near two parking structures.
    Request Owner's contact information
    401 Market 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
    401 Market St Charlottesville, VA 22902
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