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    715 Main St Charlottesville, VA 22903

    Sponsored
    For Sale
    $5,900,000

    Charlottesville retail, redevelopment potential.

    Property size:
    7,685 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Charlottesville investment opportunity encompasses four buildings totaling 7,685 square feet situated on a 0.608-acre lot. Located at 715-731 West Main Street and 117 Cream Street, this property boasts a prime location near the University of Virginia, presenting significant redevelopment potential. The existing structures, built in 1920, are zoned WMEH, allowing for a five-story building with the possibility of expanding to seven stories. Detailed plans are available upon request. The current asking price is $5,900,000, translating to $767.73 per square foot. This presents a unique chance to capitalize on the high demand for student housing in the area, with potential for up to 168 beds. The property's four buildings are currently configured as retail space, offering a flexible canvas for a transformative project. The property's address includes 715 W Main St, 731 W Main St, and 117 Cream St, all in Charlottesville, VA 22903. Parcel numbers are 320151000

    Property Features for 715 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,685 SF
    Lot Size
    26,484 SF

    Building Details

    Year Built
    1920
    Buildings
    4
    Stories
    2

    HighLights

    • High‑traffic location with excellent visibility from a major thoroughfare.
    • Ample on‑site parking available for tenants and customers.
    • Recently renovated interior with modern finishes and updated systems.
    • Flexible floor plan adaptable to various business needs.
    • Competitive lease rates and flexible lease terms available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.4904479
    Latitude
    38.0318597

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    FAQs

    What type of property is this?
    Individual retail property - Charlottesville retail, redevelopment potential.
    Where is this individual retail property located?
    The property is located at 715 Main St Charlottesville, VA.
    What is the asking price?
    The asking price for this property is $5,900,000.
    What are key features of this property?
    This property features: High-traffic location with excellent visibility from a major thoroughfare.; Ample on-site parking available for tenants and customers.; Recently renovated interior with modern finishes and updated systems.
    Request Owner's contact information
    715 Main St Charlottesville, VA 22903
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    Charlottesville, VA 22903
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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
    715 Main St Charlottesville, VA 22903
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