302 Main St Charlottesville, VA 22903
- Mixed-use properties
- 17,420 SF
- 0.50 lot acres
Current Use by Public Records
- Mixed-use properties
Property Details for 302 Main St
- Lot size
- 0.50 lot acres
- Property size
- 17,420 SF
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
This exceptional 0.5-acre parcel at 302 W Main St, Charlottesville, VA 22903 presents a rare redevelopment opportunity in the heart of downtown. The property boasts a 17,420 square foot existing building and benefits from the new CX-5 zoning, allowing for significant development potential. With no density restrictions, a 5-story building is permitted by right, and up to 7 stories are achievable with the inclusion of affordable housing units. The asking price is $3,495,000, translating to $200.63 per square foot. This prime location offers direct access to both Ridge and Main Streets, placing it within walking distance of the Charlottesville Downtown Mall and the University of Virginia, ensuring high visibility and convenient access to numerous amenities. The city's ongoing comprehensive rezoning initiative promises further density and height increases, enhancing the long-term value of this investment. This is a unique chance to acquire a strategically located property with substantial upside potential in a thriving urban environment. The property's existing building provides immediate income potential while offering flexibility for future development plans. Don't miss this chance to shape the future of downtown Charlottesville.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Charlottesville
- County
- Albemarle
- State
- Virginia
- Longitude
- -78.4859
- Latitude
- 38.0304
