401 Main St, Unit 7 Charlottesville, VA 22902-5235

Property Details for 401 Main St

Year built

1963

Lot size

0.11 lot acres

Property size

17,113 SF

Zone code

DX

Property type

Retail space

APN

530059000

APU

530059000

Description

This exceptional investment opportunity presents a 86,152 square foot telecom/data center located at 401-419 W Main St, Charlottesville, VA 22903. The property, situated on 1.1 acres, boasts a 100% occupancy rate with a single tenant, Brightspeed, a subsidiary of Apollo Global Management, under a 20-year absolute net sale-leaseback agreement. The annual rent is $861,520, translating to a $10 per square foot rate and a compelling 5.75% capitalization rate. The asking price is $14,982,956, resulting in a price per square foot of $173.91. The building, designated as a historic landmark on the National Register of Historic Places, serves as a critical central office for Brightspeed's fiber network, having operated continuously for over 70 years. The property features 52 parking spaces and is zoned CX-5. Its prime location on West Main Street connects Charlottesville's Downtown Mall and the University of Virginia, benefiting from a highly educated workforce and a thriving local economy. The sale includes rent bumps. This is a rare opportunity to acquire a mission-critical asset in a desirable location with a strong, long-term tenant. The Charlottesville MSA boasts a population exceeding 225,000 residents and a robust economy fueled by the University of Virginia and a growing defense industry.

Location Insight

City

Charlottesville

County

Charlottesville City

State

Virginia

Longitude

-78.479

Latitude

38.0302

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments