Development Potential on Monticello Ave

Vacant Land for Sale
Catylist Listing ID: 30853555
Property Subtypes: Hospitality, Industrial, Multi-Family, Office, Residential (Single Family), Retail, Self Storage, Other
Gross Land Area: 8.95 Acres
Sale Price: $8,950,000
Unit Price: $1,000,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/23/2023

Overview / Comments

Excellent re-development opportunity along one of Charlottesville's busiest travel corridors adjacent to Interstate 64. Four parcels consisting of 8.95 acres of flat land, largely unimproved. Current zoning along the highway corridor allows for a variety of residential and commercial uses, including retail, office, food service, automotive, hotel/lodging, and much more. Located on Monticello Avenue at exit 121 on I-64. One mile from Downtown Charlottesville and just minutes to the University of Virginia.

Additional Details

Nearest MSA: Charlottesville
County: Charlottesville City
Tax ID/APN: 610108000
Zoning: HW
Property Visibility: Excellent
Legal Description: Tax parcel ID #s: 610-107-000, 610-109-000, 610-110-000, 610-108-000.
Largest Nearby Street: Monticello Ave & I-64

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,461 60,174 86,235
Median Age: 34.06 30.23 33.3
Households: 3,769 23,008 34,216
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