Ix Project

Retail-Commercial for Sale
Catylist Listing ID: 30784770
Property Subtypes: Mixed Use
Building Size (RSF): 177,000 SF
Gross Building Area: See Agent
Gross Land Area: 6.72 - 17.48 Acres
Sale Price: $4,806,757 Per Acre
Total Price: $19,531,588
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Undisclosed, Other
Cap Rate: Undisclosed
Last Updated: 5/21/2022

Overview / Comments

This 6.72-acres and the adjacent 10.7519-acre parcel comprise the Ix Project containing 17.47 acres. The site is a mixed-use light industrial, commercial, retail property with approximately 177,438 leasable sf. The entire site is zoned to accommodate substantial redevelopment, including up to 751 residential units by-right. This is a unique opportunity for a Tech Campus, mixed-use development with a consistent and substantial income stream. A farmer's market has been on part of the 6.72-acre parcel for the past couple growing seasons demonstrating a good sense of place. 17 acres in the center of Charlottesville, VA a mile from the University of Virginia and 3 blocks from the Charlottesville Downtown Mall. Great opportunity to build a City within a City. Property can be subdivided. Infill Opportunities desired!

Additional Details

Nearest MSA: Charlottesville
County: Charlottesville City
Taxing Authority: City of Charlottesville
Tax ID/APN: 280208100
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Monticello Avenue and Elliott Avenu
Property Visibility: Excellent
Largest Nearby Street: Monticello
Feet of Frontage: 516
Highway Access: Property fronts on two public streets.
Airports: CHO
Site Description: Fantastic Urban site in Charlottesville, VA. Zoning allows for superior Multi-family, mixed-use commercial/retail, and light industrial uses. Rare and unique opportunity for Tech Center close to a nationally prominent University with a budding new Data Sciences School. Charlottesville and surrounding Albemarle County provide exceptional schools, quality of life with reliable access to exceptional outdoors, recreation and plentiful urban amenities.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Excellent
Year Built: 1920
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Other
Exterior Description: Brick, metal and glass.
Parking Type: Surface
Parking Description: Surface parking
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Interior Description: The building, converted to retail, brewery within existing warehouse provides multiple interior venues for many uses.
Zoning Description: "DE", Downtown Extended District allows for heights up to 101' and densities up to 240 DUA in a mixed-use context. The property has become a focal point in Charlottesville and is designated as part of Charlottesville's Strategic Investment Area.
Lot Frontage: 500+
Lot Depth: 577+
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Ingress/Egress, Utilities
Easements Description: Existing cross easements serve both the 6.72 and 10.75-acre parcels. Untility easements exist on the site. There are no access easements through the entire site to third parties.
Land Ownership: fee
Legal Description: 6.7235 acre parcel: 522 2nd Street, SE, Charlottesville, VA Tax Parcel ID: 280208100; DB 1117, page 117.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,187 72,534 88,263
Median Age: 31.1 31.61 33.52
Households: 8,855 28,488 35,026

Contact

Photograph of Listing Agent

Clifford Fox

Foxfyre Enterprises, Inc.
CVCMLS Member
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