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: |
9/3/2023 |
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, new proposed zoning will allow unlimited density up to 8 stories with additional height available by conditional approval. 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. |
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 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Charlottesville Area Association of REALTORS nor
Moody's assume any liability for errors or omissions.
|
