Investment/Owner user

Office for Sale
Catylist Listing ID: 30719911
Property Subtypes: Executive Suites, Mixed Use, Office Building, Other
Building Size (RSF): 6,189 SF
Gross Building Area: See Agent
Sale Price: $1,175,000
Unit Price: $189.85 PSF
Ceiling: 9 ft.
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Business
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/30/2021

Overview / Comments

This is an office building with garage/warehouse storage space in the lower level. 3,949 square feet of above grade office space and 2,240 square feet in the lower level which is comprised of some office and garage/warehouse space. Currently the property is 100% leased to four(4) separate tenants: Suite A leased to Qualified Staffing($1,700 per month); Suite B leased to Cornerstone($1,750 per month); Suite C($2,083 per month) & Garage D($350 per month) leased to Kamke CPA; Garage E leased to AHIP($250 per month).

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $7,724 (Annual)
Tax Value Land $424,100
Tax Value Improvements $480,236
Assessed Value - Total($) $904,336 (Annual)
Gross Operating Income $73,600 (Annual)
Actual or Proforma Year Actual
Lender Name N/A

Current Tenants

Tenant Business Name Qualified Staffing, Cornertstone, Kamke CPA, AHIP
Industry Type Professional/Scientific/Technical Services
Is Renting? Yes
Annual Revenue $73,600 (Annual)
SF of Space Occupied 6,189 SF
Current Rent $12 PSF (Annual)

Additional Details

Nearest MSA: Charlottesville
County: Albemarle
Tax ID/APN: 489072916651
Property Located Between: West Rio Road and U.S. 29/Seminole Trail. Closest to U.S. 29/Seminole Trail intersection.
Property Visibility: Good
Highway Access: Berkmar Dr. intersects with U.S.29/Seminole Trail(.25 mile) as well as West Rio Road(.50 mile)
Airports: Charlottesville/Albemarle Airport(CHO): 6 miles.
Site Description: The site is approximately 0.44 acres and is mostly paved. It slopes from front to back(north to south). Very visible from Berkmar Dr.
Area Description: This site is located in a commercial district where the majority of the surrounding buildings are commercial in nature(office, retail, warehouse & flex buildings). Various structures are leased and some are owner occupied.
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 2,000 SF
Year Built: 1996
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: The site is mostly paved with on site parking. There is limited landscaping next to the building.
Parking Ratio: 300 (per 1000 SF)
Parking Type: Surface
Parking Description: There are 20 on-site parking spaces. There is NO additional income from parking.
Total Parking Spaces: 20
Sprinklers: None
Heat Type: Electricity, Other
Heat Source: Heat Pump
Air Conditioning: Other
Internet Access: Cable, DSL
Interior Description: Approximately 5,000 square feet of this property is dedicated to office space and approximately 1,000 square feet is dedicated for garage/warehouse storage.
Zoning Description: The current zoning is C1(Commercial). This site is also located in the area of Albemarle County that has been designated Neighborhood 1-Places 29/Small Area Plan.
Lot Frontage: 100
Lot Depth: 250
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Utilities
Land Ownership: Owned/fee simple
Legal Description: Berkmar-Lot 11 County Tax Map:061U0-01-00-01100

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,541 46,630 91,066
Median Age: 36 35.22 34.38
Households: 4,211 19,215 36,071

Contact

Photograph of Listing Agent

Joe Aust

LONG & FOSTER - HISTORIC DOWNTOWN
CVCMLS Member
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