490 Westfield Rd
Office
for Sale
| Catylist Listing ID: |
30835842 |
| Property Subtypes: |
Office Building
|
| Building Size (RSF): |
11,784 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$3,000,000 |
| Unit Price: |
$254.58 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Business |
| Class of Space: |
Class C |
| Sale Terms: |
Cash to Seller, Other |
| Cap Rate: |
7.23% |
| Last Updated: |
3/10/2023 |
Overview / Comments
|
Incredible opportunity to own a recently renovated building directly on Rt 29 North just minutes from Downtown Charlottesville. Gross rents are slightly above 240k per year with a NOI of 216k. Rare chance to own a 7.23 cap property in a prime location with tons of growth potential. Property tours are by APPOINTMENT ONLY and require advanced notice. Recent financials and lease information will be provided after completion of NDA. Strategically located minutes to Downtown Charlottesville and the University of Virginia.
|
Current Tenants
| Tenant Business Name |
Sigora Solar |
| Industry Type |
Utilities |
| Is Renting? |
Yes |
| Tenant Business Name |
Hookaholic |
| Industry Type |
Other Services |
| Is Renting? |
Yes |
Additional Details
| Nearest MSA: |
Charlottesville |
| County: |
Albemarle |
| Tax ID/APN: |
487657913889 |
| Property Visibility: |
Excellent |
| Highway Access: |
Route 29 north to Interstate 64 |
| Airports: |
Charlottesville Airport |
| Area Description: |
Located right off of route 29 with excellent visibility of the 4 lane highway, this office space is a fantastic spot for maximum exposure to traffic flowing to and from Charlottesville |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Typical SF / Floor: |
11,789 SF |
| Year Built: |
1960 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Exterior Description: |
Freshly painted white brick exterior faces the busy route 29 traffic flow |
| Parking Description: |
open lot with no parking restrictions |
| Heat Type: |
Electricity |
| Heat Source: |
Central |
| Internet Access: |
Cable |
| Zoning Description: |
C1 COMMERCIAL |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
WESTFIELD 2 NATURE CONSERVANCY |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
12,363 |
60,638 |
96,401 |
| Median Age: |
36.53 |
33.64 |
34.28 |
| Households: |
5,394 |
23,186 |
38,043 |
|
© Copyright 2001-2023 Moody's. All Rights Reserved.
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.
|
