Catylist Listing ID: 30359053
Property Subtypes: Business Park, Net Leased, Office Building
Condo? Yes
Building Size (RSF): 3,940 SF
Gross Building Area: See Agent
Sale Price: $699,500
Property Use Type: Investment
Building Name: Glenwood Station
Class of Space: Class A
Usable Size (USF): 3,178 SF
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Average Occupancy Rate: 100
Last Updated: 1/16/2019

Overview / Comments

This is an opportunity to purchase a ground floor, class A office condominium with a true 8.5% CAP. New lease for existing credit tenant runs to December 2022. 2% annual increases and two year option with 3% increases. Tenant pays for utilities and CAM fees.

Additional Details

Nearest MSA: Charlottesville
County: Albemarle
Taxing Authority: Albemarle county
Tax ID/APN: 061Y0-00-0B-10200, 061Y0-00-0B-10300
Is Condo?: Yes
Zoning: NMD
Property Visibility: Excellent
Airports: Charlottesville-Albemarle
Site Description: Well maintained, established office park. Direct access to downtown Charlottesville and less than one mile to route 29. North-south corridor through Charlottesville.
Construction/Siding: Brick
Parking Type: Surface
Zoning Description: NMD. Neighborhood Model Development
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,423 53,563 93,536
Median Age: 41.5 34.41 34.4
Households: 3,460 20,926 36,832
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