Development opportunity in town

Special Purpose for Sale
Sale Pending/Contingent
Catylist Listing ID: 30436939
Status: Pending/Contingent
Building Size (RSF): 6,000 SF
Gross Building Area: See Agent
Sale Price: $1,750,000
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2020

Overview / Comments

Property consists of 4 existing homes existing homes with great development potential at the corner of market St and 11 th street NE. Owner had plans to develop a multi-use building with below grade parking on Market Street. Zoned B-1

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Additional Details

Nearest MSA: Charlottesville
County: Charlottesville City
Taxing Authority: Charlottesville
Tax ID/APN: 7896.000000000000000
Zoning: B-1
Property Located Between: East Market Street and E. Jefferson
Property Visibility: Good
Largest Nearby Street: East Market Street
Total Number of Buildings: 4
Zoning Description: B-1
Part of Planned Development?: Yes
Lot Depth: See attached GIS
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Narinder and Kawal Arora
Legal Description: Parcels 540166000, 540164000, 540163000 and 54016700 (1101, 1105, 1107 E. Market St and 206 11th St NE)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,707 75,693 88,263
Median Age: 35.21 32.05 33.52
Households: 5,545 29,927 35,026


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