Mixed Use warehouse/residential

Special Purpose for Sale
Sale Pending
Catylist Listing ID: 30818804
Status: Pending
Building Size (RSF): 6,416 SF
Gross Land Area: 0.13 Acres
Sale Price: $795,000
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 6,416 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/15/2022

Overview / Comments

The property is being sold "AS IS WHERE IS" with no warranty. This property contains two(2) detached building structures with the following addresses; 301 7th St. S.W. & 702 Delevan St. In the City tax records they will only come up under 301 7th St. S.W. The main level of each building consists of warehouse/storage area that currently houses contractor equipment and personal items. The main level of each building also has an overhead/roll-up door which allows for vehicles and other equipment to be stored. The second level of each building contains two(2) residential rental apartments. The two rental units on the second floor of 301 7th St. S.W. are no longer occupied and are in need of significant renovation. Additionally, the stairs from the ground level to the rental units of this structure are closed and not accessible because they are in need of replacement. The two rental units located in 702 Delevan St. have both been renovated. Unit A rents for $1,275 per month and Unit B rents for $1,325 per month. Both leases run until 5/31/23. This is a very small site so please see attached survey in documents. Each building is separated by a 12' alley easement that allows property owners with frontage on 7th St. S.W. to access the rear of their properties.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $5,151 (Annual)
Tax Value Land $271,700
Tax Value Improvements $251,400
Tax Value Personal Property $0
Assessed Value - Total($) $523,100 (Annual)

Additional Details

Nearest MSA: Charlottesville
County: Charlottesville City
Tax ID/APN: 300024000
Zoning: R-3
Property Located Between: West Main St. & Dice St.
Property Visibility: Fair
Largest Nearby Street: West Main Street
Feet of Frontage: 34
Highway Access: From West Main St. turn onto 7th St. S.W. and head south. Go one(1) block(traveling over rail road tracks) and the property will be on your right.
Airports: Charlottesville/Albemarle Airport(CHO): 10+/- miles.
Site Description: This is a very small site which is occupied almost exclusively by the two(2) existing structures.
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Fair
Year Built: 1961
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Other
Parking Description: Very limited parking. There is on-street parking on 7th St. S.W. and Delevan and one(1) off street parking space at 702 Delevan St.
Sprinklers: None
Heat Type: Natural Gas, Other
Heat Source: Central, Heat Pump
Air Conditioning: Other
Internet Access: Cable, DSL
Interior Description: The main level of each building is warehouse/storage type space. The second level of each building are residential rental apartments.
Zoning Description: R-3
Lot Frontage: 34 feet
Lot Depth: 92 feet
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Ingress/Egress, Utilities, Other
Legal Description: Charlottesville City Tax Map 34, Parcel 24, Lots 1 & 10.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,915 71,962 89,562
Median Age: 28.84 31.53 33.69
Households: 9,576 28,273 35,482

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