Commercial Condominium
Special Purpose
for Sale
| Catylist Listing ID: |
30842990 |
| Property Subtypes: |
Health Care/Medical
|
| Building Size (RSF): |
15,340 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$3,450,000 |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Usable Size (USF): |
15,340 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
7.17% |
| Last Updated: |
5/16/2023 |
Overview / Comments
|
This is a main level business condominium in the Branchlands Professional Center located on the corner of Incarnation Dr. and Hillsdale Dr. The total size of this condominium is approximately 15,340 sq. ft. Atlantic Sports & Rehabilitation occupy approximately 12,240 sq. ft. under a five(5) year, triple net lease, with the initial base rent at $17,050 per month. The base rent will increase January of each year by one and one half(1.50%) percent. The tenant has one(1), five(5) year option to renew the lease with a minimum of 180 written notice. The balance of this condominium, approximately 3,100 sq. ft., is occupied by the owners, which has been turned into residential space. The County will allow the owners of the condominium to occupy this section of the unit as a residence, or, any person who works for the business that occupies the main space of the condominium. Additionally, this smaller section of the condominium may be rented as an office/business space. Please call agent for additional details and questions.
|
Additional Details
| Nearest MSA: |
Charlottesville |
| County: |
Albemarle |
| Zoning: |
PUD |
| Property Located Between: |
Incarnation Dr. & the Woodlands Day Care Center |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Hillsdale Drive |
| Feet of Frontage: |
300 |
| Highway Access: |
Approximately one tenth(0.1) of a mile from US Route 29 (Seminole Trail). |
| Airports: |
Charlottesville/Albemarle Airport(CHO): 5+/- miles. |
| Site Description: |
This is a commercial site containing a two(2) story business condominium building and paved parking on three(3) sides. |
| Area Description: |
This particular area of Hillsdale Dr. is a mixture of commercial space(office, retail, restaurant, health care facilities) as well as residential apartments and housing ownership. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Property Condition: |
Excellent |
| Year Built: |
2000 |
| Roof Type: |
Gable |
| Construction/Siding: |
Brick |
| Exterior Description: |
This is a brick building with paved parking. |
| Parking Type: |
Surface |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Heat Pump |
| Air Conditioning: |
Other |
| Internet Access: |
Cable, DSL |
| Interior Description: |
The majority of the condominium is set up as a physical rehabilitation facility. The smaller section of the condominium is currently used as a residential apartment for the owners. |
| Zoning Description: |
Planned Unit Development (PUD) |
| Part of Planned Development?: |
Yes |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Ingress/Egress, Utilities |
| Land Ownership: |
This is a condominium ownership entity. |
| Legal Description: |
Branchlands Professional Center Condos, Unit #101. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
12,566 |
59,232 |
96,401 |
| Median Age: |
37.06 |
33.25 |
34.28 |
| Households: |
5,403 |
22,625 |
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.
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