Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30414643
Property Subtypes: Hospitality, Multi-Family
Gross Land Area: 1.22 Acres
Sale Price: $4,000,000
Unit Price: $3,278,688 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/17/2019

Overview / Comments

- 1.22 acres zoned CH-Cherry Avenue Corridor
- Hotel use; 100 rooms by right
- 21 residential units per acre by right
- 43 residential units per acre special-use permit
- Excellent ingress/egress
- One block off W Main Street
- Excellent topography
- Adjacent to the University of Virginia
- 2.2 miles to Interstate 64
- High growth area
- located in opportunity zone

Attachments & Media

Additional Details

Nearest MSA: Charlottesville
County: Charlottesville City
Tax ID/APN: 6959.000000000000000
Property Located Between: Downtown Charlottesville and UVA
Property Visibility: Good
Legal Description: 1.22 acres located near the intersection of 7th St. SW and W Main St. Parcel number 290071000.
Largest Nearby Street: W Main Street
Rail Access: Yes
Topography: Level
Easements: Ingress/Egress
Available Utilities: Electric, Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,807 71,962 89,562
Median Age: 29.29 31.53 33.69
Households: 9,957 28,273 35,482


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