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2306 Price Ave - Price Avenue Assemblage 0.46 Acres of Commercial Land Offered at $1,256,328 CAD in Charlottesville, VA 22903
INVESTMENT HIGHLIGHTS
- Proximate to the UVA grounds
- Rectangular site with minimal topo, site is well sized and proportioned for infill student housing development
- Centrally located in the JPA corridor
EXECUTIVE SUMMARY
feet high) with density bonus, with no restrictions on dwelling units per acre
• Property fronts Price Avenue with convenient alley access in rear
• 0.46 acres (equates to 20,037 sf of land)
• In-place income from existing tenant covers operating expenses during predevelopment
period
• Long-term tenant on month-to-month terms provides stable in-place income, with
flexibility to Owner for redevelopment timing
• Rectangular site with minimal topo, site is well sized and proportioned for infill
student housing development
PROPERTY FACTS Under Contract
| Price | $1,256,328 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 0.46 AC |
| Price | $1,256,328 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 0.46 AC |
1 LOT AVAILABLE
Lot
| Price | $1,256,328 CAD | Lot Size | 0.46 AC |
| Price Per AC | $2,731,147.90 CAD |
| Price | $1,256,328 CAD |
| Price Per AC | $2,731,147.90 CAD |
| Lot Size | 0.46 AC |
Exceptional student housing opportunity proximate to the UVA grounds on 0.46 acres, centrally located in the JPA corridor, a dominant UVA student housing sub-market.
DESCRIPTION
- Site Size: 0.46 Acres (0.23 Acres per parcel) - Zoning: RX-3 - Existing Building, Building Size: 1,055 SF with 700 SF Basement - Year Built: 1955 - Lease: Long-term tenant on month-to-month lease ($1,320 per mo) - Proposed Units (Based on RX-3 Zoning and Design Develop Zoning Study)* - By-right 28 units (48 bedrooms) - With Density Bonus 56 units (96 bedrooms) * Future outcome of current zoning litigation against the City of Charlottesville
PROPERTY TAXES
| Parcel Number | 170-034-000 | Improvements Assessment | $0 CAD |
| Land Assessment | $259,477 CAD | Total Assessment | $259,477 CAD |
PROPERTY TAXES
Presented by
2306 Price Ave - Price Avenue Assemblage
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