For Sale
$1,220,044

545 Rio RdCharlottesville, VA 22901

1.22-Acre Pad-Ready Commercial Lot

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 1.22-acre commercial lot presents a unique development opportunity in the desirable Oakleigh development, situated at 545 Rio Rd W in Charlottesville, Virginia (zip code 22901). Located at the entrance to Oakleigh, this pad-ready site boasts an existing stormwater management system, significantly streamlining the development process. The property is zoned for Neighborhood Model use, allowing for a diverse range of development possibilities. A pre-existing site plan envisions a mixed-use building encompassing approximately 14,400 square feet of office space and eight apartments on the third floor. This prime location in Albemarle County offers excellent visibility and accessibility, making it an ideal investment for developers seeking a strategic entry point into the thriving Charlottesville market. The asking price for this exceptional opportunity is $1,220,044. This property is situated in an Opportunity Zone, potentially offering significant tax advantages for qualified investors. The site's readiness and strategic location combine to create a compelling investment proposition with substantial potential for future growth and return. Detailed site plans and further information are available upon request.

Highlights

  • 1.22-acre commercial lot in Charlottesville, VA (22901), located at 545 Rio Rd W, at the entrance to the Oakleigh development.
  • Pad-ready site with existing stormwater management system.
  • Neighborhood Model zoning allows for mixed-use development.
  • Pre-existing site plan includes ~14,400 SF of office space and 8 apartments.
  • Asking price: $1,220,044.
  • Located in an Opportunity Zone.

Property Details for 545 Rio Rd

Property type
Land
Lot Size (sq. ft)
53,143 SF

Location Insight

City
Charlottesville
County
Albemarle
State
Virginia
Latitude
38.0864665
Longitude
-78.4803035
545 Rio Rd, Charlottesville, Virginia

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545 Rio Rd
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