For Sale
$3,495,000

302 Main StCharlottesville, VA 22903

Prime 0.5-acre mixed-use site

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 0.5-acre parcel at 302 W Main St, Charlottesville, VA 22903 presents a rare redevelopment opportunity in the heart of downtown. The property boasts a 17,420 square foot existing building and benefits from the new CX-5 zoning, allowing for significant development potential. With no density restrictions, a 5-story building is permitted by right, and up to 7 stories are achievable with the inclusion of affordable housing units. The asking price is $3,495,000, translating to $200.63 per square foot. This prime location offers direct access to both Ridge and Main Streets, placing it within walking distance of the Charlottesville Downtown Mall and the University of Virginia, ensuring high visibility and convenient access to numerous amenities. The city's ongoing comprehensive rezoning initiative promises further density and height increases, enhancing the long-term value of this investment. This is a unique chance to acquire a strategically located property with substantial upside potential in a thriving urban environment. The property's existing building provides immediate income potential while offering flexibility for future development plans. Don't miss this chance to shape the future of downtown Charlottesville.

Highlights

  • $3,495,000 asking price for 0.5-acre mixed-use land parcel.
  • Located in downtown Charlottesville, VA, at 302 W Main St, with 17,420 square feet of existing building.
  • Rare redevelopment opportunity with flexible CX-5 zoning, allowing up to 7 stories with potential bonus height for affordable units.
  • No density restrictions.
  • Prime location with direct access to Main and Ridge Streets, walkable to the Downtown Mall and University of Virginia.

Property Details for 302 Main St

Property type
Mixed-use properties, Land
Square Feet
17,420 SF
Lot Size (sq. ft)
21,780 SF

Location Insight

City
Charlottesville
County
Albemarle
State
Virginia
Latitude
38.030443396102
Longitude
-78.485867209312
302 Main St, Charlottesville, Virginia

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302 Main St
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