545 Rio RdCharlottesville, VA 22901

Property Details for 545 Rio Rd

Lot size

1.22 AC

Property type

Land

Description

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.

Location Insight

City

Charlottesville

County

Albemarle

State

Virginia

Latitude

38.0865

Longitude

-78.4803

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