216 3Rd StCharlottesville, VA 22902

Property Details for 216 3Rd St

Year built

1900

Lot size

0.08 AC

Property size (Sq ft)

5,095 SF

Zone code

DX

Property type

Office properties

Property subtype

Other office properties

APN

330214000

APU

330214000

Description

This exceptional executive office suite, located at 216 3rd NE, offers three individual spaces totaling approximately 1,000 contiguous square feet, ideal for a variety of businesses. Situated on the second floor, the suite enjoys a quiet atmosphere with a view of 3rd Street NE. The space includes three separate rooms, a small coffee station, two toilets, and a tub. The property is strictly for commercial use; residential occupancy is prohibited. The building itself is a two-story, Class C structure, built in 1900, encompassing a total of 5,788 square feet on a 0.09-acre lot. The zoning is designated as DH. While parking is not included, options may be available. The monthly rental price encompasses property taxes, insurance, and all utilities. The minimum divisible space is 550 square feet, with a maximum contiguous space of 1,000 square feet. Currently, 2,150 square feet are vacant and immediately available. The property's Assessor's Parcel Number (APN) is 330214000. This is a unique opportunity to secure a well-maintained, conveniently located office space in a desirable downtown area. Inquire today to learn more about this exceptional offering.

• CAP approach

  CAP return

  Valuation

  6%

  $1,212,662

  6.5%

  $1,119,380

  7%

  $1,039,425

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,018,694

  Geo Method

  $1,018,694

• Alternative Use

  Use

  Valuation

  Residential

  $1,388,032

  Hospitality

  $1,271,430

  Educational

  $1,057,815

  Medical

  $1,094,194

  Retail

  $1,645,489

Location Insight

City

Charlottesville

County

Charlottesville City

State

Virginia

Latitude

38.0314

Longitude

-78.4792

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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