946 Grady AveCharlottesville, VA 22903

Property Details for 946 Grady Ave

Year built

1937

Lot size

1.65 AC

Property size (Sq ft)

77,528 SF

Zone code

CX-3

Property type

Office properties

Property subtype

Other office properties

APN

310060000

APU

310060000

Description

Dairy Central offers exceptional executive office space in a vibrant Charlottesville, VA location. This Class A property, originally built in 1937 and recently renovated, boasts 95,000 square feet of total space, with 4,162 square feet currently available. Units range from a minimum of 355 square feet to a maximum contiguous space of 3,200 square feet, perfect for businesses of various sizes. The building features 10' to 13' ceilings and ample parking with 28 structured spaces and 179 surface spaces. Conveniently located in Albemarle County, at 946 Grady Ave, Charlottesville, VA 22903, this property is situated within walking distance of downtown Charlottesville and the University of Virginia. Elevators are available for easy access to all floors. The property sits on a 5-acre lot and is part of a mixed-use development including retail and restaurant spaces, creating a dynamic and convenient work environment. This is a multi-tenant building offering a unique opportunity to establish a presence in a thriving urban district. The building's adaptive reuse of a historic facility adds to its character and appeal. Future phases of development include residential units and additional parking. This is an excellent opportunity to secure prime office space in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $18,452,458

  6.5%

  $17,033,038

  7%

  $15,816,393

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,500,948

  Geo Method

  $15,500,948

• Alternative Use

  Use

  Valuation

  Residential

  $21,120,968

  Hospitality

  $19,346,694

  Educational

  $16,096,222

  Medical

  $16,649,795

  Retail

  $25,038,566

Location Insight

City

Charlottesville

County

Charlottesville City

State

Virginia

Latitude

38.038

Longitude

-78.4912

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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