404 People PlCharlottesville, VA 22911

Property Details for 404 People Pl

Year built

2008

Lot size

3.94 AC

Property size (Sq ft)

26,280 SF

Zone code

NMD

Property type

Office buildings

APN

07800-00-00-01600

APU

7800000001600

Description

This 3,655-square-foot office space, located at 404 People Place, Suite 301, Charlottesville, VA 22911, offers a versatile layout ideal for various uses. Previously occupied by a dental practice, this single-tenant space features multiple entrances/exits for convenient access. Situated on Pantops Mountain, the property enjoys excellent visibility and accessibility from Richmond Road and South Pantops. The third-floor suite is conveniently served by both elevator and stairwell access within a five-story building totaling 26,706 square feet on a 3.94-acre lot. The space includes 90 total parking spaces for ample tenant and visitor parking. Amenities include common area bathrooms and a private in-suite bathroom. All utilities and janitorial services are included in the rent, excluding internet. The building was constructed in 2008 and is zoned NMD (Neighborhood Model District). The property's APN is 07800-00-00-01600. The rentable square footage is 3,655 square feet, with 3,178 square feet of usable space. The all-inclusive rent is $29.50 per square foot. This property presents a unique opportunity for businesses seeking a well-appointed and conveniently located office space in a thriving Charlottesville community. Easy to show during normal business hours.

• CAP approach

  CAP return

  Valuation

  6%

  $6,254,910

  6.5%

  $5,773,762

  7%

  $5,361,351

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,254,423

  Geo Method

  $5,254,423

• Alternative Use

  Use

  Valuation

  Residential

  $7,159,466

  Hospitality

  $6,558,032

  Educational

  $5,456,206

  Medical

  $5,643,853

  Retail

  $8,487,431

Location Insight

City

Charlottesville

County

Albemarle

State

Virginia

Latitude

38.0328

Longitude

-78.4537

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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