300 Ridge StCharlottesville, VA 22902

Property Details for 300 Ridge St

Year built

1995

Lot size

0.23 AC

Property size (Sq ft)

1,790 SF

Zone code

NX-8

Property type

Retail properties

Property subtype

Retail space

APN

280151000

APU

280151000

Description

This attractive, all-brick, two-story retail building (2,880 sq ft) is ideally situated at the corner of Monticello Ave and Ridge St in vibrant downtown Charlottesville, VA. Built in 1995, this property boasts large windows offering abundant natural light, two offices with private entrances and an interconnecting door, and two bathrooms (one per floor). Two small storage rooms, one on each floor, provide additional utility. A functional dumbwaiter connects the main floor and basement. The main floor features two entrances—one from the front parking lot and one from the street. The basement also has two entrances from the rear parking lot. Ample parking is available with 13 spaces (9 in front, 4 in the rear, with potential for expansion). Conveniently located near the downtown mall, UVA, and I-64, this property benefits from a nearby bus stop (lines #1 & 6). The 0.23-acre lot is zoned NX-8, presenting diverse possibilities for a variety of businesses. The asking price is $1,700,000 ($590.28/sq ft). This versatile space is ready for your vision.

• CAP approach

  CAP return

  Valuation

  6%

  $626,276

  6.5%

  $578,101

  7%

  $536,808

• Comparable approach

  Method

  Valuation

  Relative Method

  $901,889

  Geo Method

  $901,889

• Alternative Use

  Use

  Valuation

  Residential

  $487,650

  Hospitality

  $446,685

  Educational

  $371,637

  Medical

  $384,418

  Retail

  $578,101

Location Insight

City

Charlottesville

County

Charlottesville City

State

Virginia

Latitude

38.0284

Longitude

-78.4857

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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