200 Water StCharlottesville, VA 22902

Property Details for 200 Water St

Year built

1993

Lot size

1.99 AC

Property size (Sq ft)

336,750 SF

Zone code

DX

Property type

Parking lots & garages

APN

280061000

APU

280061000

Description

This exceptional investment opportunity presents a 4,399 square foot vacant executive office condo located at 200 E Water Street in Charlottesville, Virginia. The property, built in 1993, is situated on the ground floor of the Water Street Parking Garage, offering unparalleled convenience and visibility. This prime location places it just one block from the vibrant Downtown Mall, providing easy access to a diverse range of amenities including restaurants, coffee shops, breweries, and entertainment venues. The space is comprised of four units: Units C11-C14 totaling 3,493 square feet and Unit C15 encompassing 906 square feet. The asking price is $949,500, translating to $215.84 per square foot. This presents a unique chance to acquire a substantial and well-positioned commercial property in a thriving downtown area. The property is currently vacant, allowing for immediate occupancy and customization to suit a variety of business needs. This is an excellent opportunity for investors seeking a strong return in a desirable location. The property's proximity to the Downtown Mall ensures high foot traffic and visibility, making it an ideal location for a variety of businesses. Don't miss this chance to own a piece of Charlottesville's vibrant downtown core.

• CAP approach

  CAP return

  Valuation

  6%

  $117,820,432

  6.5%

  $108,757,320

  7%

  $100,988,936

• Comparable approach

  Method

  Valuation

  Relative Method

  $169,671,088

  Geo Method

  $169,671,088

• Alternative Use

  Use

  Valuation

  Residential

  $91,740,864

  Hospitality

  $84,034,144

  Educational

  $69,915,416

  Medical

  $72,319,920

  Retail

  $108,757,320

Location Insight

City

Charlottesville

County

Charlottesville City

State

Virginia

Latitude

38.0292

Longitude

-78.4806

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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