218 W Market St
Charlottesville, VA 22902

Infill redevelopment / investment opportunity in the heart of Downtown Charlottesville. Large 0.56 acre site is under-utilized and can accommodate significant additional density. Currently improved with a one-story 12,000 +/- gross square feet retail building and 29 parking spaces. 100% occupied, with stable in-place income from four retail tenants and one master parking lease. With frontage on both West Market Street and Old Preston Avenue, the property benefits from two points of ingress and egress. Current land to building ratio of 2:1 is exceptionally high for downtown. Charlottesville and highlights the untapped future redevelopment potential. Property is located steps from the site which is poised for a near term redevelopment into a preeminent 160,000 SF Class A mixed-use project known as the Center of Developing Entrepreneurs, which will be a hub for growing tech firms and is scheduled to be complete by 2020. Excerpt from City of Charlottesville Zoning Ordinance: “The area within this zoning district is the entertainment and employment center of the community and the regulations set forth within this district are designed to provide appropriate and convenient housing for persons who wish to reside in proximity to those activities.” Strategically positioned on the highly established and desirable west end of the Downtown Pedestrian Mall. Zoned Downtown Historic (DH) which encourages mixed-used development. The property is located within the Parking Modified Zone and the Architectural Design Control District.