Plaza 285 285 Hydraulic Ridge Rd
10,032 SF 100% Leased Office Building Charlottesville, VA 22901 $3,020,640 CAD ($301.10 CAD/SF) 7.90% Cap Rate
INVESTMENT HIGHLIGHTS
- Stabilized Investment opportunity strategically located at a prominent corner intersection across from Albemarle High School.
- Renovations were performed by reputable local firms with architecture by Design Develop and construction by Lee Construction Group
- Opportunity to capitalize on solid appreciation in the Charlottesville commercial market
- 100% leased to strong mix of local and national credit tenants
- Currently improved with a one-story commercial hybrid office / medical / flex building consisting of 9,641 RSF
- Strong rent growth with annual contract rental escalations for all Tenants
EXECUTIVE SUMMARY
Colliers, as exclusive agent, is pleased to present the opportunity to purchase Plaza 285 (“the Property”), a fully leased three tenant commercial building including medical, office and lab/flex space located in the highly desirable market of Charlottesville, VA. The renovated and attractive Class A asset is prominently positioned at the corner of Hydraulic and Whitewood Roads, across from Albemarle High School, seen by nearly 40,000 vehicles per day. Additionally, the property features convenient on-site parking with approximately 42 spaces, enhancing accessibility.
The diverse tenant mix within a high-quality asset, strategic location in a sought after market, and stable cash flow with potential for long-term growth, make Plaza 285 an excellent investment opportunity.
The diverse tenant mix within a high-quality asset, strategic location in a sought after market, and stable cash flow with potential for long-term growth, make Plaza 285 an excellent investment opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
10,032 SF
Building Class
B
Year Built/Renovated
1988/2018
Price
$3,020,640 CAD
Price Per SF
$301.10 CAD
Cap Rate
7.90%
NOI
$238,631 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
10,032 SF
Building FAR
0.21
Lot Size
1.12 AC
Opportunity Zone
Yes
Zoning
C-1
Parking
42 Spaces (4.19 Spaces per 1,000 SF Leased)
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Hardiman Williams
- -
- -
-
$9.99
-
Lorem Ipsum
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Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Hardiman Williams | - | - | $9.99 | Lorem Ipsum | Jan 0000 |
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PROPERTY TAXES
| Parcel Number | 06100-00-00-02500 | Improvements Assessment | $1,289,432 CAD |
| Land Assessment | $916,653 CAD | Total Assessment | $2,206,085 CAD |
