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Former Hardware Store 316 E Main St
26,937 SF 32% Leased Office Building Charlottesville, VA 22902 $6,500,000 ($241/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Fronts on downtown walking mall
- Much of the space is open with exposed ceiling & walls.
- Completely remodeled in 2008 to become a Class A building.
EXECUTIVE SUMMARY
DATA ROOM Click Here to Access
- Market Information
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$637,060
|
$23.65
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$637,060
|
$23.65
|
| Taxes |
$70,770
|
$2.63
|
| Operating Expenses |
$84,567
|
$3.14
|
| Total Expenses |
$155,337
|
$5.77
|
| Net Operating Income |
$481,723
|
$17.88
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $637,060 |
| Annual Per SF | $23.65 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $637,060 |
| Annual Per SF | $23.65 |
| Taxes | |
|---|---|
| Annual | $70,770 |
| Annual Per SF | $2.63 |
| Operating Expenses | |
|---|---|
| Annual | $84,567 |
| Annual Per SF | $3.14 |
| Total Expenses | |
|---|---|
| Annual | $155,337 |
| Annual Per SF | $5.77 |
| Net Operating Income | |
|---|---|
| Annual | $481,723 |
| Annual Per SF | $17.88 |
PROPERTY FACTS
AMENITIES
- Controlled Access
- Security System
- Wheelchair Accessible
- Kitchen
- Basement
- Central Heating
- DDA Compliant
- High Ceilings
- Partitioned Offices
- Secure Storage
- Air Conditioning
- Balcony
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Professional, Scientific, and Technical Services
- 12,145 SF
- $27.40
- Modified Gross
- Sep 2028
Silverchair provides educational publications to professionals and students in scientific, technical and medical disciplines. Based in Charlottesville, Va., the company provides a range of services, such as content engineering, editorial management, information architecture, taxonomy development, market research and strategic analysis. Additionally, it offers project management, search engine optimization, software development, usage analysis, functional design, metadata management and other services. Silverchair's client base includes American Academy of Pediatrics, Agency for Healthcare Research and Quality and Elsevier Health Science.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Professional, Scientific, and Technical Services | 12,145 SF | $27.40 | Modified Gross | Sep 2028 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Opens onto the mall. Two display windows. Wood floors. Mezzanine level has finished changing rooms. High ceilings. Walk-in safe. Elevator access for handicapped if also leasing level below. Can connect an additional 3,224 SF of office space with two baths,a kitchen, a mezzanine conference room and an elevator to access Water St. entrance.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 6,593 SF | Retail | Full Build-Out | Now |
1st Floor
| Size |
| 6,593 SF |
| Space Use |
| Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Floor
| Size | 6,593 SF |
| Space Use | Retail |
| Condition | Full Build-Out |
| Available | Now |
Opens onto the mall. Two display windows. Wood floors. Mezzanine level has finished changing rooms. High ceilings. Walk-in safe. Elevator access for handicapped if also leasing level below. Can connect an additional 3,224 SF of office space with two baths,a kitchen, a mezzanine conference room and an elevator to access Water St. entrance.
PROPERTY TAXES
| Parcel Number | 280-042-000 | Total Assessment | $7,261,600 (2024) |
| Land Assessment | $1,264,500 (2024) | Annual Taxes | $70,770 ($2.63/SF) |
| Improvements Assessment | $5,997,100 (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Presented by
Howard Hanna|Roy Wheeler Realty Co.
Former Hardware Store | 316 E Main St
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