Log In/Sign up
Your email has been sent.
Former Hardware Store 317 E Water St 28,500 sq ft 50% Let Office Property Charlottesville, VA 22902 £4,110,205 (£144.22/sq ft) 6% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Fronts on downtown walking mall
- Much of the space is open with exposed ceilings & walls.
- Completely remodeled in 2008 to become a Class A building.
EXECUTIVE SUMMARY
Huge price reduction of $1.MM.
Bldg. is 50% occupied. The major tenant agreed to a buy-of out the remaining 3 years of a long-term lease due to a post Covid employee "work from home business plan."Their lease covered the 3rd & 4th floor. So it is available for occupancy by a new user owner at settlement. New Leasing details are available through the listing broker. Two new tenants started leases on July 1, 2025. The Projected Gross Scheduled rent is $490,000 from forecasting rental income. The projected NOI is $330,000. CAP Rate is 6.00% with those projected rents. Owner will consider negotiating a guaranteed master lease for the vacant space of 11,920 SF for a limited time.
Bldg. is 50% occupied. The major tenant agreed to a buy-of out the remaining 3 years of a long-term lease due to a post Covid employee "work from home business plan."Their lease covered the 3rd & 4th floor. So it is available for occupancy by a new user owner at settlement. New Leasing details are available through the listing broker. Two new tenants started leases on July 1, 2025. The Projected Gross Scheduled rent is $490,000 from forecasting rental income. The projected NOI is $330,000. CAP Rate is 6.00% with those projected rents. Owner will consider negotiating a guaranteed master lease for the vacant space of 11,920 SF for a limited time.
DATA ROOM Click Here to Access
- Market Information
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£366,182
|
£12.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£366,182
|
£12.85
|
| Taxes |
£52,984
|
£1.86
|
| Operating Expenses |
£59,112
|
£2.07
|
| Total Expenses |
£112,096
|
£3.93
|
| Net Operating Income |
£254,085
|
£8.92
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | £366,182 |
| Annual Per sq ft | £12.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | £366,182 |
| Annual Per sq ft | £12.85 |
| Taxes | |
|---|---|
| Annual | £52,984 |
| Annual Per sq ft | £1.86 |
| Operating Expenses | |
|---|---|
| Annual | £59,112 |
| Annual Per sq ft | £2.07 |
| Total Expenses | |
|---|---|
| Annual | £112,096 |
| Annual Per sq ft | £3.93 |
| Net Operating Income | |
|---|---|
| Annual | £254,085 |
| Annual Per sq ft | £8.92 |
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Property Size
28,500 sq ft
Costar Property Class
A
Year Built/Renovated
1908/2008
Price
£4,110,205
Price per sq ft
£144.22
Yield
6%
NOI
£246,612
Occupancy Rate
50%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
7,125 sq ft
Plot ratio
4.36
Total Plot Size
0.15 ac
Use Class
DH - Downtown Historic district allows many commercial uses i.e. office, retail, professional, banking, medical, artisans.
AMENITIES
- Controlled Access
- Security System
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE TYPE
- LEASE END
- Sanker Media LLC
- Service type
- 3,224 sq ft
- £9.97
- Modified Gross
- Jun 2027
-
- Professional, Scientific, and Technical Services
- 12,145 sq ft
- £20.48
- Modified Gross
- Jul 2028
Silverchair believes that innovation has the potential to fulfill the greatest promises of scholarship. As the leading independent platform partner for scholarly and professional publishers, the company serves its growing community through flexible technology and unparalleled services. Their teams build, maintain, and innovate platforms across the publishing lifecycle—from idea to impact. The company's products facilitate submission, peer review, hosting, dissemination, and impact measurement, empowering researchers and professionals to maximize their contributions to the world. Silverchair's vision is to help publishers thrive, evolve, and fulfill their missions.
Uplift Training Club
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE TYPE | LEASE END | |
| Sanker Media LLC | Service type | 3,224 sq ft | £9.97 | Modified Gross | Jun 2027 | |
|
|
Professional, Scientific, and Technical Services | 12,145 sq ft | £20.48 | Modified Gross | Jul 2028 | |
| Uplift Training Club | Arts, Entertainment, and Recreation | 8,424 sq ft | £10.65 | Modified Gross | Feb 2028 |
SPACE AVAILABILITY
- SPACE
- SIZE
- USE
- CONDITION
- AVAILABLE
- 4th Floor
- 5,960 sq ft
- Office
- Full Fit-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 3rd Floor | 5,960 sq ft | Office | Full Fit-Out | Now |
| 4th Floor | 5,960 sq ft | Office | Full Fit-Out | Now |
3rd Floor
| Size |
| 5,960 sq ft |
| Space Use |
| Office |
| Condition |
| Full Fit-Out |
| Available |
| Now |
4th Floor
| Size |
| 5,960 sq ft |
| Space Use |
| Office |
| Condition |
| Full Fit-Out |
| Available |
| Now |
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3rd Floor
| Size | 5,960 sq ft |
| Space Use | Office |
| Condition | Full Fit-Out |
| Available | Now |
1 1
Walk Score®
Excellent pedestrian access (99)
Bike Score®
Ideal For Cyclists (90)
PROPERTY TAXES
| Parcel Number | 280-042-000 | Total Assessment | £5,533,681 |
| Land Assessment | £944,973 | Annual Taxes | £52,984 (£1.86/sq ft) |
| Improvements Assessment | £4,588,707 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
280-042-000
Land Assessment
£944,973
Improvements Assessment
£4,588,707
Total Assessment
£5,533,681
Annual Taxes
£52,984 (£1.86/sq ft)
Tax Year
2025 Payable 2025
1 of 51
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Howard Hanna|Roy Wheeler Realty Co.
Former Hardware Store | 317 E Water St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.