401-419 W Main St - Office FOR SALE


Charlottesville, VA 22903
$14,982,956 USD
804-869-3492
401-419 W Main St, Charlottesville, VA for Sale
$14,982,956 USD
Office - FOR SALE
1/2
null | 5.75% Cap Rate

401-419 W Main St
Charlottesville, VA 22903


HIGHLIGHTS

  • 20 year Absolute Net Sale Leaseback.
  • Annual Rent of $861,520 ($10 PSF).
  • Tenant is Brightspeed, a subsidiary of Apollo Global Management.
  • Mission Critical Site- Brightspeed/its predecessors have continuously operated at the location for over 70 years.

OVERVIEW

The subject property serves as the Central Office (CO) for Brightspeed of Virginia’s telecom and fiber network. This location has served as a Central Office for various telecom companies for roughly 70 years. Because of the physical infrastructure and industry specific function of the building, the property is vitally important to Brightspeed’s physical network. The building itself is approximately 86,152 SF and sits on 1.11 acres in Downtown Charlottesville on Historic West Main Street. The building carries a historic designation on the National Register of Historic Places. West Main Street connects Charlottesville’s Downtown Mall with The University of Virginia. The Downtown Mall is Charlottesville’s historic pedestrian mall that is home to over 120 shops and over 30 restaurants. The University of Virginia is consistently ranked as one of the top public universities in the country, with over 17,000 undergraduate students and a total enrollment just shy of 22,000 students. Charlottesville, VA is rich in history and home to two UNESCO World Heritage Sites: Thomas Jefferson’s Monticello and The University of Virginia. The city itself has a population of roughly 47,000 while the total MSA is home to over 225,000 residents. The region is known for its highly educated workforce, due largely in part to The University of Virginia. Albemarle County surrounding Charlottesville also has a growing defense industry presence that contributes $1.2 billion of regional economic impact annually. The region is known for its natural beauty at the foothills of the Blue Ridge Mountains and world renowned wineries and vineyards.

FOR SALE DETAILS

PRICE

$14,982,956 USD

PRICE/SF

$174 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brightspeed

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

CX-5

APN/PARCEL ID

320-179-000

ASK ABOUT THIS PROPERTY

Austin Newman, SIORS.L. Nusbaum Realty Co.More Info
804-869-3492

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Austin Newman, SIORS.L. Nusbaum Realty Co.More Info
804-869-3492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.