The New House Company
Listed by The New House Company
$949,000
2305 Commonwealth Dr
Details
Property Type Office
Sub Type Traditional Office
Square Footage 4,650
Net Rentable (SqFt) 1,555
Occupancy 80%
Tenancy Multi
Lease Type Gross
Pro-Forma Cap Rate 5.10%
Pro-Forma NOI $55,000
Class B
Year Built 1972
Year Renovated 2024
Acreage 0.469
Office | 4,650 SqFt
Marketing description
2305 Commonwealth Drive is an elegant office building with bright, spacious interiors, high ceilings, and decorative fireplaces. The property is ideally located just off Route 29 North, with excellent access to the U.S. 250 Bypass and I-64.
The building features a diverse tenant mix, including long-term tenants who provide stable rental income, while also offering vacant suites for upside potential through lease-up.
List Price: $949,000
Investment highlights
- List Price: $949,000
- New Roof (2024) – Major capital improvement completed
2026 Replacement Windows and exterior painting scheduled
- Long-term tenants providing reliable income
- Vacancy offers opportunity to increase NOI
- Year Built: 1972
- 0.469-acre parcel with plenty of parking
- Prime Charlottesville location with excellent access to Route 29, US 250 Bypass, and I-64
- Elegant design with fireplaces, high ceilings, and bright offices
- Offered just above tax assessment
- Building Features: Elegant office property with high ceilings, decorative fireplaces, and bright, spacious suites
- Recent Improvement: New roof installed in 2024
- Parking: Ample on-site parking
- Occupancy: Mix of long-term tenants and vacancies for upside potential
Listing Contacts
The New House Company
Listed by The New House Company
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Zoning
CO CommercialOfficeCommercial Office
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