$1,200,000

Prime Charlottesville development opportunity zoned NX-8 (Node Mixed Use 8), offering substantial flexibility for redevelopment. The zoning permits residential, office, retail and other mixed-use/commercial uses, with no maximum number of dwelling units per lot and no maximum building coverage specified by the NX-8 district. Base building height is up to 8 stories/114 feet, with potential for up to 11 stories/156 feet through the applicable affordable-dwelling-unit bonus, subject to all City requirements. NX-8 also permits buildings to be located 0–10 feet from the primary and side street lot lines, with no minimum side or rear setback (5 feet from an alley). A minimum of 10% of the lot must be provided as outdoor amenity space. Parking is prohibited in the front and side-street yards but permitted in side and rear yards. This property offers potential for multifamily residential, office, retail or mixed-use redevelopment in a highly desirable Charlottesville location. Buyers should independently verify zoning, permitted uses, development standards, density, height, parking and all other development requirements with the City of Charlottesville.