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Investment Highlights

  • Publicly Traded Corporate Tenant on NNN Lease
  • Premier University Market Adjacent to the University of Virginia
  • Price: $3,050,000 | Cap: 6.16% (2027)
  • High-Traffic Seminole Trail Corridor with 55,000 AADT
  • New Construction with Future Development

Executive Summary

The property is situated along Seminole Trail (U.S. Route 29), one of the primary commercial corridors in the Charlottesville market, carrying approximately 55,000 vehicles per day. The subject property is an outparcel to Charlottesville Fashion Square, a 572,000sf regional shopping center anchored by national retailers. Adjacent and nearby tenants include Walmart, Lowe’s, Kroger, Costco, Trader Joe’s, ALDI, Whole Foods, HomeGoods, DSW, TJ Maxx, and Red Lobster. Select Comfort Retail Corporation, d/b/a Sleep Number (NASDAQ: SCSS), operates under a triple-net lease with 10% rent escalations every five years through the initial term and both renewal options. The Tenant is responsible for real estate taxes, property insurance, and all maintenance costs as additional rent. The Landlord retains responsibility for roof and structural components only. Sleep Number’s publicly traded status provides financial transparency and corporate accountability that private tenants cannot offer.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,000 SF
Building Class
B
Year Built
2022
Price
$3,050,000
Price Per SF
$1,016.67
Cap Rate
6.16%
NOI
$187,880
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.91 AC
Zoning
HC
Parking
10 Spaces (3.33 Spaces per 1,000 SF Leased)

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000

Sleep Number began in 1987 as Select Comfort and adopted the Sleep Number name in 2017. Sleep Number focuses on adjustable mattresses and bedding, and the company’s current product lineup also includes pillows, bases, furniture, and other sleep accessories. Sleep Number also centers the business on sleep science and data-driven product research, using smart-bed technology and research collaborations to study sleep quality and related health outcomes. Sleep Number maintains a significant retail presence in the United States and continues to update the mattress portfolio with new collections designed to adapt to changing comfort needs.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - $9.99 Lorem Ipsum Jan 0000
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100

Nearby Major Retailers

First Citizens Bank
Food Lion
Western Sizzlin
Waffle House
Lidl
Charles Schwab
Starbucks
Bank of America
Wells Fargo
Snap Fitness 24/7

Property Taxes

Property Taxes

Parcel Number
06100-00-00-134A0
Land Assessment
$1,505,400
Improvements Assessment
$886,600
Total Assessment
$2,392,000
  • Listing ID: 40147905

  • Date on Market: 4/14/2026

  • Last Updated:

  • Address: 1431 Seminole Trl, Charlottesville, VA 22901

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