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834 Monticello Rd
Charlottesville, VA 22902
Belmont Market · Retail Property For Sale
Investment Highlights
- Unparalleled Downtown Belmont Location
- Adaptive Reuse or Redevelopment Opoortunity
- Utilize existing plans or envision alternate uses
- Iconic historic building on prime corner lot
- Permitted 8-bed boutique hotel with wine bar ready to commence construction
- CX-3 Zoning offers opportunity to add additional density
Executive Summary
834 Monticello Road presents a rare opportunity to acquire the historic Belmont Market Building in the heart of Charlottesville’s Belmont neighborhood. This property offers a fully designed adaptive reuse plan, currently envisioned as an 8-unit boutique hotel with a street-front wine bar. Situated on a prime corner lot, the site benefits from CX-3 zoning, allowing for by-right expansion and additional density.
The property’s location provides exceptional connectivity, just steps from some of Charlottesville’s most acclaimed restaurants and within walking distance to the Downtown Mall. Investors can leverage existing plans or pursue alternate uses, capitalizing on the area’s strong demand for hospitality, retail, and mixed-use concepts. With renovations scheduled to commence in 2025, this asset offers significant upside potential in one of the city’s most vibrant and walkable districts.
The property’s location provides exceptional connectivity, just steps from some of Charlottesville’s most acclaimed restaurants and within walking distance to the Downtown Mall. Investors can leverage existing plans or pursue alternate uses, capitalizing on the area’s strong demand for hospitality, retail, and mixed-use concepts. With renovations scheduled to commence in 2025, this asset offers significant upside potential in one of the city’s most vibrant and walkable districts.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,950 SF
Year Built
1920
Tenancy
Single
Building Height
2 Stories
Building FAR
0.45
Lot Size
0.15 AC
Zoning
NCC - Mixed Commercial/Residential Use
Parking
7 Spaces (2.37 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Corner Lot
- Fireplace
- Security System
- Signage
- Storage Space
- Air Conditioning
Property Taxes
| Parcel Number | 580-256-000 | Improvements Assessment | $346,100 |
| Land Assessment | $473,500 | Total Assessment | $819,600 |
Property Taxes
Parcel Number
580-256-000
Land Assessment
$473,500
Improvements Assessment
$346,100
Total Assessment
$819,600
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