Riverbend Development Sells Ground-Leased Retail Property In Charlottesville For $9.1M
1150 5th Street Southwest
$9,100,000
Building Size
—
Asset Type
Retail
Closing
May 20, 2026
AI
The property asset involved in the transaction is a retail ground lease located at 1150 5th Street Southwest, Charlottesville, VA. It features a total square footage of 400,000, with a sale price of $9,100,000, equating to a price per square foot of $23.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,100,000
- Sale Date: 05/20/2026
- Seller: Riverbend Development
- Broker: Catharine Spangler - Cushman & Wakefield
- Ground Lease Duration: 20 years
- Location: Entrance to 5th Street Station, a Wegmans-anchored power center
Cushman & Wakefield | Thalhimer’s Capital Markets Group represents Riverbend Development in this sale transaction, highlighting their role in facilitating the deal concerning the ground-leased Wawa property.
Players
Charlottesville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93