Address
6414 Jefferson Mill Road, Scottsville, VA
Price
$ 7,600,000
Property Attributes
- MLS#VAAB2000598
- TypeCommercial
- CountyALBEMARLE
- CityScottsville
- Zip24590
- StyleBed and Breakfast,/General Retail,Recreation,Relig
- Year Built2014
- Taxes$ 4259
- Price$ 7,600,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size289.4 Acres
Data Source:
Bright MLS
Property Description
Introducing a unique opportunity to purchase a community of nine single-family homes and five finished lots in Albemarle County with an additional eleven lots permitted by-right. The property is included within the 5,000 acres comprising Mount Ida Reserve. Each home and lot are located within minutes of the Tasting Room & Tap House at Mount Ida Reserve and downtown Charlottesville, the Farms at Jefferson Mill is a beautiful neighborhood of colonial homes situated on over 250 acres of rolling hills with extensive road and river frontage. The homes are thoughtfully constructed with similar footprints for easy management. Each home lot boasts hardi-plank siding, 2,100 -3,000 square feet of living space, 4-5 bedrooms, 3.5-2.5 baths, attached 2 car garage, 20 x 12 deck and an 1,100 square foot unfinished walk-out basement roughed in for an additional bedroom and bathroom. In addition to the nine existing homes, the assemblage offers five additional buildable lots plus another eleven development rights on the remainder of the acreage for a total of 25 potential homes that can be constructed by-right. Existing infrastructure (underground electric and fiber) are in place. The Farms at Jefferson Mill can be operated as a single-family home community or managed as a short- or long-term rental community to serve the more than 50,000 annual guests of Mount Ida Reserve. Historically, long-term rentals generate an annual income of $228,000, while short-term rentals have proven to be more profitable, with recent annual earnings of $288,000. The demand for short-term rentals is remarkably consistent, with weekends generating $3,000 per stay. Coupled with this income, the additional by-right development offers extensive upside for a rarified investment opportunity.
| Price History | |
|---|---|
| 4/30/2024 | Listed $7,600,000 |
General Features
| Sewer | Septic Exists |
|---|---|
| Heating | Heat Pump(s) |
| Cooling | Central A/C |
| Possession | Immediate,Settlement |
| Zoning | RA |
| Construction Materials | HardiPlank Type |
| Year Built | 2014 |
| Property SubType | Five Or More Units |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Business Type | Bed and Breakfast,Other/General Retail,Recreation,Religious Facility,Restaurant/Bar |
| Accessibility | None |
| County | ALBEMARLE |
| New Construction | No |
| Property Type | Commercial Sale |
| Water Access Y/N | No |
| Status | ACTIVE |
| Directions | Google or Waze |
| ModificationTimestamp | 2024-05-02T22:58:58 |
| City | SCOTTSVILLE |
| Buyer Agent Compensation | 3 |
| Total Units | 1 |
| Lot Size Square Feet | 12606264.00 |
| Tax Assessed Value | 498700.0 |
| Waterfront Y/N | No |
| Street Name | JEFFERSON MILL |
| Tax Annual Amount | 4259.0 |
| Price Per Sq Ft | 300.56 |
| Vacation Rental Y/N | No |
| Days on Market | 4 |
| Standard Status | Active |
| Year Built Source | Estimated |
| Legal Subdivision | The Farms at Jefferson Mill |
| Tax Lot | 34C7 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Central |
|---|---|
| Hot Water | Other |
| Heating Y/N | Yes |
| Street Suffix | ROAD |
| Central Air Y/N | Yes |
Exterior Features
| Water Source | Well |
|---|---|
| Type of Parking | Other |
| Water View Y/N | No |
| Building Area Total | 25286.00 |
| Lot Size Acres | 289.40 |
| Lot Size Units | Square Feet |
| Lot Size Source | Estimated |
| Land Assessed Value | 164100.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 24590
Price
Taxes
Visits
Year Built
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