For Sale · 100% Leased with Two Entitled Phases Included
The Only Purpose-Built Off-Campus Community Serving UVA Wise
5606 Campus Ridge Drive Wise Virginia 24293
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For Sale · 100% Leased with Two Entitled Phases Included
5606 Campus Ridge Drive Wise Virginia 24293
No competing purpose-built supply. The sole purpose-built off campus student community serving UVA Wise, where on-campus capacity falls well short of enrollment.
Fully leased with parental guaranties. All 164 beds leased for AY ’26–’27, with parental guaranties on substantially all leases and a by-the-bed structure limiting single-tenant exposure.
Embedded development upside. Phases 2 and 3 are entitled and convey with the sale — an expansion path on land already controlled and permitted.
Built in 2014 with dedicated walk path to campus. Two buildings, ±62,044 net rentable SF, 199 parking spaces and a full amenity package, with minimal deferred capital.
Mark-to-market rent runway. Same-store growth and expense recovery headroom support a ’27–’28 pro forma NOI of $1,096,335.
One South Commercial has been retained on an exclusive basis to offer CampusWalk Wise, a 56-unit, 164-bed purpose-built student housing community delivered in 2014 and located directly adjacent to the University of Virginia’s College at Wise. The community is 100% preleased for AY ’26–’27 and is the only purpose-built, by-thebed community of its scale serving the University. The balance of off-campus supply is conventional apartments and scattered rental houses leased by the unit, not by the bed.
ABOUT WISE, VA
Wise is the county seat of Wise County in far southwest Virginia, roughly 100 miles northeast of Knoxville and 65 miles north of Kingsport–Johnson City. The town’s economy is anchored by three durable institutions: the University of Virginia’s College at Wise, the county government and school system, and a regional healthcare presence.
The broader region has undergone a decades-long economic transition, which matters less here than it appears: student housing demand follows enrollment, not local employment. The University draws from across the region, and those students need beds regardless of the regional economy. Recent regional investment in broadband expansion, the Lonesome Pine industrial sites, and continued state support of the University as an anchor institution supports a stable demand base.
Ryan’s practice at One South Commercial focuses on investment and development site sales throughout Virginia. He brings a detailed, solutions-oriented approach to each transaction and has successfully represented a wide array of buyers and sellers on deals ranging from $1 million to $35 million. A Richmond native with a background in institutional real estate management, Ryan leverages a wide network of industry contacts and his experience “under the hood” to advise One South Commercial’s clients on everything from local sub-markets to national capital markets, and is ready and able to tackle anything in between.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
