Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    607 7 1/2 St Charlottesville, VA 22903

    Sponsored
    For Sale
    $180,000

    Built to Suit Residential - CHARLOTTESVILLE, VA

    Type:Single Family Residence
    Lot size:
    0.18 Acres
    Days on Market:
    12
    Last Refresh:
    Feb 27 at 10:06 pm

    Property Features for 607 7 1/2 St

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    RN-A Residential Core Neighborhood A
    Lot size
    0.18 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    ROBERT RUSSO
    ROBERT RUSSO

    Nest Realty (434) 566-0121

    Listing agent ROBERT RUSSO (434) 566-0121 License #0225057113

    Listing date Feb 16, 2026

    MLS# 673221 Listing URL

    Copyright © 2026 Charlottesville Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Charlottesville Build-Ready Residential Lot

    This .18-acre level lot in Charlottesville presents a build-ready opportunity. Zoned RN-A, the flat site is suited for development. It features a pre-existing curb cut and convenient access to public water and sewer. The property's location provides walkability to the University of Virginia and The Corner. The Smith Aquatic & Fitness Center and Charlottesville Middle School are located in the neighborhood. This lot is suitable for building an income-producing rental property or a streamlined city residence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville
    State
    Virginia
    Longitude
    -78.4942726
    Latitude
    38.0263843

    Nearby Similar for Sale

    • $490,000
      2,345 SF

      Downtown Office Investment Opportunity

      Commercial office property suitable for investors or owner-occupiers.
      1001 E Market St, Charlottesville, VA 22902
      View Details
    • $585,000
      1,590 SF

      Class A Medical Office Space

      First floor, move-in ready medical office space for sale.
      1405 Rolkin Rd, Charlottesville, VA 22911
      View Details
    • $975,000
      2,515 SF

      Charlottesville Office Space For Sale

      2,515 SF office space available in Charlottesville, Virginia.
      206 E Jefferson St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      6,890 SF

      Historic Charlottesville Net Leased Building

      Single-tenant, net leased historic building in downtown Charlottesville.
      206 W Market St, Charlottesville, VA 22902
      View Details
    • $1,425,000
      7,334 SF

      Versatile Commercial Property in Charlottesville

      Spacious property with mixed-use zoning in downtown Charlottesville, Virginia.
      218 Ridge St, Charlottesville, VA 22902
      View Details
    • $5,500,000
      20,200 SF

      Multipurpose Building Near University of Virginia

      20,202 SF Class A building on 6.3 acres.
      3926 Seminole Trl, Charlottesville, VA 22911
      View Details
    • $2,700,000
      11,783 SF

      Commercial Building with Long-Term Leases

      Commercial building with long-term leases on Seminole Trail.
      490 Westfield Rd, Charlottesville, VA 22901
      View Details
    • $749,900

      Charlottesville Specialty Property For Sale

      Specialty property available in Charlottesville, Virginia.
      710 Boulder Hl Ln, Charlottesville, VA 22911
      View Details
    • $369,900

      Charlottesville Specialty Property For Sale

      Specialty property available for purchase in Charlottesville, Virginia.
      518 Jester Ln, Charlottesville, VA 22911
      View Details
    • $575,000

      Charlottesville Specialty Property For Sale

      Specialty property available for purchase in Charlottesville, Virginia.
      5003 Watts Psge, Charlottesville, VA 22911
      View Details
    • $320,000

      Charlottesville Specialty Property For Sale

      Specialty property available for purchase in Charlottesville, Virginia.
      1264 Maple View Dr, Charlottesville, VA 22902
      View Details
    • $675,000

      Charlottesville Specialty Property For Sale

      Specialty property available in Charlottesville, Virginia for $675,000.
      1257 Penfield Ln, Charlottesville, VA 22901
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Prime .18-acre lot near UVA and The Corner.
    Where is this residential land & home lot located?
    The property is located at 607 7 1/2 St Charlottesville, VA.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: - Build-ready .18-acre level lot in Charlottesville.; - Zoned RN-A, suitable for rental property or residence.; - Unbeatable walkability to UVA and The Corner.
    (434) 825-3253
    Request Owner's contact information
    607 7 1/2 St Charlottesville, VA 22903
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    607 7 1/2 St
    Charlottesville, VA 22903
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    607 7 1/2 St Charlottesville, VA 22903
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    ROBERT RUSSO
    ROBERT RUSSO
    Real Estate License ID: 0225057113
    (434) 825-3253 (434) 566-0121
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!