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

    490 Westfield Rd, Unit STE Charlottesville, VA 22901

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial building with long-term leases on Seminole Trail.

    Property size:
    11,783 SF
    Lot size:
    0.99 Acres

    Property Features for 490 Westfield Rd

    General Information

    Size
    11,783 SF
    Lot size
    0.99 Acres

    We can help!

    Listing Contact
    Tim Carson
    Tim Carson
    Source: Moodyscre

    Listing Agency: REAL ESTATE III, INC. Listing Agent: Tim Carson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Building with Long-Term Leases

    This is a free-standing commercial building with long-term leases in place. The property is currently leased to a hair salon, church offices, a vape/hookah shop, and for storage purposes. The gross rents are significant. The property is zoned C-1 and is located on the corner of Seminole Trail and US RT29.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hookaholic Lounge (Bike/Boat/Book/etc) Store Sigora Solar Solar Energy Company CoinFlip Bitcoin ATM Currency Exchange Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville
    State
    Virginia
    Longitude
    -78.483449
    Latitude
    38.0720572

    Nearby Similar for Sale

    • New
      $649,900
      2,560 SF

      Turnkey Duplex in Charlottesville, VA

      Side-by-side duplex near Fry's Spring. Excellent investment opportunity.
      2520 Naylor St, Charlottesville, VA 22903
      View Details
    • New
      $625,000
      2,640 SF

      Charlottesville Duplex in Martha Jefferson

      Side-by-side duplex near downtown Charlottesville, ideal for investors or owners.
      827 Saint Clair Ave, Charlottesville, VA 22902
      View Details
    • New
      $650,000
      1,950 SF

      Charlottesville Duplex Near University

      Rented duplex near university with long-term tenants.
      821 Cabell Ave, Charlottesville, VA 22903
      View Details
    • $489,900
      1,440 SF

      Charlottesville Duplex Near UVA Hospital

      Charming duplex near UVA Hospital and Downtown Charlottesville.
      1210 Cherry Ave, Charlottesville, VA 22903
      View Details
    • $550,000
      2,016 SF

      Belmont Duplex Near Downtown Charlottesville

      Charlottesville duplex with remodeled unit and fenced backyard.
      1642 Meridian St, Charlottesville, VA 22902
      View Details
    • New
      $219,500

      Top-Floor Condo with Mountain Views

      Comfortable condo with mountain views, close to amenities.
      1252 Villa Ln, Charlottesville, VA 22903
      View Details
    • $1,400,000

      Fontaine Avenue Commercial Opportunity

      Prime location near UVA with restaurant and coffee shop spaces.
      2206 Fontaine Ave, Charlottesville, VA 22903
      View Details
    • $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
    • New
      $375,000

      Modern Condo in Brookhill Commons

      Light-filled, modern 2-bedroom condo in a convenient Charlottesville location.
      915 Salamander St, Charlottesville, VA 22911
      View Details
    • $3,300,000
      7,332 SF

      Charlottesville Building on Two Acres

      Stand-alone building on two acres near I-64 in Charlottesville.
      1791 Richmond Rd, Charlottesville, VA 22911
      View Details
    • New
      $549,975
      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
    • $874,900
      2,160 SF

      Downtown Charlottesville Office Space Available

      Office space for rent in Charlottesville's Central Business District.
      412 E Jefferson St, Charlottesville, VA 22902
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial building with long-term leases on Seminole Trail.
    Where is this retail space located?
    The property is located at 490 Westfield Rd, Unit STE Charlottesville, VA.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: - Free standing commercial building on corner lot; - Significant gross rents; - Long term leases in place
    (434) 465-0846 Call to check price and availability
    Request Owner's contact information
    490 Westfield Rd, Unit STE Charlottesville, VA 22901
    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.
    490 Westfield Rd, Unit STE
    Charlottesville, VA 22901
    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
    490 Westfield Rd, Unit STE Charlottesville, VA 22901
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tim Carson
    Tim Carson
    Real Estate License ID: 0225198839
    (434) 465-0846 (434) 817-9300 (434) 218-0043
    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!