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    1535-1636 Rio Rd E Charlottesville, VA 22901

    For Sale
    Contact for pricing

    42.29 acres of land for redevelopment in Charlottesville, VA.

    Lot size:
    42.29 Acres

    Property Features for 1535-1636 Rio Rd E

    General Information

    Lot size
    42.29 Acres

    Source: The Shopping Center Group | Newport News Agent Debra Ramey

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

    Overview

    Redevelopment Opportunity on Rio Road

    This offering presents a redevelopment opportunity encompassing 42.29 acres. The ground lease for the land extends until April 30, 2076. The property is situated in a prime area suitable for a multi-use project. The existing mall is a single-story structure. The zoning is designated as PD-SC. The Home Depot will locate their store on the former Sears pad. The purchaser acquires all rights to construct or demolish improvements on the land. Belk Men's occupies 60,707 square feet under a lease agreement. The former JCPenney, totaling 96,052 square feet, and Belk Women's are excluded from the redevelopment offer.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville
    State
    Virginia
    Longitude
    -78.4743942
    Latitude
    38.0780722

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    FAQs

    What type of property is this?
    Land - 42.29 acres of land for redevelopment in Charlottesville, VA.
    Where is this land located?
    The property is located at 1535-1636 Rio Rd E Charlottesville, VA.
    What are key features of this property?
    This property features: - Prime area for redevelopment as a multi-use project.; - All rights to build/demolish improvements on the land to be acquired.; - Home Depot will locate their store on the former Sears pad.
    (757) 722-2500
    Request Owner's contact information
    1535-1636 Rio Rd E Charlottesville, VA 22901
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    Realmo Value Estimation

    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.

    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.

    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
    1535-1636 Rio Rd E Charlottesville, VA 22901
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