Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mixed-Use Development Land Opportunity Title is generated by Realmo AI

    611 & 604 BOOKER ST, Charlottesville, VA 22903

    View on Map
    Claim this Listing
    For Sale
    $700,000

    LAND - CHARLOTTESVILLE, VA

    Lot size:
    0.28 Acres
    Added:
    Jun 29, 2023
    Days on Market:
    1071
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 611 & 604 BOOKER ST

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    360095000
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    PT LOT 9 BK 1 PRESTON PARK and LOT 8 BK 1 PRESTON PARK
    Tax Annual Amount
    426075

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    ROBERT RUSSO
    ROBERT RUSSO

    Listing agent ROBERT RUSSO License #0225057113[792]

    Listing office NEST REALTY GROUP 1135 Rose Hill Drive, Suite 100, Charlottesville, VA

    Listing date Jun 29, 2023

    MLS# 643151 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.

    HighLights

    • 0.28‑acre, multi‑parcel development opportunity with 140 ft of frontage on Preston Ave in the City of Charlottesville
    • Both lots are in the Mixed Use CX‑3 zoning designation
    • Public water available
    • Public sewer available
    • Location between Preston Shopping Center and the Wellness center, with easy walking distance to Dairy Market and The Downtown Mall
    • Easy automobile access from Booker Street

    Overview

    This offering includes two parcels totaling 0.28 acres of development land. The lots together provide 140 feet of frontage on Preston Ave and are available for a multi-parcel development approach. Both parcels are designated Mixed Use CX-3, supporting a range of development possibilities consistent with the zoning designation provided.

    The property is described as being in the heart of Charlottesville, positioned between the Preston Shopping Center and a Wellness center. The location also offers easy walking distance to Dairy Market, the Downtown Mall, and numerous shops and restaurants. Automobile access is noted as being easy from Booker Street.

    For prospective buyers and developers, the combination of multi-parcel configuration, measured frontage, and CX-3 Mixed Use designation makes this site practical for planning a street-facing project where zoning alignment matters. It is best suited for users and developers seeking a centrally located infill-style land opportunity with frontage on Preston Ave and convenient surrounding amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    -78.489402
    Latitude
    38.037991

    Nearby Similar for Sale

    • $2,630,000
      3,000 SF

      Retail Building on Seminole Trail

      Retail property on a high-traffic commercial corridor.
      1431 SEMINOLE TRL, CHARLOTTESVILLE, VA 22901
      View Details
    • $519,000
      2,400 SF

      Remodeled Side-by-Side Duplex

      Side-by-side duplex with comprehensive updates, offering turn-key flexibility for owner-occupants or rental investors.
      530 CLEVELAND AVE, CHARLOTTESVILLE, VA 22903
      View Details
    • $825,000
      2,300 SF

      Two-Unit Brick Income Duplex

      Two separately metered units with shared laundry and off-street parking, positioned on a nearly half-acre lot zoned CX-5.
      2401 FONTAINE AVE, CHARLOTTESVILLE, VA 22903
      View Details
    • $650,000
      1,950 SF

      Duplex With In-Unit Laundry

      Two well-kept units in Charlottesville, including in-unit washer/dryer, with one unit on terrace level.
      821 CABELL AVE, CHARLOTTESVILLE, VA 22903
      View Details
    • $525,000
      2,016 SF

      Remodeled Duplex with Fenced Yard

      Two separate residences with remodeled downstairs unit, central A/C, separate metering, and a large fenced back yard.
      1642 MERIDIAN ST, CHARLOTTESVILLE, VA 22902
      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
    • $180,000

      Fry's Spring Buildable Lot

      Buildable lot near UVA in Charlottesville's Fry's Spring neighborhood.
      202 Raymond Avenue, Charlottesville, VA 22903
      View Details
    • $475,000
      2,000 SF

      Two-Unit Residential Income Property

      Two separate levels offer two-bed and one-bed layouts, with off-street parking and a fully fenced yard.
      511 STONEHENGE AVE, CHARLOTTESVILLE, VA 22902
      View Details
    • $575,000

      Residential Land Near Charlottesville

      Private 84.76-acre parcel with homesite near University of Virginia.
      POORHOUSE RD, CHARLOTTESVILLE, VA 22903
      View Details
    • $1,500,000

      Charlottesville Commercial Land For Sale

      0.65 acre commercial parcel on high demand 5th St.
      000 SW 5TH ST, CHARLOTTESVILLE, VA 22903
      View Details
    • $315,000

      Waterfront Land Across Lake Access

      Build-ready acreage across from public Lake Albemarle access, offering privacy, scenic character, and flexible homesite options.
      2010 Lakeside Drive, Charlottesville, VA 22901
      View Details
    • $1,495,000

      Charlottesville Home Sites Portfolio

      Portfolio of 9 home sites in the heart of Charlottesville.
      PRESTON AVE lot: 1, CHARLOTTESVILLE, VA 22903
      View Details

    FAQs

    What type of property is this?
    Commercial land - Multi-parcel land with 140 feet of frontage and CX-3 Mixed Use designation for flexible development in Charlottesville.
    Where is this commercial land located?
    The property is located at 611 & 604 BOOKER ST Charlottesville, VA.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: 0.28‑acre, multi‑parcel development opportunity with 140 ft of frontage on Preston Ave in the City of Charlottesville; Both lots are in the Mixed Use CX‑3 zoning designation; Public water available
    (434) 825-3253
    We can help!
    Listing Contact
    ROBERT RUSSO
    ROBERT RUSSO
    Real Estate License ID: 0225057113[792]
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    611 & 604 BOOKER ST, CHARLOTTESVILLE, VA 22903
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!