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

    400 Westfield Rd Charlottesville, VA 22901

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Rare 83-acre Charlottesville warehouse site.

    Property Features for 400 Westfield Rd

    General Information

    Property type
    Distribution properties

    We can help!

    Listing Contact
    Benton Downer
    Benton Downer

    Listing Agency: Downer and Associates Listing Agent: Benton Downer

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 83-acre industrial property, located at 400 Westfield Road in Charlottesville, Virginia (zip code 22901), presents a unique investment opportunity. Situated in Albemarle County, this warehouse site is the last available lot on Westfield Road and offers significant potential. The property requires site plan approval before development can commence. Priced below assessed value, the seller is highly motivated to facilitate a quick sale. The location within an Opportunity Zone provides additional tax advantages for qualified investors. This is a rare opportunity, as very little similarly zoned land remains available in Charlottesville. The property's size and zoning flexibility are key highlights. The seller is open to considering splitting the property. One option involves dividing the land into two parcels: an 83-acre lot for $885,000 and a smaller 0.32-acre lot for $345,000. Alternatively, the property could be subdivided into two approximately 0.575-acre sites, each priced at $575,000. This flexibility allows for various development scenarios, catering to diverse investor needs and project scales. Don't miss this chance to acquire a prime industrial site in a thriving Virginia market. Contact us today to explore this compelling investment opportunity further.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.48474
    Latitude
    38.073653

    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?
    Distribution property - Rare 83-acre Charlottesville warehouse site.
    Where is this distribution property located?
    The property is located at 400 Westfield Rd Charlottesville, VA.
    What are key features of this property?
    This property features: 83-acre industrial land in Charlottesville, VA (22901), located on Westfield Road.; Last available lot on Westfield Road; requires site plan approval.; Priced below assessed value; seller motivated for quick sale; located in an Opportunity Zone.
    (434) 296-0545 Call to check price and availability
    Request Owner's contact information
    400 Westfield Rd 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.
    400 Westfield Rd
    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
    400 Westfield Rd 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 Benton Downer
    Benton Downer
    (434) 296-0545 (434) 531-7485
    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!