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

    404 8th St NE Charlottesville, VA 22902

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Second-floor office space with parking in Charlottesville, Virginia.

    Type:Office
    Added:
    Sep 20, 2019
    Days on Market:
    2406
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 404 8th St NE

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 404 8th St NE Contact us

    Unit C $18 /Mo

    Size
    960 SF
    Type
    Office
    Second floor space close to Downtown Charlottesville, minutes from the Court houses.
    Contact us

    We can help!

    Listing Contact
    Robin Amato
    Robin Amato

    Listing agent Robin Amato License #VA 0225026234

    Listing office Real Estate III Commercial Properties

    Listing date Sep 20, 2019

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Real Estate III Commercial Properties

    Overview

    Office Space with Parking Available

    This office space is available for rent and is located on the second floor of a building. The rental agreement is all-inclusive, with the exception of interior janitorial services and internet. The property includes three available parking spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Seasonal Workforce Strategies Business Service Center A Healing Touch Alternative Medicine Practice F & W Forestry ... Professional Services Berthoud Heidi Alternative Medicine Practice Charlottesville Center for Functional ... Medical Clinic

    Suggested Use

    Real Estate Agency Dental Office Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville
    State
    Virginia
    Longitude
    -78.4747152
    Latitude
    38.0319994

    Nearby Similar for Lease

    • $1.00/mo

      Charlottesville Stand Alone Building

      Prime building on two acres near I-64 in Charlottesville.
      1791 RICHMOND RD, Charlottesville, VA 22911
      View Details
    • $1.00/mo

      Restaurant with Drive Thru Available

      Equipped restaurant with drive-thru in Charlottesville's Pantops area.
      1192 RICHMOND RD, Charlottesville, VA 22901
      View Details
    • $15/mo

      Restored Office Building Near UVA

      Renovated office space with heartpine floors and skylights.
      707-709 W Main St, Charlottesville, VA
      View Details
    • $1.00/mo

      Charlottesville Restaurant with Drive-Thru

      Equipped restaurant with drive-thru in booming Charlottesville area.
      1192 RICHMOND RD, CHARLOTTESVILLE, VA 22901
      View Details
    • Contact for pricing

      Office Space with Vaulted Ceiling

      Office space featuring open layout, kitchenette, and full bath.
      2350 Commonwealth Dr , Charlottesville, VA
      View Details
    • $29/mo

      Charlottesville Office Space Available

      Office space available totaling 4399 square feet in Charlottesville.
      200-300 E Water St, Charlottesville, VA
      View Details
    • Contact for pricing

      Executive Offices with Shared Amenities

      Individual offices with shared amenities available for lease.
      1024 Carrington , Charlottesville, VA
      View Details
    • $1.00/mo

      Prime Building Near I-64

      Stand-alone building on two acres, minutes from I-64.
      1791 RICHMOND RD, CHARLOTTESVILLE, VA 22911
      View Details
    • $26/mo

      Retail Space Near UVA Grounds

      Retail space available near Barracks Road Shopping Center and UVA.
      1035-1051 Millmont St, Charlottesville, VA
      View Details
    • Contact for pricing

      Pantops Office Suite For Rent

      Two-room office suite in convenient Pantops location near Martha Jefferson.
      1650 State Farm Blvd, Charlottesville, VA
      View Details
    • Contact for pricing

      Pantops Drive Office Space Available

      Second floor office space with great views and location.
      140 South Pantops Dr, Charlottesville, VA
      View Details
    • $21/mo

      Renovated Office with Private Offices

      Newly renovated office space with five private offices available now.
      3040 Berkmar Dr, Charlottesville, VA
      View Details

    FAQs

    What type of property is this?
    Office units - Second-floor office space with parking in Charlottesville, Virginia.
    Where is this office units located?
    The property is located at 404 8th St NE Charlottesville, VA.
    What are key features of this property?
    This property features: 3 parking spaces available; All inclusive; Second floor
    (434) 906-1240 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Robin Amato
    Robin Amato
    Real Estate License ID: VA 0225026234
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!