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    Property profile & analytics

    401 Market St Charlottesville, VA 22902

    • Office Properties & Spaces
    • 49,496 SF
    • 0.57 lot acres
    For Lease
    View listing
    $28 SF/Yr
    Value Estimation
    Location Intelligence
    Property ID
    US87-1483920
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Enterprise Center / Business Center
    • Kaelber, Billmyer & Kaelber, LLC / Tax Preparation Service / Tax Consultant
    • Affiliated Spartan SR-22 Insurance Group / Insurance Company
    • FedEx Drop Box / Mailing Service
    • Thomas Long - Morgan Stanley / Financial Consultant / Investment Service

    Property Details for 401 Market St

    Year built
    1953
    Lot size
    0.57 lot acres
    Property size
    49,496 SF
    Zone code
    DX
    Property type
    Office Properties & Spaces
    APN
    530051000
    APU
    530051000

    Description

    This Class A office building, located at 401 E Market St in Charlottesville, VA 22902, offers a prime location in the heart of the city. The 10,000 square foot building, constructed in 1957 and renovated in 1999, boasts a striking skylighted atrium connecting two buildings. Currently, one executive suite is available, measuring 375 square feet. This suite is part of a larger complex with a total of two suites. The building features a single hydraulic elevator and is conveniently located one block from the courthouses and the downtown pedestrian mall, across from a parking structure, and two blocks from another. Amenities include a central reception area, mail and package receiving, a large shared conference room, and a full kitchen. Optional add-ons for tenants include phone service with voicemail and internet access. The building's zoning is DH. This exceptional opportunity provides immediate access to the vibrant downtown Charlottesville area, offering unparalleled convenience and accessibility for businesses. The suite is part of a larger, unified structure exceeding 60,000 square feet, establishing it as a premier commercial office location.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville City
    State
    Virginia
    Longitude
    -78.4784
    Latitude
    38.031
    CBSA code
    16820
    CBSA name
    CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $122,652
    $1,980,300
    $10,527,100
    $12,507,400
    -
    $1,980,300
    $10,527,100
    $12,507,400

    Comparable in this City

    • Value Estimation by Request
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      114 3rd NE St

      OFFICE (GENERAL) • 3,276 SF
      114 3rd NE St, Charlottesville, VA 22902-5224
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    • Value Estimation by Request
      42,336 SF

      120 7th NE St

      OFFICE (GENERAL) • 42,336 SF
      120 7th NE St, Charlottesville, VA 22902-5392
      View Details

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    Similar Nearby for Lease

    • $23 SF/Yr
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      401 Market St, Charlottesville, VA 22902
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      Downtown Charlottesville Office Suites

      Two suites available, prime location.
      600 Water St, Charlottesville, VA 22902
      View Details
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    401 Market St
    Charlottesville, VA 22902
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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
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