Add Listing
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    1006 Market St Charlottesville, VA 22902-5374

    • Medical Office Space
    • 6,096 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1549679
    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

    • Cox Chiropractic Clinic / Alternative Medicine Practice
    • Cox Chiropractic Clinic: Wayne Fusco, DC, Ashley Davenport, DC, Kayla Swingle, DC / Alternative Medicine Practice
    • Emily S. Haas, LCSW / Foster Care Service / Social Service Agency
    • Wayne Scott Fusco / Alternative Medicine Practice
    • Douglas Cox / Alternative Medicine Practice

    Property Details for 1006 Market St

    Year built
    1993
    Lot size
    0.46 lot acres
    Property size
    6,096 SF
    Zone code
    CX-5
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    540277100
    APU
    540277100

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $910,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville City
    State
    Virginia
    Longitude
    -78.4729
    Latitude
    38.0282
    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
    $16,045
    $769,400
    $868,400
    $1,637,800
    -
    $769,400
    $868,400
    $1,637,800

    Comparable in this City

    • Value Estimation by Request
      3,722 SF

      1106 High St

      MEDICAL BUILDING • 3,722 SF
      1106 High St, Charlottesville, VA 22902-4844
      View Details
    • Value Estimation
      $670,000
      4,449 SF

      1100 Jefferson St

      MEDICAL BUILDING • 4,449 SF
      1100 Jefferson St, Charlottesville, VA 22902-5330
      View Details
    • Value Estimation by Request
      1,008 SF

      1101 Jefferson St Ste, Unit 5

      MEDICAL BUILDING • 1,008 SF
      1101 Jefferson St Ste, Charlottesville, VA 22902-5353
      View Details
    • Value Estimation by Request
      3,641 SF

      934 Jefferson St

      MEDICAL BUILDING • 3,641 SF
      934 Jefferson St, Charlottesville, VA 22902-5326
      View Details
    • Value Estimation
      $795,000
      8,860 SF

      1100 High St

      MEDICAL BUILDING • 8,860 SF
      1100 High St, Charlottesville, VA 22902-4844
      View Details
    • Value Estimation by Request
      2,772 SF

      1101 Jefferson St Ste, Unit 4

      MEDICAL BUILDING • 2,772 SF
      1101 Jefferson St Ste, Charlottesville, VA 22902-5353
      View Details

    Similar Nearby for Sale

    • $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
    • $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
    • $1,395,000
      4,761 SF

      Divisible Office Space Available

      Office space for rent, can be divided or combined.
      214-214 E High St, Charlottesville, VA 22902
      View Details
    • $874,900
      2,160 SF

      Downtown Charlottesville Office Space Available

      Office space for rent in Charlottesville's Central Business District.
      412 E Jefferson St, Charlottesville, VA 22902
      View Details
    • $949,500
      4,399 SF

      Downtown Charlottesville Executive Office

      Prime location, 4,399 sq ft, vacant.
      200 Water St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      21,362 SF

      Class A Office Space

      Prime office space with mountain views and convenient parking.
      216-218 W Water St, Charlottesville, VA 22902
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      112,750 SF

      915 East High Street Office Space

      Class A Office, Charlottesville, VA
      915 High St, Charlottesville, VA 22902
      View Details
    • $18 SF/Yr
      24,000 SF

      Downtown Charlottesville Office Space

      Class A Office Suites Available Now
      117 4Th St, Charlottesville, VA 22902
      View Details
    • $28 SF/Yr
      50,000 SF

      Downtown Charlottesville Office Space

      Class A office, prime location, suites available.
      401 Market St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      15,000 SF

      Prime Charlottesville Office Space

      Flexible Suites, Immediate Occupancy
      915 High St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      8,658 SF

      Downtown Charlottesville Office Space

      Prime Office Suites, 8,658 SF Total
      534 Main St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      16,647 SF

      Apex Plaza: Downtown Charlottesville

      Modern Coworking Spaces Available
      120 Garrett St, Charlottesville, VA 22902
      View Details
    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.
    1006 Market St
    Charlottesville, VA 22902-5374
    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!