Sign Up Successful!
You now have access to more from Realmo!
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

    1021 Wertland St Charlottesville, VA 22903-2876

    • Apartment buildings
    • 39,146 SF
    • 1.37 lot acres
    OFF-MARKET
    Value Estimations
    $885,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1591450
    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

    • Wertland Apartments / Apartment Building

    Property Details for 1021 Wertland St

    Year built
    1999
    Lot size
    1.37 lot acres
    Property size
    39,146 SF
    Zone code
    RX-5
    Property type
    Apartment buildings
    APN
    40314000
    APU
    40314000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $720,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,049,000
      Market price range: $543k - $1.71M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,040,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville City
    State
    Virginia
    Longitude
    -78.4949
    Latitude
    38.0347
    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
    $83,979
    $802,400
    $7,965,400
    $8,767,800
    -
    $802,400
    $7,965,400
    $8,767,800

    Comparable in this City

    • Value Estimation by Request
      4,368 SF

      1200 Wertland St, Unit 6

      APARTMENT HOUSE (5+ UNITS) • 4,368 SF
      1200 Wertland St, Charlottesville, VA 22903-2873
      View Details
    • Value Estimation by Request
      29,988 SF

      2021 Ivy Rd

      APARTMENT HOUSE (5+ UNITS) • 29,988 SF
      2021 Ivy Rd, Charlottesville, VA 22903-1755
      View Details
    • Value Estimation
      $1,060,000
      59,388 SF

      1815 Jefferson Park Ave

      APARTMENT HOUSE (5+ UNITS) • 59,388 SF
      1815 Jefferson Park Ave, Charlottesville, VA 22903-3565
      View Details
    • Value Estimation
      $575,000
      30,345 SF

      1830 Jefferson Park Ave

      APARTMENT HOUSE (5+ UNITS) • 30,345 SF
      1830 Jefferson Park Ave, Charlottesville, VA 22903-3149
      View Details
    • Value Estimation
      $900,000
      37,193 SF

      1725 Jefferson Park Ave

      APARTMENT HOUSE (5+ UNITS) • 37,193 SF
      1725 Jefferson Park Ave, Charlottesville, VA 22903-3229
      View Details
    • Value Estimation
      $1,500,000
      137,387 SF

      704 Madison Ave

      APARTMENT HOUSE (5+ UNITS) • 137,387 SF
      704 Madison Ave, Charlottesville, VA 22903-2131
      View Details

    Similar Nearby for Sale

    • $485,000

      Charming Brick Home Near UVA

      All-brick home near UVA, perfect as duplex or income property.
      116 Olinda Dr, Charlottesville, VA 22903
      View Details
    • $695,000
      2,240 SF

      Spacious Duplex in Quiet Neighborhood

      Turnkey investment: two 3-bed, 3-bath units with long-term tenants.
      158 Buckingham Cir, Charlottesville, VA 22903
      View Details
    • $4,200,000

      Downtown Charlottesville Development Land

      Prime infill site, high rental income.
      406 Main St, Charlottesville, VA 22903
      View Details
    • $495,000
      0.40 Acres

      Land Near University of Virginia

      Land near UVA for multi-family development.
      112 Montpelier St, Charlottesville, VA 22903
      View Details
    • Contact for pricing

      Land on Fontaine Avenue

      0.422 acres of land available on Fontaine Avenue.
      2401 Fontaine Ave, Charlottesville, VA 22903
      View Details
    • $555,980

      Charlottesville Specialty Property For Sale

      Specialty property available for purchase in Charlottesville, Virginia.
      35 Keene Ct, Charlottesville, VA 22903
      View Details

    Similar Nearby for Lease

    • $1,695 /Mo
      875 SF

      Charlottesville Duplex with Updated Interior

      Move-in ready 2BR/1BA duplex near UVA Medical Center and downtown.
      110 Olinda Dr, Charlottesville, VA 22903
      View Details
    • $17 SF/Yr
      8,004 SF

      Madison Park Executive Office Suite

      Ground-level office, prime location, ample parking.
      501 Faulconer Dr, Charlottesville, VA 22903
      View Details
    • $28 SF/Yr
      5,921 SF

      Omni Hotel Business Center Office

      Office space in the Omni Hotel Business Center.
      212 Ridge Mcintire Rd, Charlottesville, VA 22903
      View Details
    • Contact for pricing
      2,398 SF

      Premier Charlottesville Retail Destination

      Established shopping center with national and local retailers.
      2114-2162 Barracks Rd, Charlottesville, VA 22903
      View Details
    • Contact for pricing
      520 SF

      Downtown Charlottesville Office Space

      Upscale Office, 520 sq ft, West Main
      600 Main St, Charlottesville, VA 22903
      View Details
    • $11,400 /Mo
      1,215 SF

      Ednam Center: Charlottesville Offices

      Flexible Office Spaces in Charlottesville, VA
      1010 Ednam Ctr, Charlottesville, VA 22903
      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.
    1021 Wertland St
    Charlottesville, VA 22903-2876
    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.