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

    1303 Carlton Ave Charlottesville, VA 22902-5887

    • Commercial real estate
    • 4,339 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1490568
    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

    • Auto Trim Design / Auto Parts Store

    Property Details for 1303 Carlton Ave

    Year built
    1987
    Property size
    4,339 SF
    Zone code
    CX-3
    Property type
    Commercial real estate
    APN
    5600442D0
    APU
    5600442D0

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville City
    State
    Virginia
    Longitude
    -78.4694
    Latitude
    38.0228
    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
    $6,080
    $93,500
    $505,300
    $598,800
    -
    $93,500
    $505,300
    $598,800

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      201-239 Elliott Ave

      Individual retail properties • 1.00 Acre
      201-239 Elliott Ave, Charlottesville, VA 22902
      View Details
    • Value Estimation
      $785,000
      25,200 SF

      1738 Scottsville Rd

      SHOW ROOM, WAREHOUSE • 25,200 SF
      1738 Scottsville Rd, Charlottesville, VA 22902-7110
      View Details
    • Value Estimation
      $1,110,000
      24,239 SF

      218 Water St, Unit C-400

      COMMERCIAL (GENERAL) • 24,239 SF
      218 Water St, Charlottesville, VA 22902-5062
      View Details
    • Value Estimation by Request
      7,465 SF

      218 Water St, Unit C-300

      COMMERCIAL (GENERAL) • 7,465 SF
      218 Water St, Charlottesville, VA 22902-5062
      View Details
    • Value Estimation by Request
      4,350 SF

      200 Garrett St Ste O

      COMMERCIAL (GENERAL) • 4,350 SF
      200 Garrett St Ste O, Charlottesville, VA 22902-5662
      View Details
    • Value Estimation by Request
      3,236 SF

      250 Main St, Unit 103

      COMMERCIAL (GENERAL) • 3,236 SF
      250 Main St, Charlottesville, VA 22902-5079
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      Charlottesville City Center Land

      10.75 Acres, Mixed-Use Potential
      201-239 Elliott Ave, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      6,768 SF

      Spacious Office Suite on Market

      Large office suite with open floor plan and full kitchen.
      401 E Market St, Charlottesville, VA 22902
      View Details
    • $425,000

      Industrial Lot in Woolen Mills

      0.444 acre lot in Woolen Mills district.
      2004 Pireus Row, 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
    • Contact for pricing

      Charlottesville Development Site For Sale

      Development site in Charlottesville, VA, suitable for residential use.
      206 11Th St NE, Charlottesville, VA 22902
      View Details
    • $525,000

      Charlottesville Specialty Property For Sale

      Specialty property available for purchase in Charlottesville, Virginia.
      50 Stone Mill Ct, Charlottesville, VA 22902
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      10,000 SF

      Executive Suites, Charlottesville

      Downtown Charlottesville office space available
      401 Market St, Charlottesville, VA 22902
      View Details
    • $26 SF/Yr
      52,748 SF

      Queen Charlotte Square Office Suites

      Executive Office Space in Charlottesville
      214 High St, Charlottesville, VA 22902
      View Details
    • $895,000
      1,440 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
    • $21 SF/Yr
      2,417 SF

      Divisible Office Space Available

      Office space for rent, can be divided or combined.
      204-228 E High St, Charlottesville, VA 22902
      View Details
    • $425 /Mo
      130 SF

      Second Floor Office Space Available

      130 SF office space for rent, utilities included.
      302 Park St, Charlottesville, VA 22902
      View Details
    • $25 SF/Yr
      5,000 SF

      Downtown Charlottesville Office Space Available

      Premier office space near the Historic Downtown Mall.
      300 Preston Ave, 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.
    1303 Carlton Ave
    Charlottesville, VA 22902-5887
    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.