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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Retail properties & Spaces
1581 Rio E Rd Charlottesville, VA 22901-1402
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0778765
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1979
Total area
124,811 SF
Lot
10.13 ac (441,263 SF)
Zoning code
PLANNED DEV. SHP. CNTR.
APN
06100-00-00-13000
UPID
US87-0778765
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Belk (Bike/Boat/Book/etc) Store Clothing & Fashion Store
-
Belk - Women's Store Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
Belk Stores Of Virginia LLC · 1 yrs held
Belk Stores Of Virginia LLC
since 2024
7 recorded transactions
Zoning & alternative use
PLANNED DEV. SHP. CNTR. · Charlottesville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Charlottesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlottesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$15 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$78,924
Tax year 2024
Assessed value
$9,241,700
Assessed 2024
Previous assessed
$8,859,800
+4.3% YoY
Effective rate
0.85%
On assessed value
Assessed land
$5,718,800
Assessed improvement
$3,522,900
Land market value
$5,718,800
Improvement market value
$3,522,900
Total market value
$9,241,700
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1979
Heating
CENTRAL
Stories
1
Total area
124,811 SF
Lot
10.13 ac (441,263 SF)
Zoning code
PLANNED DEV. SHP. CNTR.
APN
06100-00-00-13000
UPID
US87-0778765
Jurisdiction
ALBEMARLE
Zoning & alternative use
PLANNED DEV. SHP. CNTR. · Charlottesville, VA
Zoning PLANNED DEV. SHP. CNTR. · permitted uses
PLANNED DEV. SHP. CNTR. · Charlottesville, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlottesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1979
Heating
CENTRAL
Stories
1
Lot
10.13 ac
Current owner
From public records · entity-resolved
Belk Stores Of Virginia LLC
Entity
Mailing address
2801 W TYVOLA RD, CHARLOTTE, NC 28217-4525
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2024
—
Belk Stores Of Virginia LLC
—
Deed
related
$100,000 · Sixth Street Lending Partners
Jun 7, 2021
—
Belk Stores Of Virginia LLC
—
Deed
related
$110,000,000 · Wilmington Trust NA
Jun 29, 2020
—
Belk Stores Of Virginia LLC
—
Deed
related
—
May 25, 2016
—
Belk Stores Of Virginia LLC
—
Deed
related
$900,000,000 · Bank Of America
—
—
Belk Stores Of Virginia LLC
—
Deed Of Trust
related
$900,000,000 · Bank Of America
—
—
Belk Stores Of Va LLC
—
Loan Modification
related
—
—
—
Belk Stores Of Virginia LLC
—
Deed Of Trust
related
$1,500,000,000 · Morgan Stanley SR Fndg
—
—
Belk Stores Of Virginia LLC
—
Deed Of Trust
related
$550,000,000 · * Other Institutional Lenders
—
—
Belk Stores Of Virginia LLC
—
Loan Modification
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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