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Property profile & analytics
OFF-MARKET
Estimated value
$4,620,000
Retail properties & Spaces
1639 Rio Rd Ea Charlottesville, VA 22901-1407
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-1261214
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1980
Total area
67,850 SF
Lot
10.17 ac (443,005 SF)
Zoning code
PLANNED UNIT DEVELOPMENT
APN
06100-00-00-12900
UPID
US87-1261214
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
-
Albemarle County Public Safety Operations Center Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.97M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.62M
Owner & transaction history
Fashion Square Assets LLC · 5 yrs held
Fashion Square Assets LLC
since 2020
Last sale
$4.5M
4 recorded transactions
Zoning & alternative use
PLANNED UNIT DEVELOPMENT · 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
Method
Estimation
Statistic approach
$4,525,000
ML approach
$4,965,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.62M
Range $4.16M – $5.08M · ±10% · vs last sale $4.50M (Sep 10 2020)
Last sale anchor
$4.50M
Sep 10 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$68 / 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
Assessed value
$9,405,500
Assessed 2024
Previous assessed
$5,742,300
+63.8% YoY
Assessed land
$5,741,300
Assessed improvement
$3,664,200
Land market value
$5,741,300
Improvement market value
$3,664,200
Total market value
$9,405,500
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
1980
Heating
NONE
Buildings
2
Stories
1
Total area
67,850 SF
Lot
10.17 ac (443,005 SF)
Zoning code
PLANNED UNIT DEVELOPMENT
APN
06100-00-00-12900
UPID
US87-1261214
Jurisdiction
ALBEMARLE
Zoning & alternative use
PLANNED UNIT DEVELOPMENT · Charlottesville, VA
Zoning PLANNED UNIT DEVELOPMENT · permitted uses
PLANNED UNIT DEVELOPMENT · 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
1980
Heating
NONE
Stories
1
Buildings
2
Lot
10.17 ac
Current owner
From public records · entity-resolved
Fashion Square Assets LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1180 SEMINOLE TRL STE #105, CHARLOTTESVILLE, VA 22901-5713
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2020
$4,500,000
Fashion Square Assets LLC
J C Penney Properties LLC
Grant Deed
—
Aug 12, 2016
—
J C Penney Properties INC
—
Deed
related
—
May 28, 2013
—
J C Penney Properties INC
—
Deed Of Trust
related
—
—
—
J C Penney Properties INC
—
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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