Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1652 State Farm Blvd Charlottesville, VA 22911
    Back to Search
    Property profile & analytics

    1652 State Farm Blvd Charlottesville, VA 22911

    View on Map
    • Medical Office Space
    • 3,339 SF
    • 0.97 lot acres
    Off-Market
    Property ID
    US87-0766332
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Truist / Bank / Loan Service
    • BB&T Mortgage / Loan Service / Bank

    Property Details for 1652 State Farm Blvd

    Year built
    1980
    Lot size
    0.97 lot acres
    Property size
    3,339 SF
    Property type
    Medical Office Space

    Description

    This exceptional 3,339-square-foot office building, located at 1652 State Farm Blvd in Charlottesville, Virginia, presents a unique leasing opportunity. Situated on a 0.97-acre lot, this single-story, Class B building was constructed in 1980 and offers ample parking with 24 spaces. The property is zoned PD-MX (Planned Development Mixed Commercial) within Albemarle County, allowing for versatile usage. Currently vacant, the entire 3,339 square feet is available for lease. The building's previous use as a bank branch provides a well-designed layout adaptable to various office needs, including medical practices. Its convenient location in the Pantops area offers high visibility and proximity to popular businesses such as Starbucks and Giant Food. The property features no elevators, but its single-story design ensures easy accessibility. Annual property taxes are $3.75 per square foot. This is an ideal location for businesses seeking a prominent presence in a thriving Charlottesville commercial district. The property's size and location make it a highly attractive option for a variety of businesses. The ample parking and convenient access to major roadways further enhance its appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.44232136
    Latitude
    38.02760212

    Comparable in this City

    • $1.00 SF/Yr
      7,332 SF

      Charlottesville Stand Alone Building

      Prime building on two acres near I-64 in Charlottesville.
      1791 Richmond Rd, Charlottesville, VA 22911
      View Details
    • $1.00 SF/Yr

      Prime Building Near I-64

      Stand-alone building on two acres, minutes from I-64.
      1791 Richmond Rd, Charlottesville, VA 22911
      View Details
    • $26 SF/Yr
      12,000 SF

      Prime Pantops Office Space

      5,850 SF Class A Office Available
      968 Olympia Dr, Charlottesville, VA 22911
      View Details
    • Contact for pricing
      73,997 SF

      Medical Office Space in Charlottesville

      Class A medical space near Sentara Martha Jefferson Hospital.
      590 Peter Jefferson Pkwy, Charlottesville, VA 22911
      View Details
    • Contact for pricing
      10,188 SF

      Turnkey Medical Office Space Available

      Class A medical office with operating room for immediate occupancy.
      630 Peter Jefferson Pkwy, Charlottesville, VA 22911
      View Details
    • $50 SF/Yr
      2,465 SF

      Retail Space with Drive-Thru Lanes

      Retail space with drive-thru lanes at a busy intersection.
      100 Riverbend Dr, Charlottesville, VA 22911
      View Details

    Similar Nearby for Sale

    • $3,300,000
      7,332 SF

      Charlottesville Building on Two Acres

      Stand-alone building on two acres near I-64 in Charlottesville.
      1791 Richmond Rd, Charlottesville, VA 22911
      View Details
    • $549,975
      1,590 SF

      Class A Medical Office Space

      First floor, move-in ready medical office space for sale.
      1405 Rolkin Rd, Charlottesville, VA 22911
      View Details
    • $5,500,000
      20,200 SF

      Multipurpose Building Near University of Virginia

      20,202 SF Class A building on 6.3 acres.
      3926 Seminole Trl, Charlottesville, VA 22911
      View Details
    • Contact for pricing

      Land Near Charlottesville Airport

      Commercial land with utilities available, near Charlottesville Airport.
      1542 Airport Rd, Charlottesville, VA 22911
      View Details
    • Contact for pricing

      Land Near Upcoming Neighborhoods

      Land with visibility near future Brookhill and Holly Hills neighborhoods.
      2891 Seminole Trl, Charlottesville, VA 22911
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      7,332 SF

      Charlottesville Stand Alone Building

      Prime building on two acres near I-64 in Charlottesville.
      1791 Richmond Rd, Charlottesville, VA 22911
      View Details
    • $1.00 SF/Yr

      Prime Building Near I-64

      Stand-alone building on two acres, minutes from I-64.
      1791 Richmond Rd, Charlottesville, VA 22911
      View Details
    • $26 SF/Yr
      12,000 SF

      Prime Pantops Office Space

      5,850 SF Class A Office Available
      968 Olympia Dr, Charlottesville, VA 22911
      View Details
    • Contact for pricing
      73,997 SF

      Medical Office Space in Charlottesville

      Class A medical space near Sentara Martha Jefferson Hospital.
      590 Peter Jefferson Pkwy, Charlottesville, VA 22911
      View Details
    • Contact for pricing
      10,188 SF

      Turnkey Medical Office Space Available

      Class A medical office with operating room for immediate occupancy.
      630 Peter Jefferson Pkwy, Charlottesville, VA 22911
      View Details
    • Contact for pricing

      Pantops Shopping Center Retail Space

      Retail spaces available in grocery-anchored Pantops Shopping Center.
      504 Pantops Ctr, Charlottesville, VA 22911
      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.
    1652 State Farm Blvd
    Charlottesville, VA 22911
    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

    Thank You for Inquiry
    1652 State Farm Blvd, Charlottesville, VA, 22911
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!