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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Office buildings
198 Spotnap Rd Charlottesville, VA 22911-8614
Trust Owned
6-yr Hold
~
Est. High Equity
Property ID
US87-0886610
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
3,183 SF
Lot
0.93 ac (40,511 SF)
Zoning code
HIGHWAY COMMERCIAL
APN
07800-00-00-015C4
UPID
US87-0886610
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
-
Weber Lewis Physician Medical Clinic
-
Jan-Pro of Charlottesville Commercial Cleaning Service Carpet Cleaning Service
-
Eddy Family Chiropractic Alternative Medicine Practice
-
AT Home Care Staffing Home Health Care Service Hospice
-
Brian Lambert Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$593k
Blend (final)
Blend
$620k
Owner & transaction history
Hurt,charles W Trust · 6 yrs held
Hurt,charles W Trust
since 2019
5 recorded transactions
Zoning & alternative use
HIGHWAY COMMERCIAL · Charlottesville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$840,000
+0.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$835,000
Current use
RETAIL STORES
$840,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$620k
Range $558k – $682k · ±10%
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
$195 / 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
$1,628,600
Assessed 2024
Previous assessed
$1,930,800
-15.7% YoY
Assessed land
$737,300
Assessed improvement
$891,300
Land market value
$737,300
Improvement market value
$891,300
Total market value
$1,628,600
Applied tax rate
3.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1989
Heating
HEAT PUMP
Buildings
2
Stories
2
Total area
3,183 SF
Lot
0.93 ac (40,511 SF)
Zoning code
HIGHWAY COMMERCIAL
APN
07800-00-00-015C4
UPID
US87-0886610
Jurisdiction
ALBEMARLE
Zoning & alternative use
HIGHWAY COMMERCIAL · Charlottesville, VA
Zoning HIGHWAY COMMERCIAL · permitted uses
HIGHWAY COMMERCIAL · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$835,000
RETAIL STORES
Est. value
$840,000
OFFICE BUILDING Current
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Heating
HEAT PUMP
Stories
2
Buildings
2
Lot
0.93 ac
Current owner
From public records · entity-resolved
Hurt,charles W Trust
Trust
Mailing address
195 RIVERBEND DR STE #1, CHARLOTTESVILLE, VA 22911-8708
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2019
—
Hurt,charles W Trust
Charles W Hurt
Quit Claim Deed
related
$7,205,000 · Atlantic Union Bk
Jul 31, 2014
—
Albemarle Land LLC
—
Grant Deed
related
$3,750,000 · Carter Bk&tr
Jul 2, 2014
—
Albemarle Land Office Build Trust
Virginia Land Trust
Quit Claim Deed
related
—
Jan 2, 2013
—
Wright Property LLC
—
Deed Of Trust
related
$3,750,000 · Virginia Community Bank
Dec 5, 2008
—
Virginia Land Trust
—
Deed Of Trust
related
$1,230,000 · Provident Bank INC
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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