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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Office Spaces
2000 Michie Dr Charlottesville, VA 22901-2821
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-1754365
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2000
Total area
10,355 SF
Lot
1.46 ac (63,598 SF)
Zoning code
NX-8
APN
41B004000
UPID
US87-1754365
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
-
Meadowcreek Center Medical Clinic
-
Region Ten 2000 Michie Drive Real Estate Agency
-
Region 10 Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$415k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$741k
Blend (final)
Blend
$580k
Owner & transaction history
REGION TEN COMMUNITY SERVICES BOARD
REGION TEN COMMUNITY SERVICES BOARD
Zoning & alternative use
NX-8 · Charlottesville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$620,000
+15.1%
Restaurant
$545,000
+0.9%
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
$415,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$540,000
Current use
INDUSTRIAL (GENERAL)
$620,000
Change: +15% · Conversion: Moderate
RESTAURANT
$545,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$495,000
Change: -8% · Conversion: Easy
WAREHOUSE, STORAGE
$475,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$56 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$34,105
Tax year 2023
Assessed value
$3,472,200
Assessed 2024
Previous assessed
$3,320,700
+4.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$1,893,100
Assessed improvement
$1,579,100
Land market value
$1,893,100
Improvement market value
$1,579,100
Total market value
$3,472,200
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2000
Heating
YES
Cooling
YES
Stories
1
Total area
10,355 SF
Lot
1.46 ac (63,598 SF)
Zoning code
NX-8
APN
41B004000
UPID
US87-1754365
Jurisdiction
CHARLOTTESVILLE CITY
Zoning & alternative use
NX-8 · Charlottesville, VA
Zoning NX-8 · permitted uses
NX-8 · 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
COMMERCIAL (GENERAL) Current
Est. value
$540,000
INDUSTRIAL (GENERAL)
Est. value
$620,000
RESTAURANT
Est. value
$545,000
RETAIL STORES
Est. value
$495,000
WAREHOUSE, STORAGE
Est. value
$475,000
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
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
2000
Heating
YES
Cooling
Yes
Stories
1
Lot
1.46 ac
Current owner
From public records · entity-resolved
REGION TEN COMMUNITY SERVICES BOARD
Individual
Free & Clear · 0 yrs held
Mailing address
502 OLD LYNCHBURG RD, CHARLOTTESVILLE, VA 22903-6550
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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