Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3317 Berkmar Dr Charlottesville, VA 22901-1491

    • Office buildings
    • 3,259 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Jul 29, 2022
    $700,000
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1092745
    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.

    Current Use by Public Records

    • Anew Salon / Hair Salon / Nail Salon
    • Ricoh USA Inc / (Bike/Boat/Book/etc) Store / Corporate Office
    • Bovenizer Suzanne / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 3317 Berkmar Dr

    Year built
    2008
    Lot size
    0.37 lot acres
    Property size
    3,259 SF
    Zone code
    C1 COMMERCIAL
    Property type
    Office buildings
    APN
    04500-00-00-109C3
    APU
    045000000109C3

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $675,000
      ML approach
      $735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $741,000
      Market price range: $549k - $1.03M
      AI Estimate
      $483,000
      Market price range: $268k - $718k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $745,000
      Current use
      RETAIL STORES
      $860,000
      Change: +16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.4736
    Latitude
    38.0919
    CBSA code
    16820
    CBSA name
    CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,181
    $385,000
    $338,800
    $723,800
    -
    $385,000
    $338,800
    $723,800

    Comparable in this City

    • Value Estimation
      $1,550,000
      10,696 SF

      550 Hillsdale Dr

      OFFICE BUILDING • 10,696 SF
      550 Hillsdale Dr, Charlottesville, VA 22901-5700
      View Details
    • Value Estimation
      $1,475,000
      15,867 SF

      481 Hillsdale Dr

      OFFICE BUILDING • 15,867 SF
      481 Hillsdale Dr, Charlottesville, VA 22901-5732
      View Details
    • Value Estimation by Request
      1,680 SF

      1525 Putt Putt Pl

      OFFICE BUILDING • 1,680 SF
      1525 Putt Putt Pl, Charlottesville, VA 22901-1473
      View Details
    • Value Estimation
      $785,000
      5,468 SF

      2360 Commonwealth Dr

      OFFICE BUILDING • 5,468 SF
      2360 Commonwealth Dr, Charlottesville, VA 22901-1622
      View Details
    • Value Estimation by Request
      2,604 SF

      2715 Hydraulic Rd

      OFFICE BUILDING • 2,604 SF
      2715 Hydraulic Rd, Charlottesville, VA 22901-8917
      View Details
    • Value Estimation by Request
      1,961 SF

      887 Rio E Cta

      OFFICE BUILDING • 1,961 SF
      887 Rio E Cta, Charlottesville, VA 22901-8004
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,169 SF

      Custom Office Building Near Route 29

      Custom-built office building with multiple entrances and high ceilings.
      1445 Greenbrier Pl, Charlottesville, VA 22901
      View Details
    • $1,000,000
      300 SF

      Elegant Office Building with Fireplaces

      Spacious office space with fireplaces in a colonial building.
      2305 Commonwealth Dr, Charlottesville, VA 22901
      View Details
    • $759,900
      3,618 SF

      Glenwood Station Office Space

      Charlottesville Office Building, Vacant
      943 Glenwood Station Ln, Charlottesville, VA 22901
      View Details
    • $3,195,000
      15,340 SF

      Bright Office Condo with Windows

      Spacious office condo featuring natural light and hardwood floors.
      1410 Incarnation Dr, Charlottesville, VA 22901
      View Details
    • $407,280
      1,836 SF

      Private Offices with Kitchenette For Rent

      Three adjoining private offices with kitchenette, balcony, and common area.
      944 Glenwood Station Ln, Charlottesville, VA 22901
      View Details
    • $339,000
      1,546 SF

      First Floor End Unit Office

      Office condo with open layout, convenient location, and ample parking.
      670-0 Berkmar Cir, Charlottesville, VA 22901
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,077 SF

      Second Floor Office Space Available

      Office space available above Marks & Harrison, ready for occupancy.
      440 Premier Cir, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      1,760 SF

      Medical/Office Space For Rent

      Office space in JABA building, suitable for medical or office.
      674 Hillsdale Dr, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      2,977 SF

      Class A Office Condo Rental

      Class A office condo with offices, conference room, and balcony.
      941 Glenwood Station Ln, Charlottesville, VA 22901
      View Details
    • $19 SF/Yr
      10,334 SF

      Prime Charlottesville Office Space

      10,344 SF Available, Class A Office
      2211 Hydraulic Rd, Charlottesville, VA 22901
      View Details
    • $1,000 /Mo
      800 SF

      Office Space with Vaulted Ceiling

      Office space featuring open layout, kitchenette, and full bath.
      2350 Commonwealth Dr, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      27,000 SF

      Landmark HQ Office Building for Sale

      27,000 SF Executive Office in Charlottesville, VA
      2000 Holiday Dr, Charlottesville, VA 22901
      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.
    3317 Berkmar Dr
    Charlottesville, VA 22901-1491
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!