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Property profile & analytics
OFF-MARKET
Estimated value
$2,155,000
Office buildings
350 Old Ivy Way Charlottesville, VA 22903-4897
Entity Owned
Free & Clear
Property ID
US87-0948511
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Total area
12,642 SF
Lot
0.75 ac (32,757 SF)
Zoning code
C1 COMMERCIAL
APN
06000-00-00-047B0
UPID
US87-0948511
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
-
Sophie Lin, REALTOR® Real Estate Agency
-
CAROL DAVIS, LONG & FOSTER - CHARLOTTESVILLE Real Estate Agency
-
David Cooke II, Associate Broker - Long & Foster Real Estate Inc Real Estate Agency
-
Sage Title Group Title Company
-
JENNIE VERNON, LONG & FOSTER - OLD IVY Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$2.16M
Owner & transaction history
IVY LLC
IVY LLC
Zoning & alternative use
C1 COMMERCIAL · Charlottesville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Development Code PDF
Top alternative use upside
Retail stores
$3.3M
+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
$3,315,000
Current use
RETAIL STORES
$3,340,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$2.16M
Range $1.94M – $2.37M · ±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
$170 / 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
Tax billed
$18,777
Tax year 2024
Assessed value
$2,198,700
Assessed 2024
Previous assessed
$2,014,400
+9.1% YoY
Effective rate
0.85%
On assessed value
Assessed land
$573,200
Assessed improvement
$1,625,500
Land market value
$573,200
Improvement market value
$1,625,500
Total market value
$2,198,700
Applied tax rate
2.0000
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
2002
Heating
CENTRAL
Stories
3
Total area
12,642 SF
Lot
0.75 ac (32,757 SF)
Zoning code
C1 COMMERCIAL
APN
06000-00-00-047B0
UPID
US87-0948511
Jurisdiction
ALBEMARLE
Zoning & alternative use
C1 COMMERCIAL · Charlottesville, VAZoning C1 COMMERCIAL · permitted uses
C1 COMMERCIAL · Charlottesville, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Development Code PDF
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.3M
RETAIL STORES
Est. value
$3.3M
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
2002
Heating
CENTRAL
Stories
3
Lot
0.75 ac
Current owner
From public records · entity-resolved
IVY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 5606, CHARLOTTESVILLE, VA 22905-5606
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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