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

    405 Premier Cir Charlottesville, VA 22901-1724

    • Motels
    • 39,936 SF
    • 3.75 lot acres
    OFF-MARKET
    Last Sale
    Mar 15, 2021
    $4,300,000
    Value Estimations
    $4,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1158285
    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

    • Motels

    Property Details for 405 Premier Cir

    Year built
    1987
    Lot size
    3.75 lot acres
    Property size
    39,936 SF
    Zone code
    C1 COMMERCIAL
    Property type
    Motels
    APN
    061M0-00-00-00600
    APU
    061M0000000600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,540,000
      ML approach
      $3,910,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,940,000
      MEDICAL BUILDING
      $4,555,000
      AUTO REPAIR, GARAGE
      $3,790,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.4832
    Latitude
    38.073
    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
    $0.00
    $3,657,100
    $1,000
    $3,658,100
    -
    $3,657,100
    $1,000
    $3,658,100

    Comparable in this City

    • Value Estimation
      $680,000
      28,392 SF

      1803 Emmet N St

      MOTEL • 28,392 SF
      1803 Emmet N St, Charlottesville, VA 22901-2812
      View Details
    • Value Estimation
      $725,000
      24,948 SF

      2011 Holiday Dr

      MOTEL • 24,948 SF
      2011 Holiday Dr, Charlottesville, VA 22901-2816
      View Details
    • Value Estimation by Request
      15,998 SF

      2014 Holiday Dr

      MOTEL • 15,998 SF
      2014 Holiday Dr, Charlottesville, VA 22901-2817
      View Details
    • Value Estimation
      $720,000
      79,058 SF

      638 Hillsdale Dr

      HOTEL • 79,058 SF
      638 Hillsdale Dr, Charlottesville, VA 22901-1715
      View Details
    • Value Estimation
      $1,020,000
      177,443 SF

      990 Hilton Hts Rd

      HOTEL • 177,443 SF
      990 Hilton Hts Rd, Charlottesville, VA 22901-8393
      View Details
    • Value Estimation by Request
      13,216 SF

      1610 Emmet N St

      HOTEL • 13,216 SF
      1610 Emmet N St, Charlottesville, VA 22901-2809
      View Details

    Similar Nearby for Sale

    • $2,700,000
      11,783 SF

      Commercial Building with Long-Term Leases

      Commercial building with long-term leases on Seminole Trail.
      490 Westfield Rd, Charlottesville, VA 22901
      View Details
    • $199,000

      Renovated Condo Near Shopping Center

      Spacious, renovated 2BR/1BA condo with new features and convenient location.
      2517 Hydraulic Rd, Charlottesville, VA 22901
      View Details
    • $7,560,000
      2.54 Acres

      Charlottesville Development Parcel Near Retail

      2.54 acre commercial land parcel near major retailers.
      India Rd, Charlottesville, VA 22901
      View Details
    • $275,000

      Charlottesville Land For Sale

      Land available in Charlottesville, Virginia for $275,000.
      2223 Woodburn Rd, Charlottesville, VA 22901
      View Details
    • $285,000

      Branchlands Retirement Village Home

      One-level living in desirable Branchlands retirement village.
      1422 Lilac Ct, Charlottesville, VA 22901
      View Details
    • Contact for pricing

      Charlottesville Fashion Square Redevelopment Opportunity

      Redevelopment opportunity in Charlottesville Fashion Square on Rio Rd.
      1600 Rio Rd E, Charlottesville, VA 22901
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      200,000 SF

      Brookhill Town Center: Prime Retail/Office Space

      Charlottesville, VA: 200,000 SF Available Now
      0 Us-29, Charlottesville, VA 22901
      View Details
    • $12 SF/Yr
      69,000 SF

      Hydraulic Road Office Space

      Charlottesville, VA Office Suites Available
      2211 Hydraulic Rd, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      1,246 SF

      Conveniently Located Townhouse for Rent

      Townhouse with two bedrooms, convenient location, and designated parking.
      1640 Townwood Ct, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      14,980 SF

      Executive Suites at Barry Building

      Prime location, ample parking, 14,980 sqft.
      2013 Woodbrook Ct, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      11,356 SF

      Renovated Office Space Near UVA

      Conveniently located office space with recent renovations and ample parking.
      2211 Hydraulic Rd, Charlottesville, VA 22901
      View Details
    • Contact for pricing
      8,000 SF

      Office Space Available For Rent

      Office space with conference room, kitchen, and ample parking.
      375 Greenbrier 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.
    405 Premier Cir
    Charlottesville, VA 22901-1724
    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!