406 Main St Charlottesville, VA 22902-5236
Property profile & analytics
406 Main St Charlottesville, VA 22902-5236
- Office properties & Spaces
- 7,638 SF
- 0.06 lot acres
Property ID
US87-1494590
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.
Location Intelligence
Current Use by Public Records
- Tilman's / Restaurant
- Simins Custom Sewing / (Bike/Boat/Book/etc) Store
- Bliss Massage / Alternative Medicine Practice / Spa & Massage Center
Property Details for 406 Main St
- Year built
- 1920
- Lot size
- 0.06 lot acres
- Property size
- 7,638 SF
- Zone code
- DX
- Property type
- Office properties & Spaces
- APN
- 280047000
- APU
- 280047000
Description
This exceptional investment opportunity comprises three prime infill parcels totaling approximately 0.7 acres on West Main Street in Charlottesville, Virginia. Currently generating $10,000 per month in rental income with a lease expiring August 31, 2027 (approximately 2.8 years remaining), this property presents significant redevelopment potential. The parcels are zoned CX-5, allowing for five stories by right, with potential for up to seven stories with bonuses for including affordable housing units. Importantly, there are no density restrictions. The combined parcels offer a unique opportunity for multi-family or mixed-use development in a highly desirable location. The property's proximity to the University of Virginia and the historic Downtown Mall ensures strong demand and high occupancy rates. Preliminary discussions with the city regarding the potential abandonment of the 4th Street extension have already occurred, which could further enhance the development potential by connecting all three parcels. The asking price for this exceptional development opportunity is $4,200,000. This is a rare chance to acquire a substantial, income-producing property in a thriving urban core with significant upside potential. The addresses included are 406 W Main St, 408 W Main St, and 332 W Main St, all in Charlottesville, VA 22903.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Charlottesville
- County
- Charlottesville City
- State
- Virginia
- Longitude
- -78.4791
- Latitude
- 38.0297
- 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
2023
$13,589
$644,300
$739,500
$1,383,800
-
$644,300
$739,500
$1,383,800
