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Property profile & analytics
OFF-MARKET
Office buildings
503 Faulconer Dr Ste 5a Charlottesville, VA 22903-4978
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0689288
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Total area
603 SF
Lot
0.06 ac (2,614 SF)
Zoning code
COMMERCIAL OFFICE
APN
076C0-03-00-005A0
UPID
US87-0689288
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
-
Commonwealth Legal Services, Inc. Law Firm
-
Charlottesville Country Properties at Wiley Real Estate Real Estate Agency
-
Matthias John Realty Real Estate Agency
-
MIDDLEDITCH REALTY Real Estate Agency
-
MARK MASCOTTE, MCLEAN FAULCONER INC., REALTOR Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Madison Park LLC · 2 yrs held
Madison Park LLC
since 2024
1 recorded transaction
Zoning & alternative use
COMMERCIAL OFFICE · Charlottesville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Assessed value
$145,000
Assessed 2024
Previous assessed
$145,000
+0.0% YoY
Assessed land
$28,700
Assessed improvement
$116,300
Land market value
$28,700
Improvement market value
$116,300
Total market value
$145,000
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
1983
Heating
HEAT PUMP
Stories
1
Total area
603 SF
Lot
0.06 ac (2,614 SF)
Zoning code
COMMERCIAL OFFICE
APN
076C0-03-00-005A0
UPID
US87-0689288
Jurisdiction
ALBEMARLE
Zoning & alternative use
COMMERCIAL OFFICE · Charlottesville, VA
Zoning COMMERCIAL OFFICE · permitted uses
COMMERCIAL OFFICE · 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.
Building & site characteristics
From public records
Year built
1983
Heating
HEAT PUMP
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Madison Park LLC
Entity
Free & Clear · 2 yrs held
Mailing address
505 FAULCONER DR STE 2B, CHARLOTTESVILLE, VA 22903-4981
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2024
—
Madison Park LLC
David W Kudravetz
Deed
—
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.
Try Rey
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