Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    512 Ridge St Charlottesville, VA 22902
    Back to Search
    Property profile & analytics

    512 Ridge St, Charlottesville, VA 22902

    View on Map
    • Commercial real estate
    • 1.00 lot acres
    Off-Market
    Property ID
    US87-1666021
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Relentless Moving Logistics, LLC / Moving Company

    Property Details for 512 Ridge St

    Lot size
    1.00 lot acres
    Property type
    Commercial real estate

    Description

    Exceptional investment opportunity in Charlottesville, VA. This one-acre lot at 512 Ridge Street, zoned R-2, presents significant development potential. Currently featuring an existing over/under duplex, the property offers immediate income potential. The expansive lot allows for future construction, with plans potentially accommodating 13 luxury townhomes or approximately 30 apartments, based on anticipated 2024 zoning changes. Detailed architect plans and site plans are available for review. The property enjoys a highly desirable location, within walking distance of the downtown Charlottesville Mall and minutes from the University of Virginia. Access is convenient via a city street. The asking price is $1,125,000. The lease on the existing duplex expired on July 31, 2021. Ownership is held by Sidney Willis, LLC. Serious inquiries only; property viewings are by appointment only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Albemarle
    State
    Virginia
    Longitude
    -78.4873099
    Latitude
    38.0264669

    Comparable in this City

    • $1,035,000

      Belmont Investment Property with Cottage

      Investment property in Belmont with four units and off-street parking.
      207 Douglas Ave, Charlottesville, VA 22902
      View Details
    • $475,000
      2,000 SF

      Two-Unit Residential Income Property

      Two separate levels offer two-bed and one-bed layouts, with off-street parking and a fully fenced yard.
      511 Stonehenge Ave, Charlottesville, VA 22902
      View Details
    • $1,325,000

      Altamont Circle Investment Opportunity

      Three apartments near Charlottesville's Historic Downtown Pedestrian Mall.
      403 Altamont Cir, Charlottesville, VA 22902
      View Details
    • $775,000

      Charlottesville Triplex Investment Opportunity

      Rare triplex near downtown Charlottesville with strong appreciation history.
      402 13Th St, Charlottesville, VA 22902
      View Details
    • $525,000
      2,016 SF

      Remodeled Duplex with Fenced Yard

      Two separate residences with remodeled downstairs unit, central A/C, separate metering, and a large fenced back yard.
      1642 Meridian St, Charlottesville, VA 22902
      View Details

    Similar Nearby for Sale

    • $1,325,000

      Altamont Circle Investment Opportunity

      Three apartments near Charlottesville's Historic Downtown Pedestrian Mall.
      403 Altamont Cir, Charlottesville, VA 22902
      View Details
    • $775,000

      Charlottesville Triplex Investment Opportunity

      Rare triplex near downtown Charlottesville with strong appreciation history.
      402 13Th St, Charlottesville, VA 22902
      View Details
    • $525,000
      2,016 SF

      Remodeled Duplex with Fenced Yard

      Two separate residences with remodeled downstairs unit, central A/C, separate metering, and a large fenced back yard.
      1642 Meridian St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      1,131 SF

      Charming Condo Near Downtown Mall

      3-bedroom condo or commercial space near Charlottesville's Historic Downtown.
      619 E High St, Charlottesville, VA 22902
      View Details
    • $1,035,000

      Belmont Investment Property with Cottage

      Investment property in Belmont with four units and off-street parking.
      207 Douglas Ave, Charlottesville, VA 22902
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,025 SF

      Charlottesville Office Space For Lease

      4,025 SF office space available for lease.
      401-407 E Water St, Charlottesville, VA 22902
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office space near Historic Downtown Mall.
      310 4Th St NE, Charlottesville, VA 22902
      View Details
    • $23 SF/Yr
      10,000 SF

      Executive Suites, Charlottesville

      Downtown Charlottesville office space available
      401 Market St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      5,921 SF

      Omni Hotel Business Center Office

      Office space in the Omni Hotel Business Center.
      212 Ridge Mcintire Rd, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      5,000 SF

      Downtown Charlottesville Office Space Available

      Premier office space near the Historic Downtown Mall.
      300 Preston Ave, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      1,700 SF

      Office Space with Natural Light

      Office space for rent featuring ample natural light.
      126 Garrett St, Charlottesville, VA 22902
      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.
    512 Ridge St
    Charlottesville, VA 22902
    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

    Thank You for Inquiry
    512 Ridge St, Charlottesville, VA, 22902
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!