Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    605 Main St Charlottesville, VA 22902-5337
    Back to Search
    Property profile & analytics

    605 Main St Charlottesville, VA 22902-5337

    View on Map
    • Office properties & Spaces
    • 75,760 SF
    • 1.15 lot acres
    Off-Market
    Property ID
    US87-2378922
    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
    $4,855,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Charlottesville Revenue Comm / City Tax Office
    • Charlottesville City Assessor / City Tax Office
    • Charlottesville State Income / City Government Office
    • Brown Craig / City Government Office
    • Charlottesville City Govt Info / City Government Office

    Property Details for 605 Main St

    Year built
    1967
    Lot size
    1.15 lot acres
    Property size
    75,760 SF
    Zone code
    CV
    Property type
    Office properties & Spaces
    APN
    530080000
    APU
    530080000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,890,000
      Current use
      AUTO REPAIR, GARAGE
      $7,145,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlottesville
    County
    Charlottesville City
    State
    Virginia
    Longitude
    -78.4773
    Latitude
    38.0299
    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
    $0.00
    $7,990,000
    $17,389,800
    $25,379,800
    -
    $7,990,000
    $17,389,800
    $25,379,800

    Comparable in this City

    • Value Estimation by Request
      24,000 SF

      117 4Th St

      Coworking space • 24,000 SF
      117 4Th St, Charlottesville, VA 22902
      View Details
    • Value Estimation by Request
      2,789 SF

      814 High St

      OFFICE (GENERAL) • 2,789 SF
      814 High St, Charlottesville, VA 22902-5197
      View Details
    • Value Estimation by Request
      5,371 SF

      806 High St

      OFFICE (GENERAL) • 5,371 SF
      806 High St, Charlottesville, VA 22902-5126
      View Details
    • Value Estimation
      $10,235,000
      222,253 SF

      323 2nd SE St

      OFFICE (GENERAL) • 222,253 SF
      323 2nd SE St, Charlottesville, VA 22902-5605
      View Details
    • Value Estimation by Request
      3,276 SF

      114 3rd NE St

      OFFICE (GENERAL) • 3,276 SF
      114 3rd NE St, Charlottesville, VA 22902-5224
      View Details
    • Value Estimation
      $3,100,000
      42,336 SF

      120 7th NE St

      OFFICE (GENERAL) • 42,336 SF
      120 7th NE St, Charlottesville, VA 22902-5392
      View Details

    Similar Nearby for Sale

    • $949,500
      4,399 SF

      Downtown Charlottesville Executive Office

      Prime location, 4,399 sq ft, vacant.
      200 Water St, Charlottesville, VA 22902
      View Details
    • $874,900
      1,440 SF

      Downtown Charlottesville Office Space Available

      Office space for rent in Charlottesville's Central Business District.
      412 E Jefferson St, Charlottesville, VA 22902
      View Details
    • $1,395,000
      4,761 SF

      Divisible Office Space Available

      Office space for rent, can be divided or combined.
      214-214 E High St, Charlottesville, VA 22902
      View Details
    • $490,000
      2,345 SF

      Downtown Office Investment Opportunity

      Commercial office property suitable for investors or owner-occupiers.
      1001 E Market St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      12,315 SF

      Class A Office Space

      Prime office space with mountain views and convenient parking.
      216-218 W Water St, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      11,920 SF

      Charlottesville Office Building For Sale

      28,500 SF office building available in Charlottesville, Virginia.
      316-318 E Main St, Charlottesville, VA 22902
      View Details

    Similar Nearby for Lease

    • $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

      Downtown Charlottesville Office Space Available

      Office spaces available in downtown Charlottesville with parking and signage.
      1215 E Market St, Charlottesville, VA 22902
      View Details
    • Contact for pricing

      Downtown Charlottesville Office Space Available

      Office space for rent in historic downtown Charlottesville.
      117 4Th St NE, Charlottesville, VA 22902
      View Details
    • Contact for pricing
      3,142 SF

      Historic Furnished Office Space

      Furnished Class A office space near Historic Downtown Mall.
      425 7Th St NE, Charlottesville, VA 22902
      View Details
    • $3,800 /Mo

      Renovated Historic Downtown Office Space

      Upscale renovated office space in historic downtown Charlottesville building.
      211 NE 5Th St, Charlottesville, VA 22902
      View Details
    • Contact for pricing

      Prime Office Space For Rent

      Office spaces available in prime downtown location.
      600 E Water 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.
    605 Main St
    Charlottesville, VA 22902-5337
    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
    605 Main 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!