501 Faulconer DrCharlottesville, VA 22903

Property Details for 501 Faulconer Dr

Year built

1985

Lot size

0.09 AC

Property size (Sq ft)

1,412 SF

Zone code

COMMERCIAL OFFICE

Property type

Office properties

Property subtype

Office buildings

APN

076C0-05-00-001A0

APU

076C00500001A0

Description

This exceptional 1,412 square foot executive office suite is ideally situated just off Old Ivy Road, offering unparalleled convenience and accessibility. Located in a Class C building constructed in 1985, this single-tenant space boasts a ground-level entry point, ensuring ease of access for all, including those with disabilities. The property sits on a generous 3.01-acre lot and is part of a larger building totaling 8,004 square feet, spread across two stories. Ample on-site parking is available for tenants and their clients. The building's convenient location provides easy access to major thoroughfares, including the 250 Bypass, and is in close proximity to Farmington, St. Anne’s Belfield School, the University of Virginia's Darden School of Business, and the University of Virginia School of Law. The zoning designation is CO. The property features a total of one building and is identified by APN 475849905808. This is a fantastic opportunity for businesses seeking a well-located, accessible, and conveniently sized office space with excellent connectivity to the surrounding area. The net monthly rent is $2,059.

• CAP approach

  CAP return

  Valuation

  6%

  $336,070

  6.5%

  $310,219

  7%

  $288,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $282,315

  Geo Method

  $282,315

• Alternative Use

  Use

  Valuation

  Residential

  $384,671

  Hospitality

  $352,357

  Educational

  $293,157

  Medical

  $303,239

  Retail

  $456,022

Location Insight

City

Charlottesville

County

Albemarle

State

Virginia

Latitude

38.0498

Longitude

-78.5246

CBSA code

16820

CBSA name

CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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