Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5514 Grafton Place Charlotte, NC 28212

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,300,000

    Two vacant lots and a charming house totaling 0.981 acres.

    Type:Retail
    Lot size:
    0.98 Acres
    Added:
    Jan 8, 2025
    Days on Market:
    469
    Last Refresh:
    Apr 1 at 8:45 pm

    Property Features for 5514 Grafton Place

    General Information

    Standard status
    Active
    Lot size
    0.98 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    Judy Godwin

    Listing agent Judy Godwin

    Listing office J Godwin Realty

    Listing date Jan 8, 2025

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of J Godwin Realty

    Overview

    Vacant Lots and Charming House

    The property consists of two vacant lots facing Albemarle Road and a house located at 5514 Grafton Place, Charlotte, NC 28212. The total acreage is 0.981. The vacant lots are zoned R17MF. The house, built in 1952 and moved to the lot in the 1960s, features handmade elements. The house lot has city water, city sewer, and natural gas. The City of Charlotte should be contacted regarding the availability of these utilities for the vacant lots, as tap fees have not been paid for them. The property may be suitable for apartments or business purposes with rezoning of the house lot. This location is described as excellent for a business or project.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7555324
    Latitude
    35.2026073

    Nearby Similar for Sale

    • $890,000

      Commercial Land on Albemarle Road

      3.12-acre commercial land parcel in East Charlotte.
      8705 Albemarle Road, Charlotte, NC 28227
      View Details
    • $525,000

      Commercial Opportunity Near Uptown Charlotte

      Commercial property near Uptown Charlotte with flexible-use rooms and ample parking.
      738 Pierson Drive, Charlotte, NC 28205
      View Details
    • $579,000

      South Charlotte Office/Warehouse Space

      End-unit office/warehouse near HWY-77 & HWY-485 interchange.
      362 Crompton Street, Charlotte, NC 28273
      View Details
    • $249,900

      Pad-Ready Development Opportunity in Charlotte

      Approved, platted, and pad-ready 3-unit development opportunity in East Charlotte.
      4614, 4618, 4622 Dogwood Place, Charlotte, NC 28215
      View Details
    • $450,000

      Retail Property on Busy Corner

      Two properties on a busy corner lot intersection.
      1836 Oakdale Road, Charlotte, NC 28216
      View Details
    • $100,000

      Wooded Land Near Concord Mills

      2.567-acre wooded parcel near Concord Mills with income-producing billboard.
      Old Holland Road, Charlotte, NC 28262
      View Details
    • $700,000

      Classic Duplex in Historic Elizabeth

      Charming Charlotte duplex: income potential in a desirable location.
      2530 E 7th Street, Charlotte, NC 28204
      View Details
    • $249,900

      Pad-Ready Land in East Charlotte

      Approved land for 3-unit development in a growth corridor.
      4602, 4606, 4610 Dogwood Place, Charlotte, NC 28215
      View Details
    • $397,000

      Renovated Duplex in Park Plaza

      Two renovated units near recreation, shopping, and dining.
      5001 5003 Lakecrest Drive, Charlotte, NC 28215
      View Details
    • $850,000

      Prime Land in Charlotte, NC

      3-acre land parcel in a dynamic development zone.
      1812, 1820 Mclean Road, Charlotte, NC 28213
      View Details
    • $738,000

      Two Income Properties Near UNCC

      Two income-producing properties in Charlotte's University area near UNCC.
      9524 & 9525 Robert Burns Court, Charlotte, NC 28213
      View Details
    • $349,900

      Acre Lot Multifamily Opportunity

      Multifamily property on a large lot backing Ribbonwalk Park.
      4019 Durham Lane, Charlotte, NC 28269
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two vacant lots and a charming house totaling 0.981 acres.
    Where is this commercial land located?
    The property is located at 5514 Grafton Place Charlotte, NC.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Large .981 acre lot with house and two vacant lots facing Albemarle Road.; Zoned R17MF, suitable for apartments or business with rezoning.; House has city water, city sewer, and natural gas.
    (704) 438-3403
    We can help!
    Listing Contact
    Judy Godwin
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!