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    Modern Condo Near Park Road Title is generated by Realmo AI

    1300 Reece Road, Charlotte, NC 28209

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    For Sale
    $295,000

    MULTI_FAMILY - Modern - Charlotte, NC

    Property size:
    1,220 SF
    Price / SF:
    $241/SF
    Added:
    Feb 20, 2026
    Days on Market:
    86
    Last Refresh:
    May 17 at 11:06 pm

    Property Features for 1300 Reece Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
    Parking features
    Assigned, Parking Lot, Carport
    Pool private
    1
    Appliances
    Microwave, Oven, Refrigerator
    Standard status
    Active
    APN
    175-181-02
    Size
    1,220 SF

    Taxes and HOA fees

    Tax Description
    L76-111-M3-124 & STR

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Electric

    Building Details

    Year built
    1965
    Building materials
    Brick Full
    Architectural style
    Modern

    We can help!

    Listing Contact
    Miller O'Boyle

    Listing agent Miller O'Boyle

    Listing office Coldwell Banker Realty 3440 Toringdon Way, Suite 110, Statesville, NC

    Listing date Feb 20, 2026

    MLS# 4334424 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • HOA covers property taxes, internet, cable, water, and trash.
    • Prime location steps from Park Road Shopping Center.
    • Open floor plan designed for comfortable living and entertaining.
    • Includes a covered parking space.
    • Access to Little Sugar Creek Greenway for scenic routes to Freedom Park.
    • Well‑maintained mid‑century modern building with timeless character.

    Overview

    This unit features a bright, open floor plan suitable for both comfortable living and entertaining. Located in The Kimberlee, residents benefit from a carefree lifestyle, with the HOA covering property taxes, internet, cable, water, trash, and a covered parking space. The building is situated steps from Park Road Shopping Center, offering immediate access to restaurants, cafes, boutiques, and entertainment. The location also provides access to the Little Sugar Creek Greenway for routes to Freedom Park and other destinations. The property is located in Charlotte, NC, within the 28209 postal code area, and is part of Mecklenburg County. The property size is 1220 square feet.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $164.0K
    NOI $14,762 @ 9.00% cap · cautious / downside scenario
    Moderate
    $210.9K
    NOI $14,762 @ 7.00% cap · market / base-case scenario
    Aggressive
    $295.2K
    NOI $14,762 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $28.4k $23.28
    − Vacancy −$1.6k −$1.28
    EGI $26.8k $22.00
    − OpEx −$12.1k −$9.90
    NOI $14.8k $12.10
    1,220 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $210.9K
    $184.5K – $246.0K (±1% cap)
    NOI $14,762 @ 7.0% cap · market cap 5.00%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $406.3K
    $355.5K – $474.0K (±1% cap)
    NOI $28,438 @ 7.0% cap · market cap 9.64%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Kimberlee, Inc. Housing Cooperative Rite Aid Photo (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.848183
    Latitude
    35.175581

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    FAQs

    What type of property is this?
    Residential income property - Condo with open floor plan near shopping and greenway.
    Where is this residential income property located?
    The property is located at 1300 Reece Road Charlotte, NC.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: HOA covers property taxes, internet, cable, water, and trash.; Prime location steps from Park Road Shopping Center.; Open floor plan designed for comfortable living and entertaining.
    (704) 607-9634
    We can help!
    Listing Contact
    Miller O'Boyle
    Learn More
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    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
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