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    Property profile & analytics

    1909 Milton Rd Charlotte, NC 28215-2478

    • Turn key restaurants
    • 1,878 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    May 12, 2021
    $869,000
    Value Estimations
    $970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0737448
    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.

    Current Use by Public Records

    • Wing Street / Takeout Restaurant / Pizza Restaurant
    • Pizza Hut / Pizza Restaurant / Pizza Delivery

    Property Details for 1909 Milton Rd

    Year built
    1974
    Lot size
    0.43 lot acres
    Property size
    1,878 SF
    Zone code
    B-1
    Property type
    Turn key restaurants
    APN
    10701109
    APU
    10701109

    Description

    This exceptional 1,878 square foot restaurant building, located at 1909 Milton Road in Charlotte, North Carolina, presents a unique investment opportunity. Situated on a 0.429-acre lot, the property boasts 25 parking spaces, a significant advantage in a high-traffic area. The building is currently vacant, offering a blank canvas for a new culinary venture or retail concept. The property is zoned Cg (General Commercial) by the City of Charlotte, allowing for a variety of uses. Its strategic location just off Plaza Road, near a signalized intersection, ensures high visibility and accessibility. An estimated 14,000 vehicles pass by daily on Milton Road, and the property benefits from a strong residential base, with approximately 261,000 residents within a 5-mile radius. The property's APN is 10701109. While previously occupied by a Pizza Hut franchisee (now vacant), the property is currently generating rental income. The asking price for this prime commercial property is $950,000. This presents a compelling opportunity for investors seeking a high-traffic, well-located property in a thriving Charlotte neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $1,020,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $855,000
      6.5%
      $840,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $890,000
      Geo Method
      $835,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $730,000
      Retail
      $675,000
      Mixed-Use
      $830,000
      Hospitality
      $705,000
      Educational
      $735,000
      Residential Income
      $735,000
      Energy
      $800,000
      Income-Based Land
      $770,000
      Food Service
      $895,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.752
    Latitude
    35.2465
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC 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
    $5,982
    $538,600
    $277,000
    $815,600
    -
    $538,600
    $277,000
    $815,600

    Comparable in this City

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    • Value Estimation
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      1,695 SF

      10910 Woodland Beaver Rd

      RESTAURANT • 1,695 SF
      10910 Woodland Beaver Rd, Charlotte, NC 28215
      View Details
    • Value Estimation
      $340,000
      2,025 SF

      1910 Milton Rd

      RESTAURANT • 2,025 SF
      1910 Milton Rd, Charlotte, NC 28215-2440
      View Details
    • Value Estimation by Request
      987 SF

      5715 Sharon Amity Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 987 SF
      5715 Sharon Amity Rd, Charlotte, NC 28215-3984
      View Details
    • Value Estimation
      $270,000
      2,518 SF

      Charlotte, NC 28215

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,518 SF
      Charlotte, NC 28215
      View Details

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    1909 Milton Rd
    Charlotte, NC 28215-2478
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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.

    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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