Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    6824 Wilgrove Mint Hl Rd Mint Hill, NC 28227-3428

    • Warehouses
    • 13,752 SF
    • 1.86 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2023
    $2,400,000
    Value Estimations
    $2,480,000
    Show details
    Cap Rate Potential
    4%
    Warehouses
    Location Intelligence
    Property ID
    US53-0804588
    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

    • Warehouses

    Property Details for 6824 Wilgrove Mint Hl Rd

    Year built
    1977
    Lot size
    1.86 lot acres
    Property size
    13,752 SF
    Zone code
    B-D
    Property type
    Warehouses
    APN
    13707604
    APU
    13707604

    Description

    This exceptional 13,816 square foot commercial property, located at 6824 Wilgrove Mint Hill Road in Mint Hill, North Carolina (zip code 28227), presents a unique investment opportunity. Classified as a Class B building, it offers a versatile blend of office, flex, and warehouse space, ideal for a variety of businesses. The property features multiple tenancies, with a significant portion currently vacant, totaling 6,809 square feet. This readily available space provides immediate occupancy potential. The layout includes a second-floor office component of 850 square feet, complementing the expansive ground-floor area suitable for warehouse or flex use. The property's location off Albemarle Road offers convenient access to major transportation routes, enhancing its logistical appeal. Situated in Mecklenburg County, this property benefits from a strong local economy and a thriving business community. The diverse space configuration makes it suitable for companies requiring a combination of office, storage, and light industrial operations. With its ample square footage and strategic location, this property represents a compelling opportunity for businesses seeking to establish or expand their operations in the vibrant Mint Hill market. The property's existing infrastructure and flexible layout offer significant potential for customization to meet specific business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,515,000
      ML approach
      $2,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,665,000
      6.5%
      $1,540,000
      7%
      $1,430,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mint Hill
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.6695
    Latitude
    35.2077
    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
    $7,393
    $588,600
    $470,400
    $1,059,000
    -
    $588,600
    $470,400
    $1,059,000

    Comparable in this City

    • Value Estimation
      $545,000
      20,292 SF

      2215 Crown Ctr Dr

      WAREHOUSE, STORAGE • 20,292 SF
      2215 Crown Ctr Dr, Charlotte, NC 28227-7703
      View Details
    • Value Estimation
      $560,000
      29,672 SF

      4500 Morris Park Dr

      WAREHOUSE, STORAGE • 29,672 SF
      4500 Morris Park Dr, Mint Hill, NC 28227-9200
      View Details
    • Value Estimation
      $420,000
      12,090 SF

      8200 Tower Pt Dr

      WAREHOUSE, STORAGE • 12,090 SF
      8200 Tower Pt Dr, Charlotte, NC 28227-6745
      View Details
    • Value Estimation
      $870,000
      53,495 SF

      8001 Tower Pt Dr

      WAREHOUSE, STORAGE • 53,495 SF
      8001 Tower Pt Dr, Charlotte, NC 28227-7726
      View Details
    • Value Estimation
      $235,000
      1,200 SF

      8400 Blair Rd

      WAREHOUSE, STORAGE • 1,200 SF
      8400 Blair Rd, Charlotte, NC 28227
      View Details
    • Value Estimation
      $285,000
      4,000 SF

      9826 Albemarle Rd

      WAREHOUSE, STORAGE • 4,000 SF
      9826 Albemarle Rd, Charlotte, NC 28227-3443
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      36,479 SF

      Charlotte Warehouse Space For Sale

      36,479 SF warehouse space available in Charlotte, NC.
      8012 Tower Point Dr, Charlotte, NC 28227
      View Details
    • $7,762,500
      46.12 Acres

      46 Acres Land in Charlotte

      46+/- acres ideal for warehouses or residential community development.
      14211 Cabarrus Rd, Charlotte, NC 28227
      View Details
    • Contact for pricing

      65 Acres Industrial Land I-485

      65-acre industrial land tract with I-485 frontage in Mint Hill.
      10501 Truelight Church Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      177-Acre Master Planned Business Park

      177-acre business park with GI zoning and outdoor storage.
      10701 Blair Rd, Mint Hill, NC 28227
      View Details
    • $215,000

      Wooded Home Site in Cheval

      Serene, natural setting in Creekside at Cheval neighborhood.
      3900 Piaffe Ave, Mint Hill, NC 28227
      View Details
    • $375,000

      New Office Building on Albemarle

      New office building with road frontage on Albemarle Road.
      10525 Albemarle Rd, Charlotte, NC 28227
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,118 SF

      Mint Hill Flex/Industrial Space

      Flex and industrial spaces available for lease in Mint Hill.
      10836 Clear Creek Commerce Dr, Mint Hill, NC 28227
      View Details
    • $3,000,000
      12,464 SF

      Crown Point Retail/Flex Opportunity

      Retail/flex space in mixed-use development, convenient location.
      2200 Crown Centre Dr, Charlotte, NC 28227
      View Details
    • $3,400 /Mo
      1,998 SF

      Flex Office Condo For Rent

      Flex office condo featuring thoughtful upgrades and professional environment.
      4455 Morris Park Dr, Mint Hill, NC 28227
      View Details
    • Contact for pricing
      139,361 SF

      Independence Square Retail Space

      Charlotte, NC retail space available.
      7323 Independence Blvd, Charlotte, NC 28227
      View Details
    • $2,095 /Mo

      Mint Hill Townhome with Garage

      Three-bedroom, two-and-a-half-bath townhome near Downtown Mint Hill.
      7043 Brighton Park Dr, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      Land for Lease or Build

      Approximately 1.990 AC available for ground lease or build to suit.
      11871 Albemarle Rd, Charlotte, NC 28227
      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.
    6824 Wilgrove Mint Hl Rd
    Mint Hill, NC 28227-3428
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.