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    Property profile & analytics

    5920 Weddington Monroe Rd Weddington, NC 28104

    • Retail properties
    • 71,425 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 5920 Weddington Monroe Rd

    Year built
    2004
    Property size
    71,425 SF
    Property type
    Retail properties

    Description

    Village Commons I, a 71,425 square foot retail center in Wesley Chapel, NC, offers a 2,925 square foot vacant suite. Built in 2004, this property is part of a larger, multi-phased development totaling 430,000 square feet, strategically located at the southwest and southeast quadrants of Weddington Road (Hwy 84) and Waxhaw-Indian Trail Road. The center serves as the primary shopping destination for the Village of Wesley Chapel, boasting a strong anchor tenant, Harris Teeter, and additional restaurant and service tenants occupying 26,051 square feet. This single-suite space presents a unique opportunity for businesses seeking high visibility and access to a thriving community in Union County, North Carolina. The property's address is 5920 Weddington Monroe Rd, Wesley Chapel, NC 28104. This prime location offers excellent accessibility and exposure to a significant customer base. The available space is ideal for a variety of retail uses and presents a compelling investment opportunity in a well-established and growing area. The property is classified as Commercial Retail with multiple tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Weddington
    County
    Union
    State
    North Carolina
    Longitude
    -80.7104
    Latitude
    35.0451

    Comparable in this City

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      65,500 SF

      5610 Potter Rd

      Restaurants • 65,500 SF
      5610 Potter Rd, Matthews, NC 28104
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    • Value Estimation by Request
      22,500 SF

      Weddington Rd And Antioch Church Rd

      Retail properties • 22,500 SF
      0 Weddington Rd And Antioch Church Rd, Wesley Chapel, NC 28104
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    • Value Estimation by Request
      204,329 SF

      6350 Weddington Est

      Individual retail properties • 204,329 SF
      6350 Weddington Est, Waxhaw, NC 28104
      View Details
    • Value Estimation
      $8,600,000
      48,464 SF

      5955 Weddington Rd

      GROCERY, SUPERMARKET • 48,464 SF
      5955 Weddington Rd, Matthews, NC 28104-6296
      View Details
    • Value Estimation
      $6,495,000
      52,429 SF

      13641 Providence Rd

      GROCERY, SUPERMARKET • 52,429 SF
      13641 Providence Rd, Matthews, NC 28104-9373
      View Details

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    Similar Nearby for Lease

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      Village Commons III Retail Space

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      Prime Union County location, 22,500 SF available.
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      Matthews Restaurant Sublease & Sale

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    5920 Weddington Monroe Rd
    Weddington, NC 28104
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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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