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Property profile & analytics
FOR LEASE
Retail space
1024 North Tryon St Charlotte, NC 28206
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-5514276
For Lease
$705,000
1024 North Tryon St, Charlotte, NC 28206
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1925
Total area
3,182 SF
Lot
0.15 ac (6,439 SF)
Zoning code
I-2
APN
8102410
UPID
US53-5514276
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$705k
Owner & transaction history
Rr Tryon LLC · 1 yrs held
Rr Tryon LLC
since 2024
Last sale
$705,000
5 recorded transactions
Zoning & alternative use
I-2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$705,000
ML approach
$705,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$760,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,030,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$950,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$830,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $705k (Nov 27 2024)
Last sale anchor
$705k
Nov 27 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$222 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,558
Tax year 2023
Assessed value
$348,700
Assessed 2024
Previous assessed
$348,700
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$241,300
Assessed improvement
$107,400
Land market value
$241,300
Improvement market value
$107,400
Total market value
$348,700
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1925
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Rooms
4
Total area
3,182 SF
Lot
0.15 ac (6,439 SF)
Zoning code
I-2
APN
8102410
UPID
US53-5514276
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-2 · Charlotte, NCZoning I-2 · permitted uses
I-2 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$950,000
AUTO REPAIR, GARAGE
Est. value
$830,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Rooms
4
Lot
0.15 ac
Current owner
From public records · entity-resolved
Rr Tryon LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1910 ABBOTT ST STE #202, CHARLOTTE, NC 28203-5193
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2024
$705,000
Rr Tryon LLC
The Optimus Buusding LLC
Special Warranty Deed
—
Aug 8, 2019
$875,000
Optimus Building LLC
Rafat Ents LLC
Grant Deed
$1,435,921 · Branch Bk&tr
Aug 3, 2011
—
Rafat Ents LLC
Demneh,rafat R
Quit Claim Deed
—
Jun 29, 2011
$130,000
Rafat R Demneh
Pars Ents Group LLC
Warranty Deed
—
Jan 15, 2008
$575,000
Pars Ents Group LLC
Alexander,james L
Warranty Deed
$490,000 · James L Alexander
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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