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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10609 Johnston Rd Charlotte, NC 28226-4730

    • Warehouses
    • 104,812 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2021
    $21,800,000
    Value Estimations
    $21,660,000
    Show details
    Cap Rate Potential
    4.5%
    Warehouses
    Location Intelligence
    Property ID
    US53-0067017
    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

    • CubeSmart Self Storage / Storage Facility

    Property Details for 10609 Johnston Rd

    Year built
    2019
    Lot size
    0.73 lot acres
    Property size
    104,812 SF
    Zone code
    NS
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    20924304
    APU
    20924304

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $25,600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,310,000
      6.5%
      $17,825,000
      7%
      $16,550,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,287,000
      Market price range: $8.29M - $21.3M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $14,185,000
      Current use
      RETAIL STORES
      $33,950,000
      Change: +139% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $31,330,000
      Change: +121% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8528
    Latitude
    35.0889
    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
    $119,227
    $1,366,800
    $14,887,700
    $16,254,500
    -
    $1,366,800
    $14,887,700
    $16,254,500

    Comparable in this City

    • Value Estimation
      $11,095,000
      103,794 SF

      5021 Carmel Ctr Dr

      MINI-WAREHOUSE, STORAGE • 103,794 SF
      5021 Carmel Ctr Dr, Charlotte, NC 28226-0802
      View Details
    • Value Estimation by Request
      400 SF

      6828 Old Providence Rd

      WAREHOUSE, STORAGE • 400 SF
      6828 Old Providence Rd, Charlotte, NC 28226
      View Details
    • Value Estimation
      $3,215,000
      19,229 SF

      10504 Mcmullen Crk Pkwy

      INDUSTRIAL (GENERAL) • 19,229 SF
      10504 Mcmullen Crk Pkwy, Charlotte, NC 28226-1632
      View Details
    • Value Estimation
      $3,205,000
      54,693 SF

      7510 Pineville Matthews Rd

      RESTAURANT • 54,693 SF
      7510 Pineville Matthews Rd, Charlotte, NC 28226-3906
      View Details
    • Value Estimation
      $2,195,000
      86,355 SF

      5007 Providence Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 86,355 SF
      5007 Providence Rd, Charlotte, NC 28226-5849
      View Details
    • Value Estimation by Request
      444 SF

      10801 Johnston Rd Ste, Unit 205

      CONDOMINIUM OFFICES • 444 SF
      10801 Johnston Rd Ste, Charlotte, NC 28226-0920
      View Details

    Similar Nearby for Sale

    • $2,500,000
      3.02 Acres

      Residential Land in South Charlotte

      Development opportunity in a desirable, rapidly growing South Charlotte location.
      7000 Old Providence Rd, Charlotte, NC 28226
      View Details
    • Contact for pricing

      Renovated Office Building with Amenities

      Newly renovated office building with retail, ample parking, and amenities.
      11111 Carmel Commons Blvd, Charlotte, NC 28226
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      Commercial Land Available For Sale

      Approximately 1.44 acres of commercial land for sale.
      7911 W T Harris Blvd, Charlotte, NC 28226
      View Details
    • $1,300,000
      0.42 Acres

      Charlotte Land with Development Potential

      Land in Charlotte, NC, suitable for multiple residential developments.
      6200 Old Providence Rd, Charlotte, NC 28226
      View Details
    • Contact for pricing
      70,000 SF

      University Area Office Condos

      Office condos for sale or lease in University area.
      2501 E W T Harris Blvd, Charlotte, NC 28226
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    • Contact for pricing
      1,610 SF

      Corporate Center Office For Sale

      Office space with ample parking in established business area.
      8037 Corporate Center Dr, Charlotte, NC 28226
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      49,454 SF

      Charlotte Industrial/Office Sublease Opportunity

      49,454 SF industrial/office space available for sublease.
      5100 W T Harris Blvd, Charlotte, NC 28226
      View Details
    • Contact for pricing

      Carmel Executive Park Office Space

      Office suites available in Carmel Executive Park, Charlotte.
      7422 Carmel Executive Park Dr, Charlotte, NC 28226
      View Details
    • New
      $2,550 /Mo

      Charlotte Office Space For Rent

      Office space available in a highly desirable Charlotte location.
      3121 Springbank Ln, Charlotte, NC 28226
      View Details
    • $2,300 /Mo
      348,480 SF

      Professional Office Suite in Charlotte

      Convenient office suite near Ballantyne with walkable amenities.
      10718 Carmel Cmns Blvd, Charlotte, NC 28226
      View Details
    • Contact for pricing
      2,959 SF

      Charlotte Office Space For Rent

      Office space available for lease in Charlotte, North Carolina.
      8008 Corporate Center Dr, Charlotte, NC 28226
      View Details
    • Contact for pricing
      7,589 SF

      Carmel Commons Office Space Available

      Office space available for lease in Charlotte, North Carolina.
      11440 Carmel Commons Blvd, Charlotte, NC 28226
      View Details
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    10609 Johnston Rd
    Charlotte, NC 28226-4730
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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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