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Property profile & analytics
OFF-MARKET
Estimated value
$21,660,000
Warehouses
10609 Johnston Rd, Charlotte, NC 28226-4730
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0067017
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2019
Total area
104,812 SF
Lot
0.73 ac (31,961 SF)
Zoning code
NS
APN
20924304
UPID
US53-0067017
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
Current use
Occupant on record · Public records
-
CubeSmart Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.83M
Comparable Approach
Comparable
$21.29M
Blend (final)
Blend
$21.66M
Owner & transaction history
Pineville Owner LLC · 4 yrs held
Pineville Owner LLC
since 2021
Last sale
$21.8M
6 recorded transactions
Zoning & alternative use
NS · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$34.0M
+139.4%
Neighborhood: shopping center
$31.3M
+120.9%
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
$25,600,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$19,310,000
6.5%
$17,825,000
7%
$16,550,000
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
Blend value · Realmo final
$21.66M
Range $19.49M – $23.83M · ±10% · vs last sale $21.80M (Dec 17 2021)
Last sale anchor
$21.80M
Dec 17 2021
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
$207 / 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
$119,227
Tax year 2023
Assessed value
$16,254,500
Assessed 2024
Previous assessed
$17,215,700
-5.6% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,366,800
Assessed improvement
$14,887,700
Land market value
$1,366,800
Improvement market value
$14,887,700
Total market value
$16,254,500
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2019
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
671
Rooms
8
Total area
104,812 SF
Lot
0.73 ac (31,961 SF)
Zoning code
NS
APN
20924304
UPID
US53-0067017
Jurisdiction
MECKLENBURG
Zoning & alternative use
NS · Charlotte, NC
Zoning NS · permitted uses
NS · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$14.2M
RETAIL STORES
Est. value
$34.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.3M
WAREHOUSE, STORAGE Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2019
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
671
Rooms
8
Lot
0.73 ac
Current owner
From public records · entity-resolved
Pineville Owner LLC
Entity
Mailing address
30 HUDSON YARDS, NEW YORK, NY 10001-2170
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2024
—
Pineville Owner LLC
—
Deed
related
$148,000,000 · Breds V Mortgage Gsm LLC
Dec 17, 2021
$21,800,000
Pineville Owner LLC
Johnston Road Storage Owner LLC
Special Warranty Deed
$245,000,000 · Jpmorgan Chase Bank NA
Oct 5, 2018
—
Johnston Road Storage Owner Ll
Johnston Road Storage LLC
Quit Claim Deed
—
Jan 4, 2017
—
Johnston Road Storage LLC
Nam,joon M & Leonora
Warranty Deed
—
Jan 4, 2017
$985,000
Johnston Road Storage LLC
Nam,joon M & Leonora
Warranty Deed
—
Nov 15, 2005
$695,000
Joon M Nam
Novak Of Kutner Associates Ltd
Grant Deed
$635,000 · Novak/kutner Associates Ltd
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.
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