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Property profile & analytics
OFF-MARKET
Estimated value
$18,765,000
Strip malls
10618 Providence Rd Charlotte, NC 28277-9560
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-2741353
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1994
Total area
70,541 SF
Lot
8.92 ac (388,425 SF)
Zoning code
CC
APN
22511230
UPID
US53-2741353
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
-
Central Providence Veterinary Hospital Veterinary Clinic
-
Ultra Nail Boutique Pro Nail Salon
-
Vital Nail Boutique Nail Salon
-
Gill Marketing Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.07M
Comparable Approach
Comparable
$17.07M
Blend (final)
Blend
$18.77M
Owner & transaction history
Koury Providence Commons LLC · 4 yrs held
Koury Providence Commons LLC
since 2022
Last sale
$23.1M
2 recorded transactions
Zoning & alternative use
CC · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$28.4M
+34.8%
Office building
$23.3M
+10.6%
Retail stores
$22.9M
+8.4%
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
$23,815,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,405,000
6.5%
$16,065,000
7%
$14,920,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$21,085,000
Current use
MEDICAL BUILDING
$28,430,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$23,325,000
Change: +11% · Conversion: Moderate
RETAIL STORES
$22,850,000
Change: +8% · Conversion: Easy
AUTO REPAIR, GARAGE
$18,380,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$18.77M
Range $16.89M – $20.64M · ±10% · vs last sale $23.10M (Apr 13 2022)
Last sale anchor
$23.10M
Apr 13 2022
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
$266 / 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
$132,748
Tax year 2023
Assessed value
$18,097,900
Assessed 2024
Previous assessed
$18,307,400
-1.1% YoY
Effective rate
0.73%
On assessed value
Assessed land
$8,068,100
Assessed improvement
$10,029,800
Land market value
$8,068,100
Improvement market value
$10,029,800
Total market value
$18,097,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1994
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
70,541 SF
Lot
8.92 ac (388,425 SF)
Zoning code
CC
APN
22511230
UPID
US53-2741353
Jurisdiction
MECKLENBURG
Zoning & alternative use
CC · Charlotte, NC
Zoning CC · permitted uses
CC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$21.1M
MEDICAL BUILDING
Est. value
$28.4M
OFFICE BUILDING
Est. value
$23.3M
RETAIL STORES
Est. value
$22.9M
AUTO REPAIR, GARAGE
Est. value
$18.4M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1994
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
8.92 ac
Current owner
From public records · entity-resolved
Koury Providence Commons LLC
Entity
Mailing address
2275 VANSTORY ST, GREENSBORO, NC 27403-3675
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2022
$23,100,000
Koury Providence Commons LLC
Car Providence Commons LLC
Special Warranty Deed
$15,500,000 · Wells Fargo Bank NA
Mar 19, 2010
$29,536,500
Car Providence Commons LLC
Providence Road West Dev Co
Grant Deed
—
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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