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Property profile & analytics
OFF-MARKET
Estimated value
$8,840,000
Medical Office Space
12016 Lemmond Farm Dr Charlotte, NC 28227-8353
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-2277378
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2020
Total area
12,546 SF
Lot
1.24 ac (53,797 SF)
Zoning code
NS
APN
11146116
UPID
US53-2277378
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
$8.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.45M
Blend (final)
Blend
$8.84M
Owner & transaction history
Atrium Albemarle LLC · 4 yrs held
Atrium Albemarle LLC
since 2021
Last sale
$7.5M
1 recorded transaction
Zoning & alternative use
NS · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Neighborhood Services District (NS) is to encourage and accommodate the development and continued existence of mixed use districts, which provide a focus for neighborhood retail and service activities
Zone name
Neighborhood Services District
General category
MIXED_USE
Zone area
738.10 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$8.7M
+71.4%
Restaurant
$8.0M
+58.6%
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
$8,840,000
ML approach
$8,755,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,055,000
Current use
COMMERCIAL (GENERAL)
$8,665,000
Change: +71% · Conversion: Easy
RESTAURANT
$8,020,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$8.84M
Range $7.96M – $9.72M · ±10% · vs last sale $7.53M (Sep 20 2021)
Last sale anchor
$7.53M
Sep 20 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
$705 / 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
$28,188
Tax year 2023
Assessed value
$3,843,000
Assessed 2024
Previous assessed
$3,843,000
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,142,500
Assessed improvement
$2,700,500
Land market value
$1,142,500
Improvement market value
$2,700,500
Total market value
$3,843,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2020
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
12,546 SF
Lot
1.24 ac (53,797 SF)
Zoning code
NS
APN
11146116
UPID
US53-2277378
Jurisdiction
MECKLENBURG
Zoning & alternative use
NS · Charlotte, NCZoning NS · permitted uses
NS · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Neighborhood Services District (NS) is to encourage and accommodate the development and continued existence of mixed use districts, which provide a focus for neighborhood retail and service activities
Zone name
Neighborhood Services District
General category
MIXED_USE
Zone area
738.10 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$8.7M
RESTAURANT
Est. value
$8.0M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2020
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Atrium Albemarle LLC
Entity
Mailing address
1307 W MOREHEAD ST STE #208, CHARLOTTE, NC 28208-5276
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2021
$7,528,500
Atrium Albemarle LLC
Lemmond Farm Mob LLC
Special Warranty Deed
$5,065,000 · Protective Life And Annuity Insuran
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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