Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    127 Park Ave Charlotte, NC 28203-5468
    Property profile & analytics

    127 Park Ave, Charlotte, NC 28203-5468

    View on Map
    • Parking lots & garages
    • 21,843 SF
    • 0.18 lot acres
    Off-Market
    Last Sale Jul 9, 2021
    $44,850,000
    Property ID
    US53-5337086
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 127 Park Ave

    Year built
    2015
    Lot size
    0.18 lot acres
    Zone code
    B1
    Property type
    Parking lots & garages
    APN
    12306116
    APU
    12306116

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 9, 2021 $44,850,000 Rg Park & Kingston LLC Br Park Kingston Charlotte LLC Special Warranty Deed —
    Oct 25, 2019 — Br Pk & Kingston Charlotte LLC — Grant Deed · related $19.6M · Miscellaneous Ins Co
    May 27, 2016 — Br Park & Kingston Charlotte L Br Park & Kingston II Charlott Quit Claim Deed $3.2M · Cbre Multifamily Cap
    Dec 2, 2015 $2,870,000 Br Park & Kingston II Charlott Park Kingston Investors LLC Grant Deed —
    Dec 2, 2015 — Br Park & Kingston II Charlott Park Kingston Investors LLC Quit Claim Deed · related —
    Dec 2, 2013 $415,000 Park Kingston Investors LLC Backstreets Marketing Group In Grant Deed —
    Feb 1, 2008 $350,000 Backstreets Marketing Group In Eco INC Warranty Deed $298k · Bank Of Commerce
    — — Backstreets Marketing Group In — Deed Of Trust · related $14k · Bank Of Commerce
    — — Br Park & Kingston Charlotte L — Loan Modification · related $15.3M · Federal Nat'l Mtg Assn (fnma)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8583
    Latitude
    35.2151
    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
    $26,641
    $1,583,800
    $2,048,300
    $3,632,100
    -
    $1,583,800
    $2,048,300
    $3,632,100

    Comparable in this City

    • Value Estimation
      $1,550,000
      731,279 SF

      2632 Tryon St

      PARKING GARAGE, PARKING STRUCTURE
      2632 Tryon St, Charlotte, NC 28203
      View Details
    • Value Estimation
      $630,000
      123,066 SF

      240 Doggett St

      PARKING GARAGE, PARKING STRUCTURE
      240 Doggett St, Charlotte, NC 28203
      View Details
    • Value Estimation
      $2,275,000
      310,200 SF

      2300 Ss Blvd

      PARKING GARAGE, PARKING STRUCTURE
      2300 Ss Blvd, Charlotte, NC 28203-6361
      View Details
    • Value Estimation by Request
      132,807 SF

      Charlotte, NC 28203

      PARKING GARAGE, PARKING STRUCTURE
      Charlotte, NC 28203
      View Details
    • Value Estimation
      $48,615,000
      55,577 SF

      125 Park Ave

      PARKING GARAGE, PARKING STRUCTURE
      125 Park Ave, Charlotte, NC 28203-4592
      View Details
    • Value Estimation
      $510,000
      74,736 SF

      2130 Ss Blvd

      PARKING GARAGE, PARKING STRUCTURE
      2130 Ss Blvd, Charlotte, NC 28203
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,854 SF

      South End Retail Investment Opportunity

      Prime location in Charlotte's vibrant South End entertainment district.
      1431-1443 South Blvd, Charlotte, NC 28203
      View Details
    • Contact for pricing
      4,006 SF

      South End Adaptive Re-Use Property

      Freestanding retail property in Charlotte's South End neighborhood.
      230 Fairwood Ave, Charlotte, NC 28203
      View Details
    • $1,800,000
      Pending

      Prime Location in Dilworth, Charlotte

      Incredible location near SouthEnd with city views and high walkability.
      212 E Park Ave, Charlotte, NC 28203
      View Details
    • Contact for pricing
      14,807 SF

      Adaptive Re-Use Retail Property

      Freestanding retail property in Charlotte's South End neighborhood.
      217-225 Fairwood Ave, Charlotte, NC 28203
      View Details
    • Contact for pricing

      Mid-Rise Apartment Building For Sale

      Award-winning mid-rise apartment building in a high-rise submarket.
      2200 Dunavant St, Charlotte, NC 28203
      View Details
    • Contact for pricing
      1,450 SF

      Updated Office Condo for Professionals

      5,820 SF office condo with 15+ private offices.
      2010 S Tryon St, Charlotte, NC 28203
      View Details

    Similar Nearby for Lease

    • $7,900 /Mo
      Pending

      SouthEnd Redevelopment Site For Rent

      Redevelopment site with mechanic facility in Charlotte's SouthEnd.
      2217 Tryon St, Charlotte, NC 28203
      View Details
    • Contact for pricing
      Pending

      SouthEnd Redevelopment Opportunity

      Redevelopment site with mechanic facility and high visibility.
      2217 Tryon St, Charlotte, NC 28203
      View Details
    • Contact for pricing
      2,826 SF

      Retail Space Available For Lease

      Retail suites available for lease in Charlotte, North Carolina.
      1930 Camden Rd, Charlotte, NC 28203
      View Details
    • Contact for pricing
      9,841 SF

      Creative Office and Retail Space

      Adaptive reuse project with creative office and retail space.
      2218 Toomey Ave, Charlotte, NC 28203
      View Details
    • Contact for pricing
      12,046 SF

      South End Ghost Kitchen Opportunity

      Charlotte Ghost Kitchen Suites Available
      500 Summit Ave, Charlotte, NC 28203
      View Details
    • Contact for pricing

      Showroom, Design Center, Event Space

      10,000 SF showroom, design center, or event space available.
      1331 S Mint St, Charlotte, NC 28203
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    127 Park Ave
    Charlotte, NC 28203-5468
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    127 Park Ave, Charlotte, NC, 28203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!