1308 Lorna St Charlotte, NC 28205-5281
Entity Owned
5-yr Hold
Free & Clear
Estimated value (blended)
$8.81M
Range $7.92M – $9.69M (±10%)
Implied cap rate
7.00%
In-place · NOI ÷ last sale
Property ID
US53-3196994
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2015
Total area
50,703 SF
Lot
0.89 ac (38,796 SF)
Zoning code
MUDD-O
APN
12902407
UPID
US53-3196994
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
City Government Office
-
Apartment Building Apartment Complex
-
Advertising Agency Marketing & Advertising
-
(Bike/Boat/Book/etc) Store
-
Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.20M
CAP Approach
CAP
$9.44M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.81M
Owner & transaction history
since 2021
Last sale
$7.5M
5 recorded transactions
Zoning & alternative use
MUDD-O · Charlotte, NC
Zoning description
The Mixed Use Development District encourages mixed use development and its accompanying support commercial and office uses while maintaining a strong emphasis on pedestrian scale, urban development, and amenities, when…
General category
MIXED_USE
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$8.81M
Value range
$7.92M – $9.69M
±10% around blend
Estimated value / SF
$174 / SF
Confidence
None
1 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
10
$7.92M
blend $8.81M
$9.69M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
50,703 SF
Lot area
0.89 ac
Year built
2015
Stories
3
APN
12902407
Assessed value
$10,912,500
Annual tax
$80,043
3
Income approach: direct capitalization
Partial preview
Income approach indication
$9.44M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$10.23M
@ 6.5% CAP return
$9.44M
@ 7% CAP return
$8.77M
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.81M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 28 sales
$481
-64%
Submarket 318 sales
$1,438
-88%
County 339 sales
$1,439
-88%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $174/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
7.00%
Implied, in-place cap rate for this garden apartment buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.00%
9.0%
NOI (est.)
$525k *
Last sale · Aug 2021
$7.50M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.50M
Move the market yield to see immediate price impact.
Value / SF
$148
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.50%7.00%7.50%
$473k
$7.27M
$6.75M
$6.30M
$525k
$8.08M
$7.50M
$7.00M
$578k
$8.88M
$8.25M
$7.70M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$80,043
Tax year 2023
Assessed value
$10,912,500
Assessed 2024
Previous assessed
$12,003,900
-9.1% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,573,200
Assessed improvement
$9,339,300
Land market value
$1,573,200
Improvement market value
$9,339,300
Total market value
$10,912,500
Applied tax rate
8.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2015
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
3
Total area
50,703 SF
Lot
0.89 ac (38,796 SF)
Zoning code
MUDD-O
APN
12902407
UPID
US53-3196994
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDD-O · Charlotte, NCZoning MUDD-O · permitted uses
MUDD-O · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The Mixed Use Development District encourages mixed use development and its accompanying support commercial and office uses while maintaining a strong emphasis on pedestrian scale, urban development, and amenities, when…
General category
MIXED_USE
Building & site characteristics
From public records
Year built
2015
Heating
HEAT PUMP
Cooling
Yes
Stories
3
Lot
0.89 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MUDD-O
MIXED_USE
Jurisdiction
Charlotte, NC
Recorded code
MUDD-O
Official district
MUDD-O
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MUDD-O in Charlotte, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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