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Property profile & analytics
OFF-MARKET
Estimated value
$13,800,000
Medical Office Space
1601 Abbey Pl, Charlotte, NC 28209-3835
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-0071356
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1993
Total area
36,432 SF
Lot
2.8 ac (121,881 SF)
Zoning code
O1
APN
17514527
UPID
US53-0071356
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
-
Robert Hollowell Dental Office
-
Durman Moose Physician
-
James Watkins Physician
-
Joel J. Napenas, DDS Dental Office
-
Joel M. Laudenbach, DMD Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$13.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.18M
Blend (final)
Blend
$13.80M
Owner & transaction history
Mmof IV Charlotte Nc LLC · 2 yrs held
Mmof IV Charlotte Nc LLC
since 2024
Last sale
$13.8M
7 recorded transactions
Zoning & alternative use
O1 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$13,800,000
ML approach
$13,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$14,685,000
Current use
OFFICE BUILDING
$13,180,000
Change: -10% · Conversion: Easy
RETAIL STORES
$11,800,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$13.80M
Range $12.42M – $15.18M · ±10% · vs last sale $13.80M (Jun 6 2024)
Last sale anchor
$13.80M
Jun 6 2024
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
$379 / 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
$83,739
Tax year 2023
Assessed value
$11,416,300
Assessed 2024
Previous assessed
$11,487,600
-0.6% YoY
Effective rate
0.73%
On assessed value
Assessed land
$4,825,500
Assessed improvement
$6,590,800
Land market value
$4,825,500
Improvement market value
$6,590,800
Total market value
$11,416,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1993
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Rooms
1
Total area
36,432 SF
Lot
2.8 ac (121,881 SF)
Zoning code
O1
APN
17514527
UPID
US53-0071356
Jurisdiction
MECKLENBURG
Zoning & alternative use
O1 · Charlotte, NC
Zoning O1 · permitted uses
O1 · 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
MEDICAL BUILDING Current
Est. value
$14.7M
OFFICE BUILDING
Est. value
$13.2M
RETAIL STORES
Est. value
$11.8M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
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
1993
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Rooms
1
Lot
2.8 ac
Current owner
From public records · entity-resolved
Mmof IV Charlotte Nc LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3807 CLEGHORN AVE STE #903, NASHVILLE, TN 37215-2549
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
36 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2024
$13,798,500
Mmof IV Charlotte Nc LLC
Faec Holdings Abbey LLC
Special Warranty Deed
—
Oct 22, 2020
$467,000
City Of Charlotte
Faec Holdings Abbey LLC
Grant Deed
—
May 14, 2020
—
Faec Holdings Abbey LLC
Faec Holdings Abbey LLC
Quit Claim Deed
related
—
Dec 20, 2017
$13,800,000
Faec Holdings Abbey LLC
Mmac Ht 1 Abbey LLC
Grant Deed
—
Dec 2, 2016
—
Mmac Ht I Abbey LLC
—
Deed
related
$49,350,000 · Bank Of America
Jun 1, 2015
$292,000
Mmac Ht I Abbey LLC
1601 Ap Private Investor Viii
Grant Deed
—
Jun 1, 2015
$284,000
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xvi L
Grant Deed
—
Jun 1, 2015
$111,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor Ix Ll
Grant Deed
—
Jun 1, 2015
$395,000
Mmac Ht I Abbey LLC
1601 Ap Private Investor III L
Grant Deed
—
Jun 1, 2015
$1,621,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xi Ll
Grant Deed
—
Jun 1, 2015
$343,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xvii
Grant Deed
—
Jun 1, 2015
—
1601 Ap Private Investor Xxiv
1601 Ap Group I LLC
Quit Claim Deed
related
—
Jun 1, 2015
$302,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor IV Ll
Grant Deed
—
Jun 1, 2015
$1,178,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor Vi Ll
Grant Deed
—
Jun 1, 2015
$508,000
Mmac Ht I Abbey LLC
1601 Ap Private Investor Vii L
Grant Deed
—
Jun 1, 2015
$1,559,000
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xxiii
Grant Deed
—
Jun 1, 2015
$696,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xiv L
Grant Deed
—
Jun 1, 2015
$206,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xviii
Grant Deed
—
Jun 1, 2015
$1,361,000
Mmac Ht I Abbey LLC
1601 Ap Private Investor Xii L
Grant Deed
—
Jun 1, 2015
$646,500
Mmac Ht I Abbey LLC
1601 Ap Private Investor I LLC
Grant Deed
—
Feb 17, 2010
—
Ap Private Investor Xvi 1601
1601 Ap Group I LLC
Quit Claim Deed
—
Dec 30, 2009
—
Ap Private Investor I L 1601
1601 Ap Group I LLC
Quit Claim Deed
$5,954,956 · First National Bank
Dec 7, 2009
—
1601 Ap Group I LLC
1601 Ap Private Investor Xi Ll
Quit Claim Deed
—
Oct 22, 2009
$50,000
Ap Private Investor Xii 1601
1601 Ap Group I LLC
Grant Deed
—
Aug 6, 2009
—
1601 Ap Group II LLC
1601 Ap II Private Investor I
Quit Claim Deed
—
Dec 27, 2007
—
1601 Ap Group II LLC
—
Trustees Deed
related
$3,300,000 · First National Bank
Jul 10, 2006
$400,000
1601 Ap II Private Invtr I LLC
1601 Ap Group II LLC
Warranty Deed
related
—
Apr 18, 2006
—
1601 Ap Group II LLC
Ro Group-abbey Place I LLC
Grant Deed
$2,324,000 · First National Bank
Nov 4, 2005
$550,000
Ap Private Investor Xi 1601
Ro Group-abbey Place I LLC
Warranty Deed
—
Feb 3, 2004
$2,500,000
Ro Group-abbey Place I LLC
Health Care Prop Invtrs INC
Grant Deed
$3,120,000 · First National Bank
May 1, 1998
$3,616,000
Health Care Property Inves
Health Care Prop
Grant Deed
related
—
Aug 11, 1993
$963,500
Health Care Prudential
Unknown
Grant Deed
—
—
—
Mmac Ht I Abbey LLC
—
Loan Modification
related
$49,350,000 · Bank Of America
—
—
Mmac Ht I Abbey LLC
—
Loan Modification
related
$37,570,000 · Bank Of America
—
—
Mmac Ht I Abbey LLC
—
Deed Of Trust
related
$32,200,000 · Bank Of America
—
—
Mmac Ht I Abbey LLC
—
Loan Modification
related
$44,400,000 · Bank Of America
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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