Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1605 Galleria Blvd Charlotte, NC 28270

    • Strip malls
    • 18,589 SF
    • 1.55 lot acres
    For Lease
    View listing
    Last Sale
    Jun 07, 2022
    $6,100,000
    Value Estimations
    $6,455,000
    Cap Rate Potential
    5.7%
    Strip malls
    Location Intelligence
    Property ID
    US53-3778573
    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.

    Current Use by Public Records

    • Jimmy John's / Delivery Restaurant / Takeout Restaurant
    • Friendly Dental / Dentist / Dental Clinic
    • uBreakiFix - Phone and Computer Repair / Mobile Phone Repair Shop / Cell Phone Accessory Store
    • Matthews KnowledgePoints / Tutoring Service / After School Program

    Property Details for 1605 Galleria Blvd

    Year built
    2007
    Lot size
    1.55 lot acres
    Property size
    18,589 SF
    Zone code
    MUDD(CD)
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    19310313
    APU
    19310313

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,290,000
      ML approach
      $6,345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,980,000
      6.5%
      $5,520,000
      7%
      $5,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,392,000
      Market price range: $2.71M - $8.39M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,555,000
      Current use
      MEDICAL BUILDING
      $7,490,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $6,725,000
      Change: +21% Conversion: Moderate
      RETAIL STORES
      $6,020,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,845,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7366
    Latitude
    35.1354
    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
    $43,596
    $2,502,100
    $3,441,400
    $5,943,500
    -
    $2,502,100
    $3,441,400
    $5,943,500

    Comparable in this City

    • Value Estimation
      $1,215,000
      35,172 SF

      1640 Sardis N Rd

      SHOPPING CENTER, STRIP CENTER • 35,172 SF
      1640 Sardis N Rd, Charlotte, NC 28270-2479
      View Details
    • Value Estimation
      $310,000
      9,623 SF

      9010 Monroe Rd

      SHOPPING CENTER, STRIP CENTER • 9,623 SF
      9010 Monroe Rd, Charlotte, NC 28270-1594
      View Details
    • Value Estimation
      $900,000
      75,070 SF

      705 International Dr

      SHOPPING CENTER, STRIP CENTER • 75,070 SF
      705 International Dr, Charlotte, NC 28270-6971
      View Details
    • Value Estimation
      $330,000
      8,800 SF

      9614 Monroe Rd

      SHOPPING CENTER, STRIP CENTER • 8,800 SF
      9614 Monroe Rd, Charlotte, NC 28270-1447
      View Details
    • Value Estimation
      $870,000
      83,975 SF

      1721 Sardis N Rd

      SHOPPING CENTER, STRIP CENTER • 83,975 SF
      1721 Sardis N Rd, Charlotte, NC 28270-2568
      View Details
    • Value Estimation
      $1,135,000
      66,608 SF

      Charlotte, NC 28270

      SHOPPING CENTER, STRIP CENTER • 66,608 SF
      Charlotte, NC 28270
      View Details

    Similar Nearby for Sale

    • $650,000
      0.45 Acres

      Residential Land in Providence Plantation

      0.45 acre lot for luxury home in Charlotte, NC
      3113 Plantation Rd, Charlotte, NC 28270
      View Details
    • $212,000
      1,017 SF

      Charming Home with Cozy Fireplace

      Charming home featuring a fireplace, stylish backsplash, and fresh paint.
      4936 Sardis Rd, Charlotte, NC 28270
      View Details
    • $1,350,000

      Prime South Charlotte Development Opportunity

      1.9-acre parcel in desirable location with subdivision potential.
      8624 Sardis Rd, Charlotte, NC 28270
      View Details
    • $962,500

      Monroe Road Outparcel For Sale

      Approximately 1.75-acre outparcel for sale on Monroe Rd.
      9601 Monroe Rd, Charlotte, NC 28270
      View Details
    • $650,000
      Pending

      Wooded Lot in South Charlotte

      One-acre wooded lot for dream home construction in South Charlotte.
      3415 Lakeside Dr, Charlotte, NC 28270
      View Details
    • $380,000
      0.84 Acres

      Residential Land in Charlotte, NC

      Land available for building a dream home in Charlotte.
      521 Wilby Dr, Charlotte, NC 28270
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Charlotte, NC

      Retail space available for lease in Charlotte, North Carolina.
      Charlotte, NC 28270
      View Details
    • Contact for pricing
      34,690 SF

      Galleria Village Retail Space

      Charlotte, NC retail opportunity. Two spaces available.
      1636 Sardis Rd, Charlotte, NC 28270
      View Details
    • Contact for pricing
      4,308 SF

      Retail Space in South Charlotte

      Retail space for lease in a renovated South Charlotte location.
      7852 Arboretum Dr, Charlotte, NC 28270
      View Details
    • Contact for pricing
      3,151 SF

      Retail Space on Monroe Road

      Retail space with high visibility and multiple access points.
      9456 Monroe Rd, Charlotte, NC 28270
      View Details
    • Contact for pricing
      4,800 SF

      Flexible Space on Monroe Road

      Office, retail, and warehouse space with excellent road frontage.
      9313 Monroe Rd, Charlotte, NC 28270
      View Details
    • Contact for pricing
      1,617 SF

      Retail Space in Charlotte, NC

      Retail space available in Charlotte, near Matthews, North Carolina.
      1605 Galleria Blvd, Charlotte, NC 28270
      View Details

    Property Visit Statistics

    • Visits by month
      4.3k
    • Visitors by month
      4.8k
    • Avg Time on site
      37 min
    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.
    1605 Galleria Blvd
    Charlotte, NC 28270
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.