New search
Property profile & analytics
FOR LEASE
Strip malls
1605 Galleria Blvd, Charlotte, NC 28270
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-3778573
For Lease
1 / 2
$6,210,000
1605 Galleria Blvd, Charlotte, NC 28270
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Total area
18,589 SF
Lot
1.55 ac (67,605 SF)
Zoning code
MUDD(CD)
APN
19310313
UPID
US53-3778573
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
-
Jimmy John's Take-out & Catering
-
Friendly Dental Dental Office
-
uBreakiFix - Phone and Computer Repair Computer & Electronic Repair Tech Support Center
-
Matthews KnowledgePoints Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.35M
CAP Approach
CAP
$5.52M
Comparable Approach
Comparable
$8.39M
Blend (final)
Blend
$6.21M
Owner & transaction history
Lmr II Galleria Commons LLC · 4 yrs held
Lmr II Galleria Commons LLC
since 2022
Last sale
$6.1M
4 recorded transactions
Zoning & alternative use
MUDD(CD) · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$7.5M
+34.8%
Office building
$6.7M
+21.0%
Retail stores
$6.0M
+8.4%
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
$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
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
Blend value · Realmo final
$6.21M
Range $5.59M – $6.83M · ±10% · vs last sale $6.10M (Jun 7 2022)
Last sale anchor
$6.10M
Jun 7 2022
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
$334 / 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
$43,596
Tax year 2023
Assessed value
$5,943,500
Assessed 2024
Previous assessed
$5,998,800
-0.9% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,502,100
Assessed improvement
$3,441,400
Land market value
$2,502,100
Improvement market value
$3,441,400
Total market value
$5,943,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2007
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
18,589 SF
Lot
1.55 ac (67,605 SF)
Zoning code
MUDD(CD)
APN
19310313
UPID
US53-3778573
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDD(CD) · Charlotte, NC
Zoning MUDD(CD) · permitted uses
MUDD(CD) · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$7.5M
OFFICE BUILDING
Est. value
$6.7M
RETAIL STORES
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
2007
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Lmr II Galleria Commons LLC
Entity
Mailing address
212 E 3RD ST, CINCINNATI, OH 45202-5500
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2024
—
Lmr II Galleria Commons LLC
—
Deed
related
—
Jun 7, 2022
$6,100,000
Lmr II Galleria Commons LLC
Zrp Galleria Commons LLC
Special Warranty Deed
$4,345,000 · First Financial Bank
May 11, 2021
$3,700,000
Zrp Galleria Commons LLC
Galleria Partners II LLC
Special Warranty Deed
$2,600,000 · Pinnacle Bank
—
—
Galleria Partners II LLC
—
Deed Of Trust
related
$3,700,000 · 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
