Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1620 E Roosevelt Blvd Monroe, NC 28112
    Back to Search
    Property profile & analytics

    1620 E Roosevelt Blvd, Monroe, NC 28112

    View on Map
    • Strip malls
    • 45,280 SF
    • 7.36 lot acres
    For Sale
    $3,790,000
    View Listing →
    Monroe Center Retail Property For Sale
    $3,790,000
    45,080 SF

    Monroe Center Retail Property

    45,080 SF retail property on 7.36 acres.

    1620 E Roosevelt Blvd, Monroe, NC 28112
    View Listing
    Property ID
    US53-1113396
    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

    • Papa John's Pizza / Restaurant
    • Southern States - Monroe / Pet Store & Service

    Property Details for 1620 E Roosevelt Blvd

    Year built
    1994
    Lot size
    7.36 lot acres
    Zone code
    GB MONROE
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    09-156-004B
    APU
    09156004B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,325,000
      ML approach
      $3,325,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.5134
    Latitude
    34.9722
    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
    $45,317
    $2,124,300
    $2,031,300
    $4,155,600
    -
    $2,124,300
    $2,031,300
    $4,155,600

    Comparable in this City

    • Value Estimation by Request
      60,508 SF

      100 Sunset Dr

      SHOPPING CENTER, STRIP CENTER
      100 Sunset Dr, Monroe, NC 28112-6057
      View Details
    • Value Estimation by Request
      10,825 SF

      1643 Franklin St

      SHOPPING CENTER, STRIP CENTER
      1643 Franklin St, Monroe, NC 28112-4518
      View Details
    • Value Estimation by Request
      4,420 SF

      1010 Lancaster Ave

      SHOPPING CENTER, STRIP CENTER
      1010 Lancaster Ave, Monroe, NC 28112-5910
      View Details
    • Value Estimation
      $765,000
      18,000 SF

      421 Franklin St

      SHOPPING CENTER, STRIP CENTER
      421 Franklin St, Monroe, NC 28112-5601
      View Details
    • Value Estimation by Request
      4,448 SF

      322 Franklin St

      SHOPPING CENTER, STRIP CENTER
      322 Franklin St, Monroe, NC 28112-4820
      View Details
    • Value Estimation by Request
      6,300 SF

      1113 Sunset Ln

      SHOPPING CENTER, STRIP CENTER
      1113 Sunset Ln, Monroe, NC 28112-4355
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45,080 SF

      Monroe Center Retail Property

      45,080 SF retail property on 7.36 acres.
      1620 E Roosevelt Blvd, Monroe, NC 28112
      View Details
    • $400,000
      13.35 Acres

      Monroe Land with Income Potential

      13.35 acres in Union County with commercial zoning.
      7301 Wolf Pond Rd, Monroe, NC 28112
      View Details
    • Contact for pricing
      7,440 SF

      Corner Lot Office/Retail Opportunity

      Corner lot with drive-through, ideal for office or retail.
      1402 E Franklin St, Monroe, NC 28112
      View Details
    • Contact for pricing

      Two-Story Office/Retail Building

      Office/retail building in Monroe's medical district, flexible layout.
      315 S Sutherland Ave, Monroe, NC 28112
      View Details
    • Contact for pricing
      2,480 SF

      Industrial Property on Pageland Highway

      Industrial property with service garage, excellent visibility, and easy access.
      1826 Pageland Hwy, Monroe, NC 28112
      View Details
    • Contact for pricing

      Approved Mixed-Use Retail Development Site

      7.46-acre mixed-use development site with highway frontage in Monroe, NC.
      3379 Highway 74 W, Monroe, NC 28112
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      700 SF

      Hilltop Plaza: Monroe Commercial Land

      Prime Monroe location, two spaces available.
      801 Roosevelt Blvd, Monroe, NC 28112
      View Details
    • Contact for pricing

      Prime Commercial Space For Lease

      Exceptional leasing opportunity in a high-traffic location.
      1606 E Roosevelt Blvd, Monroe, NC 28112
      View Details
    • Contact for pricing

      Land For Rent Monroe

      Land available for rent in Monroe, North Carolina.
      837 E Roosevelt Blvd, Monroe, NC 28112
      View Details
    • Contact for pricing
      4,000 SF

      Monroe Flex Space Available

      4,000 SF suite with private offices and parking.
      1643 Campus Park Dr, Monroe, NC 28112
      View Details
    • Contact for pricing
      16,000 SF

      Monroe Flex/Industrial Space Available

      2,000 SF flex/industrial space for lease in Monroe, NC.
      372 Acme Dr, Monroe, NC 28112
      View Details

    Property Visit Statistics

    • Visits by month
      1.8k
    • Visitors by month
      1.5k
    • Avg Time on site
      14 min
    View Listing
    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.
    1620 E Roosevelt Blvd
    Monroe, NC 28112
    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
    1620 E Roosevelt Blvd, Monroe, NC, 28112
    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!