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Property profile & analytics
FOR LEASE
Office buildings
1720 Galleria Blvd, Charlotte, NC 28270
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1424294
For Lease
1 / 2
$21,380,000
1720 Galleria Blvd, Charlotte, NC 28270
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Total area
107,394 SF
Lot
10.93 ac (475,980 SF)
Zoning code
I-1
APN
19310116
UPID
US53-1424294
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
-
El Mercadito Food Market Farmer's Market
-
Guanabanas Y Mas Charlotte Food Market Specialty Food Shop
-
Galleria Central Market (Bike/Boat/Book/etc) Store
-
Kinetic by Windstream Telecommunications Service Data Center
-
Flippin Minis Bakery Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.22M
Comparable Approach
Comparable
$23.78M
Blend (final)
Blend
$21.38M
Owner & transaction history
Dev Partners Sardi Progressive · 22 yrs held
Dev Partners Sardi Progressive
since 2003
3 recorded transactions
Zoning & alternative use
I-1 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$29,485,000
6.5%
$27,220,000
7%
$25,275,000
Alternative Use
Use
Estimation
RETAIL STORES
$34,785,000
Change: -10% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$32,105,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$21.38M
Range $19.24M – $23.52M · ±10%
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
$199 / 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
$117,314
Tax year 2023
Assessed value
$15,993,700
Assessed 2024
Previous assessed
$17,528,300
-8.8% YoY
Effective rate
0.73%
On assessed value
Assessed land
$3,887,300
Assessed improvement
$12,106,400
Land market value
$3,887,300
Improvement market value
$12,106,400
Total market value
$15,993,700
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2002
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
107,394 SF
Lot
10.93 ac (475,980 SF)
Zoning code
I-1
APN
19310116
UPID
US53-1424294
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-1 · Charlotte, NC
Zoning I-1 · permitted uses
I-1 · 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
RETAIL STORES
Est. value
$34.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$32.1M
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
10.93 ac
Current owner
From public records · entity-resolved
Dev Partners Sardi Progressive
Entity
Mailing address
8514 MCALPINE PARK DR STE #190, CHARLOTTE, NC 28211-5204
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2018
—
Galleria Partners I LLC
—
Loan Modification
related
$7,500,000 · Wells Fargo Bk
Dec 17, 2012
—
Galleria Partners I LLC
—
Deed Of Trust
related
$5,167,518 · Wells Fargo Bank
Aug 27, 2003
$10,283,500
Dev Partners Sardi Progressive
Sardis Cut Corp
Grant Deed
related
$24,238,850 · 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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