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Property profile & analytics
FOR LEASE
Office buildings
18047 W Catawba Ave, Cornelius, NC 28031
Entity Owned
29-yr Hold
Free & Clear
Property ID
US53-0562916
For Lease
1 / 3
$18 SF/Yr
18047 W Catawba Ave, Cornelius, NC 28031
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
39,596 SF
Lot
2.52 ac (109,684 SF)
Zoning code
NMX
APN
167101
UPID
US53-0562916
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
-
Lake Norman Children's Therapy Physician
-
Shannon Morris Physician
-
Jennifer Plummer Physician
-
Kellye Slaggert Counselor Practitioner Service Location
-
Carolina Senior Benefits Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.40M
Comparable Approach
Comparable
$8.84M
Blend (final)
Blend
$8.80M
Owner & transaction history
G Properties · 29 yrs held
G Properties
since 1996
7 recorded transactions
Zoning & alternative use
NMX · Cornelius, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$14.3M
+38.3%
Retail stores
$12.6M
+21.4%
Industrial (general)
$12.3M
+18.4%
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 Cornelius submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cornelius 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%
$12,345,000
6.5%
$11,395,000
7%
$10,580,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,350,000
Current use
MEDICAL BUILDING
$14,315,000
Change: +38% · Conversion: Easy
RETAIL STORES
$12,570,000
Change: +21% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$12,255,000
Change: +18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$11,425,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$8.80M
Range $7.92M – $9.68M · ±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
$222 / 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
$41,339
Tax year 2023
Assessed value
$6,397,200
Assessed 2024
Previous assessed
$6,479,500
-1.3% YoY
Effective rate
0.65%
On assessed value
Assessed land
$2,020,900
Assessed improvement
$4,376,300
Land market value
$2,020,900
Improvement market value
$4,376,300
Total market value
$6,397,200
Applied tax rate
2.0000
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
1997
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Units
1
Rooms
10
Total area
39,596 SF
Lot
2.52 ac (109,684 SF)
Zoning code
NMX
APN
167101
UPID
US53-0562916
Jurisdiction
MECKLENBURG
Zoning & alternative use
NMX · Cornelius, NC
Zoning NMX · permitted uses
NMX · Cornelius, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cornelius. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$10.4M
MEDICAL BUILDING
Est. value
$14.3M
RETAIL STORES
Est. value
$12.6M
INDUSTRIAL (GENERAL)
Est. value
$12.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.4M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
1
Rooms
10
Lot
2.52 ac
Current owner
From public records · entity-resolved
G Properties
Entity
Free & Clear · 29 yrs held
Mailing address
108 MDW ST, GARDEN CITY, NY 11530-6613
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 1996
—
G Properties
G & D Properties
Quit Claim Deed
related
—
Oct 15, 1996
$550,000
G Properties
—
Grant Deed
related
$1,025,000 · Lincoln Bank
May 21, 1996
$550,000
Gerasimos Alexatos
Alexatos,gerasim
Grant Deed
related
—
May 10, 1996
$275,000
Gerasimos Alexatos
—
Grant Deed
related
$50,000 · Bustle Johnny R JR & Cheryl M
Jul 1, 1994
$275,000
Johnny R Bustle JR.
Harborview,partn
Grant Deed
—
Feb 18, 1993
$150,000
Harborview Partners
Unknown
Grant Deed
—
—
—
G & D Properties Of Nc LLC
—
Deed Of Trust
related
$2,000,000 · Alliance Bk
—
—
G & D Properties Of Nc LLC
—
Deed Of Trust
related
$1,300,000 · Charlotte Metro Cu
—
—
G Properties
—
Deed Of Trust
related
$1,600,000 · Piedmont Bank
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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