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Property profile & analytics
FOR SALE
Retail space
18206 Manhatten Pkwy Cornelius, NC 28031
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-0664053
For Sale
1 / 3
Contact for pricing
18206 Manhatten Pkwy, Cornelius, NC 28031
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
5,351 SF
Lot
0.47 ac (20,534 SF)
Zoning code
VC
APN
512181
UPID
US53-0664053
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
-
Sherwin-Williams Paint Store Hardware & Home Improvement Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.03M
Owner & transaction history
Igf Properties LLC · 9 yrs held
Igf Properties LLC
since 2017
7 recorded transactions
Zoning & alternative use
VC · Cornelius, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Village Center district is coded to encourage the development of large-scale mixed-use districts that compliment and serve the daily needs of adjoining neighborhoods and are supported by existing and planned transportation networks constructed to support the traffic demands of both the auto and the pedestrian. Building heights ensure proper spatial defin…
Zone name
Village Center
General category
MIXED_USE
Zone area
216.61 ac
Source
Realmo
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%
$1,090,000
6.5%
$1,010,000
7%
$935,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,700,000
Current use
INDUSTRIAL (GENERAL)
$1,655,000
Change: -2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,545,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,470,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±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
$192 / 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
$9,811
Tax year 2023
Assessed value
$1,518,200
Assessed 2024
Previous assessed
$1,527,000
-0.6% YoY
Effective rate
0.65%
On assessed value
Assessed land
$356,900
Assessed improvement
$1,161,300
Land market value
$356,900
Improvement market value
$1,161,300
Total market value
$1,518,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
2008
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
5,351 SF
Lot
0.47 ac (20,534 SF)
Zoning code
VC
APN
512181
UPID
US53-0664053
Jurisdiction
MECKLENBURG
Zoning & alternative use
VC · Cornelius, NCZoning VC · permitted uses
VC · Cornelius, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Village Center district is coded to encourage the development of large-scale mixed-use districts that compliment and serve the daily needs of adjoining neighborhoods and are supported by existing and planned transportation networks constructed to support the traffic demands of both the auto and the pedestrian. Building heights ensure proper spatial definition, encourage strong pedestrian spaces and promote mixed use within buildings. Parking requirements may be satisfied using on-street parking, shared rear-lot parking areas or small scale parking lots adjacent to buildings. Buildings in the village center should have similar massing, volume, frontage, scale, and architectural features. Transitions from residential areas should be accomplished through proper street design.
Zone name
Village Center
General category
MIXED_USE
Zone area
216.61 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2008
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Igf Properties LLC
Entity
Mailing address
1123 CHAPALA ST STE 200TH XX
Ownership since
2017
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
Jul 10, 2017
—
Igf Properties LLC
Igf Investment Grade Fund I LP
Quit Claim Deed
$10,130,000 · Cantor Com'l R/e Lndg
Dec 7, 2016
—
Igf Investment Grade Fund I LP
—
Deed
related
$723,195 · Farmers & Merchants Bk/lng Bch
Nov 28, 2016
$1,446,500
Igf Investment Grade Fund I LP
George Currin Properties LLC
Warranty Deed
—
Jul 29, 2016
—
George Currin Properties LLC
—
Deed
related
$900,000 · Wells Fargo Bk
May 7, 2013
—
George Currin Properties LLC
Currin-patterson Lavelle Props
Quit Claim Deed
related
—
Jun 23, 2008
—
Currin-patterson Lavelle LLC
Glenn Investment
Warranty Deed
—
Jan 30, 2008
$325,000
Glenn Investment Co
Stallings Holdings Ltd LLC
Warranty Deed
—
—
—
George Currin Properties LLC
—
Loan Modification
related
$900,000 · Wells Fargo Bk
—
—
Igf Investment Grade Fund I LP
—
Deed Of Trust
related
$723,195 · Farmers & Merchants Bk/lng Bch
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.
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