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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Warehouses
1906 Bancroft St, Charlotte, NC 28206-3041
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US53-1299583
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Total area
3,750 SF
Lot
7.98 ac (347,739 SF)
Zoning code
I-2
APN
7910233
UPID
US53-1299583
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$720k
Blend (final)
Blend
$535k
Owner & transaction history
Summit Avenue Bancroft LLC · 11 yrs held
Summit Avenue Bancroft LLC
since 2014
3 recorded transactions
Zoning & alternative use
I-2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$810,000
+73.9%
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
$455,000
CAP Approach
CAP Return
Estimation
6%
$775,000
6.5%
$715,000
7%
$665,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$465,000
Current use
OFFICE BUILDING
$810,000
Change: +74% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$143 / 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
$22,154
Tax year 2023
Assessed value
$3,020,300
Assessed 2024
Previous assessed
$3,142,100
-3.9% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,999,100
Assessed improvement
$21,200
Land market value
$2,999,100
Improvement market value
$21,200
Total market value
$3,020,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Heating
NONE
Cooling
NONE
Stories
1
Total area
3,750 SF
Lot
7.98 ac (347,739 SF)
Zoning code
I-2
APN
7910233
UPID
US53-1299583
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-2 · Charlotte, NC
Zoning I-2 · permitted uses
I-2 · 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
WAREHOUSE, STORAGE Current
Est. value
$465,000
OFFICE BUILDING
Est. value
$810,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
1996
Heating
NONE
Cooling
Yes
Stories
1
Lot
7.98 ac
Current owner
From public records · entity-resolved
Summit Avenue Bancroft LLC
Entity
Mailing address
1440 S TRYON ST STE #104, CHARLOTTE, NC 28203-4263
Ownership since
2014
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
Feb 4, 2020
—
Summit Avenue Bancroft LLC
—
Deed
related
$540,000 · Donald J Sherrill
Dec 19, 2014
$640,000
Summit Avenue Bancroft LLC
Transport Intl Pool INC
Grant Deed
$540,000 · Donald J Sherrill
—
—
Summit Avenue Bancroft LLC
—
Loan Modification
related
$540,000 · Donald J Sherrill
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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