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Property profile & analytics
FOR LEASE
Strip malls
19400 Statesville Rd Cornelius, NC 28031
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-0487496
For Lease
1 / 7
$1,230,000
19400 Statesville Rd, Cornelius, NC 28031
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Total area
9,312 SF
Lot
1.23 ac (53,753 SF)
Zoning code
CZ(MPD)
APN
517115
UPID
US53-0487496
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
-
Atlas Painting & Home Services Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Karoon INC · 6 yrs held
Karoon INC
since 2019
6 recorded transactions
Zoning & alternative use
CZ(MPD) · Cornelius, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$132 / 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
$9,836
Tax year 2023
Assessed value
$1,522,200
Assessed 2024
Previous assessed
$1,550,100
-1.8% YoY
Effective rate
0.65%
On assessed value
Assessed land
$1,328,200
Assessed improvement
$194,000
Land market value
$1,328,200
Improvement market value
$194,000
Total market value
$1,522,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1980
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
12
Total area
9,312 SF
Lot
1.23 ac (53,753 SF)
Zoning code
CZ(MPD)
APN
517115
UPID
US53-0487496
Jurisdiction
MECKLENBURG
Zoning & alternative use
CZ(MPD) · Cornelius, NC
Zoning CZ(MPD) · permitted uses
CZ(MPD) · 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.
Building & site characteristics
From public records
Year built
1980
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
12
Lot
1.23 ac
Current owner
From public records · entity-resolved
Karoon INC
Entity
Mailing address
PO BOX 2189, CORNELIUS, NC 28031-2189
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2025
—
Karoon INC
—
Deed
related
$822,000 · Blueharbor Bank
Nov 17, 2023
—
Karoon INC
—
Deed
related
$822,000 · Blueharbor Bank
Sep 26, 2019
—
Karoon INC
Town Of Cornelius
Grant Deed
—
Aug 23, 1999
$550,000
Karoon INC
Parker,ben B
Grant Deed
—
—
—
Karoon INC
—
Deed Of Trust
related
$505,000 · First Charter Bank
—
—
Karoon INC
—
Deed Of Trust
related
$550,000 · Blueharbor 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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