Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Office Spaces
19520 Catawba Ave Ste 311 Cornelius, NC 28031-3711
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2168283
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2004
Total area
3,144 SF
Lot
1.88 ac (81,980 SF)
Zoning code
VC
APN
512337
UPID
US53-2168283
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
by Request
CAP Approach
CAP
$905k
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$925k
Owner & transaction history
Lee Property Group LLC · 3 yrs held
Lee Property Group LLC
since 2023
5 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
Top alternative use upside
Medical building
$1.1M
+38.3%
Retail stores
$1.0M
+21.4%
Neighborhood: shopping center
$905,000
+10.4%
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%
$980,000
6.5%
$905,000
7%
$840,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$820,000
Current use
MEDICAL BUILDING
$1,135,000
Change: +38% · Conversion: Easy
RETAIL STORES
$1,000,000
Change: +21% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$905,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$860,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±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
$294 / 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
$5,161
Tax year 2023
Assessed value
$798,700
Assessed 2024
Previous assessed
$798,700
+0.0% YoY
Effective rate
0.65%
On assessed value
Assessed improvement
$798,700
Improvement market value
$798,700
Total market value
$798,700
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2004
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,144 SF
Lot
1.88 ac (81,980 SF)
Zoning code
VC
APN
512337
UPID
US53-2168283
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
OFFICE BUILDING Current
Est. value
$820,000
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$860,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
2004
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.88 ac
Current owner
From public records · entity-resolved
Lee Property Group LLC
Entity
Free & Clear · 3 yrs held
Mailing address
14328 RYKER WAY, DAVIDSON, NC 28036-2321
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2023
—
Lee Property Group LLC
Elizabeth B Fitzpatrick
Correction Deed
related
—
Sep 30, 2022
$815,000
Lee Property Group LLC
Elizabeth B Fitzpatrick
Warranty Deed
$733,500 · First National Bank Of Pennsylvania
Dec 9, 2011
—
JR Davidson Properties LLC
Peninsula Park Executive Build
Grant Deed
—
Dec 20, 2006
—
Pk Ll Peninsula Executive
Owner,record
Grant Deed
related
—
—
—
JR Davidson Properties LLC
—
Deed Of Trust
related
$1,075,000 · First Citizens Bank & Trust Co
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?”
You own 19520 Catawba Ave Ste, Unit 311?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
