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Property profile & analytics
OFF-MARKET
Estimated value
$5,960,000
Strip malls
19700 1st Norman Blvd Cornelius, NC 28031-5914
Individually Owned
33-yr Hold
Free & Clear
Property ID
US53-2197638
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1993
Total area
54,246 SF
Lot
5.72 ac (248,989 SF)
Zoning code
HC
APN
512202
UPID
US53-2197638
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
-
Choplin's Restaurant Restaurant
-
Fancy Nails Nail Salon
-
Turbo Brakes Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.96M
Owner & transaction history
One Norman Center L P · 33 yrs held
One Norman Center L P
since 1993
1 recorded transaction
Zoning & alternative use
HC · 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
$110 / 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
$40,737
Tax year 2023
Assessed value
$6,304,100
Assessed 2024
Previous assessed
$6,306,900
0.0% YoY
Effective rate
0.65%
On assessed value
Assessed land
$3,678,500
Assessed improvement
$2,625,600
Land market value
$3,678,500
Improvement market value
$2,625,600
Total market value
$6,304,100
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
Off-Market
Year built
1993
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
54,246 SF
Lot
5.72 ac (248,989 SF)
Zoning code
HC
APN
512202
UPID
US53-2197638
Jurisdiction
MECKLENBURG
Zoning & alternative use
HC · Cornelius, NC
Zoning HC · permitted uses
HC · 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
1993
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
5.72 ac
Current owner
From public records · entity-resolved
One Norman Center L P
Individual
Free & Clear · 33 yrs held
Mailing address
PO BOX 36509, CHARLOTTE, NC 28236-6509
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 1993
$903,000
One Norman Center L P
Unknown
Grant Deed
—
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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