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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office Spaces
19701 Bethel Church Rd Ste 203 Cornelius, NC 28031-4070
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-5571219
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2002
Total area
1,144 SF
Lot
0.47 ac (20,641 SF)
Zoning code
VC
APN
512322
UPID
US53-5571219
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
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$343k
Blend (final)
Blend
$565k
Owner & transaction history
Jenrette Real Estate LLC · 3 yrs held
Jenrette Real Estate LLC
since 2023
Last sale
$550,000
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
Top alternative use upside
Commercial (general)
$740,000
+147.4%
Medical building
$415,000
+38.3%
Retail stores
$365,000
+21.4%
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
$610,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$740,000
Change: +147% · Conversion: Easy
MEDICAL BUILDING
$415,000
Change: +38% · Conversion: Easy
RETAIL STORES
$365,000
Change: +21% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $550k (May 11 2023)
Last sale anchor
$550k
May 11 2023
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
$494 / 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
$1,603
Tax year 2023
Assessed value
$248,000
Assessed 2024
Previous assessed
$248,000
+0.0% YoY
Effective rate
0.65%
On assessed value
Assessed improvement
$248,000
Improvement market value
$248,000
Total market value
$248,000
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
2002
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,144 SF
Lot
0.47 ac (20,641 SF)
Zoning code
VC
APN
512322
UPID
US53-5571219
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
COMMERCIAL (GENERAL)
Est. value
$740,000
MEDICAL BUILDING
Est. value
$415,000
RETAIL STORES
Est. value
$365,000
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Jenrette Real Estate LLC
Entity
Free & Clear · 3 yrs held
Mailing address
127 PATTERNOTE CV LN, MOORESVILLE, NC 28117-5969
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2023
$550,000
Jenrette Real Estate LLC
Veritas Property Holdings LLC
Warranty Deed
—
Apr 27, 2023
—
Veritas Property Holdings LLC
Grasshopper 3 LLC
Correction Deed
related
—
May 10, 2022
$440,000
Vertias Property Holdings LLC
Grasshopper 3 LLC
Warranty Deed
—
Jan 28, 2019
—
Grasshopper 3 LLC
—
Deed
related
$540,000 · Bank Of America
Sep 11, 2013
$80,000
Grasshopper 3 LLC
Green Street V LLC
Warranty Deed
—
Nov 21, 2011
$100,000
Green Street V LLC
Carolina Trustee Services LLC
Trustees Deed
related
—
Feb 12, 2008
$173,000
Jon M Bass JR
Raceway Development Group LLC
Warranty Deed
$147,050 · American Community Bank
Jul 20, 2005
$173,000
Raceway Dev Group LLC
Superior Plumbing Co INC
Warranty Deed
$146,625 · Citizens South Bank
May 3, 2004
$153,500
Superior Plumbing Co INC
Cornelius Village Center Of Meckl
Warranty Deed
related
$130,500 · Catawba Valley Bank
—
—
Grasshopper 3 LLC
—
Deed Of Trust
related
$540,000 · Bank Of America
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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