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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Retail space
2005 Commonwealth Ave Charlotte, NC 28205
Entity Owned
26-yr Hold
Free & Clear
Property ID
US53-0486799
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Total area
3,190 SF
Lot
0.15 ac (6,691 SF)
Zoning code
B-2
APN
8117626
UPID
US53-0486799
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
$820k
Comparable Approach
Comparable
$406k
Blend (final)
Blend
$610k
Owner & transaction history
Barwick & Associates LLC · 26 yrs held
Barwick & Associates LLC
since 1999
3 recorded transactions
Zoning & alternative use
B-2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$955,000
+9.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$765,000
Alternative Use
Use
Estimation
RETAIL STORES
$870,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$955,000
Change: +10% · Conversion: Moderate
OFFICE BUILDING
$835,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$830,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$191 / 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
$5,487
Tax year 2023
Assessed value
$748,100
Assessed 2024
Previous assessed
$750,500
-0.3% YoY
Effective rate
0.73%
On assessed value
Assessed land
$524,000
Assessed improvement
$224,100
Land market value
$524,000
Improvement market value
$224,100
Total market value
$748,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1950
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
5
Total area
3,190 SF
Lot
0.15 ac (6,691 SF)
Zoning code
B-2
APN
8117626
UPID
US53-0486799
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-2 · Charlotte, NCZoning B-2 · permitted uses
B-2 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$870,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$955,000
OFFICE BUILDING
Est. value
$835,000
AUTO REPAIR, GARAGE
Est. value
$830,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1950
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
5
Lot
0.15 ac
Current owner
From public records · entity-resolved
Barwick & Associates LLC
Entity
Free & Clear · 26 yrs held
Mailing address
8033 CORPORATE CTR DR STE #400, CHARLOTTE, NC 28226-4549
Ownership since
1999
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
Oct 6, 1999
$240,000
Barwick & Associates LLC
Satellite,commun
Grant Deed
—
Jan 15, 1999
$135,000
Four Fields LLC
Satellite,commun
Grant Deed
—
—
—
Barwick
—
Deed Of Trust
related
$160,000 · Bank Of North Carolina
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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