Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2016 Millerton Ave Charlotte, NC 28208-5103

    • Garden apartment buildings
    • 57,631 SF
    • 5.75 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2022
    $66,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5751400
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 2016 Millerton Ave

    Year built
    2014
    Lot size
    5.75 lot acres
    Property size
    57,631 SF
    Zone code
    MUDDO
    Property type
    Garden apartment buildings
    APN
    6703115
    APU
    6703115

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8735
    Latitude
    35.2291
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $419,361
    $6,262,400
    $50,910,200
    $57,172,600
    -
    $6,262,400
    $50,910,200
    $57,172,600

    Comparable in this City

    • Value Estimation by Request
      1,456 SF

      2115 Weyland Ave

      GARDEN APT, COURT APT (5+ UNITS) • 1,456 SF
      2115 Weyland Ave, Charlotte, NC 28208-4946
      View Details
    • Value Estimation
      $1,105,000
      5,796 SF

      2060 Weyland Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,796 SF
      2060 Weyland Ave, Charlotte, NC 28208-4945
      View Details
    • Value Estimation
      $27,145,000
      175,109 SF

      Charlotte, NC 28208

      GARDEN APT, COURT APT (5+ UNITS) • 175,109 SF
      Charlotte, NC 28208
      View Details
    • Value Estimation
      $7,980,000
      48,041 SF

      Charlotte, NC 28208

      GARDEN APT, COURT APT (5+ UNITS) • 48,041 SF
      Charlotte, NC 28208
      View Details
    • Value Estimation
      $2,800,000
      16,504 SF

      2908 Cross Rds Pl

      GARDEN APT, COURT APT (5+ UNITS) • 16,504 SF
      2908 Cross Rds Pl, Charlotte, NC 28208-6969
      View Details
    • Value Estimation
      $1,910,000
      10,314 SF

      5501 Northstream Dr

      GARDEN APT, COURT APT (5+ UNITS) • 10,314 SF
      5501 Northstream Dr, Charlotte, NC 28208-2885
      View Details

    Similar Nearby for Sale

    • $1,315,000

      Charlotte Multifamily Investment Opportunity

      Ten Class B apartments near Charlotte's central business district.
      2611 Holton Ave, Charlotte, NC 28208
      View Details
    • $439,900
      0.29 Acres

      Historic Charlotte Building Redevelopment Opportunity

      Charming historic building near Uptown Charlotte with redevelopment potential.
      4145 Gossett Ave, Charlotte, NC 28208
      View Details
    • New
      $1,575,000
      0.15 Acres

      Charlotte New Construction Townhome Portfolio

      Five-unit townhome portfolio near Charlotte's airport corridor, estimated completion March 2026.
      2100 Bombay Way, Charlotte, NC 28208
      View Details
    • $525,000
      Pending

      Three Single Family Homes

      Investment opportunity: three single-family homes on one parcel.
      3540 Bost St, Charlotte, NC 28208
      View Details
    • New
      $625,000
      0.12 Acres

      New Charlotte Duplex: Investor Ready

      New duplex near Uptown Charlotte, ideal for investors or owner-occupants.
      4504/4506 W Tyvola Rd, Charlotte, NC 28208
      View Details
    • $725,000
      0.22 Acres

      New Construction Duplex with ADU

      New construction duplex with detached ADU, built in 2024.
      729 Wabash Ave, Charlotte, NC 28208
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      NC, Charlotte - Morehead St

      Discover many ways to work your way in San Antonio Airport
      2303 Morehead St, Charlotte, NC 28208
      View Details
    • Contact for pricing
      35,100 SF

      Industrial Warehouse Space Available

      35,100 square foot industrial warehouse available for lease.
      2520 Eatonton St, Charlotte, NC 28208
      View Details
    • Contact for pricing
      60,000 SF

      Sublease Opportunity: Refrigerated Warehouse Space

      Sublease opportunity with freezer, cooler, and dry warehouse space.
      4825 Hovis Rd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      11,796 SF

      Creative Office and Retail Space

      Revitalized textile mill offering Class A creative office and retail.
      500-528 S Turner Ave, Charlotte, NC 28208
      View Details
    • $46,000
      352,836 SF

      Charlotte Industrial Flex Warehouse Opportunity

      63,000+/- sq ft warehouse near I-85 in Charlotte, NC.
      129 Dupree St, Charlotte, NC 28208
      View Details
    • Contact for pricing
      8,711 SF

      Charlotte Warehouse with Dock Doors

      8,711 SF warehouse with multiple dock high doors.
      3101 Yorkmont Rd, Charlotte, NC 28208
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2016 Millerton Ave
    Charlotte, NC 28208-5103
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!