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Property profile & analytics
OFF-MARKET
Estimated value
$1,095,000
Garden apartment buildings
20409 Sterling Bay W Ln, Cornelius, NC 28031-4940
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US53-1015377
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1997
Total area
15,210 SF
Lot
41 ac (1,786,004 SF)
Zoning code
NR
APN
338102
UPID
US53-1015377
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
$710k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$820k
Blend (final)
Blend
$1.10M
Owner & transaction history
Wmci Charlotte III LLC · 22 yrs held
Wmci Charlotte III LLC
since 2003
7 recorded transactions
Zoning & alternative use
NR · 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
Method
Estimation
Statistic approach
by Request
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.10M
Range $986k – $1.20M · ±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
$72 / 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
$359,578
Tax year 2023
Assessed value
$55,645,000
Assessed 2024
Previous assessed
$65,318,800
-14.8% YoY
Effective rate
0.65%
On assessed value
Assessed land
$17,939,400
Assessed improvement
$37,705,600
Land market value
$17,939,400
Improvement market value
$37,705,600
Total market value
$55,645,000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
21
Stories
3
Rooms
1
Total area
15,210 SF
Lot
41 ac (1,786,004 SF)
Zoning code
NR
APN
338102
UPID
US53-1015377
Jurisdiction
MECKLENBURG
Zoning & alternative use
NR · Cornelius, NC
Zoning NR · permitted uses
NR · 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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
21
Rooms
1
Lot
41 ac
Current owner
From public records · entity-resolved
Wmci Charlotte III LLC
Entity
Mailing address
3951ST STILLMAN PKWYPY, GLEN ALLEN, VA 23060-4168
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2017
—
Wmci Charlotte III LLC
—
Deed
related
$39,272,000 · Regions Bk
May 24, 2013
—
Gtp Acquisition Ptrs II LLC
—
Deed Of Trust
related
$645,000,000 · Bank Of Ny Mellon
Dec 15, 2003
$19,450,000
Wmci Charlotte III LLC
Sterling Bay LLC
Grant Deed
—
Aug 1, 1999
—
Sterling,bay LLC
Sterling,apartme
Quit Claim Deed
related
—
—
—
Wmci Charlotte III LLC
—
Deed Of Trust
related
$19,000,000 · Greystone Servicing Corp
—
—
Wmci Charlotte III LLC
—
Deed Of Trust
related
$2,800,000 · Greystone Servicing Corp
—
—
Gtp Structures IV LLC
—
Deed Of Trust
related
$500,000,000 · Toronto Dominion Texas INC
—
—
Wmci Charlotte III LLC
—
Deed Of Trust
related
$16,250,000 · Union Capital Investments INC
—
—
Wmci Charlotte III LLC
—
Deed Of Trust
related
$39,272,000 · Regions Bk
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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