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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Office Spaces
20462 Chartwell Ctr Dr 2 Cornelius, NC 28031-6595
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1303906
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1989
Total area
2,475 SF
Lot
0.99 ac (43,182 SF)
Zoning code
HC
APN
527321
UPID
US53-1303906
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
-
The CBA Group Business Management Consultant Business Broker
-
FedEx Drop Box Postal Service Courier Service
-
Gem Association / Organization
-
Safe Retirement Planners Financial Advisor
-
Palm Springs 77 spa Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
$710k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$995k
Owner & transaction history
Triangle Management Holding LLC · 2 yrs held
Triangle Management Holding LLC
since 2023
Last sale
$1.0M
5 recorded transactions
Zoning & alternative use
HC · Cornelius, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Highway Commercial district is coded to provide for the location of auto-oriented and auto-dependent uses or those uses which have a definable market area which extends beyond the scale of the Neighborhood, Village or Town Center. The intent of these provisions is to facilitate convenient access, minimize traffic congestion and reduce visual clutter alon…
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
260.57 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.6M
+147.4%
Medical building
$895,000
+38.3%
Retail stores
$785,000
+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
$1,105,000
ML approach
$1,160,000
CAP Approach
CAP Return
Estimation
6%
$770,000
6.5%
$710,000
7%
$660,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$645,000
Current use
COMMERCIAL (GENERAL)
$1,600,000
Change: +147% · Conversion: Easy
MEDICAL BUILDING
$895,000
Change: +38% · Conversion: Easy
RETAIL STORES
$785,000
Change: +21% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$715,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$680,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±10% · vs last sale $1.00M (Sep 2 2021)
Last sale anchor
$1.00M
Sep 2 2021
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
$402 / 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
$1,940
Tax year 2023
Assessed value
$300,200
Assessed 2024
Previous assessed
$300,200
+0.0% YoY
Effective rate
0.65%
On assessed value
Assessed improvement
$300,200
Improvement market value
$300,200
Total market value
$300,200
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
1989
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,475 SF
Lot
0.99 ac (43,182 SF)
Zoning code
HC
APN
527321
UPID
US53-1303906
Jurisdiction
MECKLENBURG
Zoning & alternative use
HC · Cornelius, NCZoning HC · permitted uses
HC · Cornelius, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Highway Commercial district is coded to provide for the location of auto-oriented and auto-dependent uses or those uses which have a definable market area which extends beyond the scale of the Neighborhood, Village or Town Center. The intent of these provisions is to facilitate convenient access, minimize traffic congestion and reduce visual clutter along certain designated commercial corridors in the vicinity of the I-77 Exit 28 interchange and Statesville Road (US 21).
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
260.57 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$645,000
COMMERCIAL (GENERAL)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$895,000
RETAIL STORES
Est. value
$785,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$715,000
AUTO REPAIR, GARAGE
Est. value
$680,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Triangle Management Holding LLC
Entity
Free & Clear · 2 yrs held
Mailing address
19520 W CATAWBA AVE STE #200, CORNELIUS, NC 28031-3709
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2023
$1,000,000
Triangle Management Holding LLC
Norman Crossing Offices LLC
Special Warranty Deed
—
Sep 2, 2021
$680,000
Norman Crossing Offices LLC
Stephen L Smith
Warranty Deed
$510,000 · Truliant FCU
Jun 6, 2003
$700,000
Stephen L Smith
Simco Properties LLC
Grant Deed
—
—
—
Smith,stephen L & Mary E
—
Loan Modification
related
$277,760 · Wells Fargo Bk
—
—
Stephen L Smith
—
Deed Of Trust
related
$15,000 · J Vagnone Ent LLC
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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