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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Motels
20740 Torrence Chapel Rd Cornelius, NC 28031-6318
Entity Owned
27-yr Hold
Free & Clear
Property ID
US53-0452387
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1988
Total area
35,055 SF
Lot
2.24 ac (97,574 SF)
Zoning code
HC
APN
114407
UPID
US53-0452387
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
-
Red Roof Inn & Suites Cornelius - Lake Norman Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$740k
Owner & transaction history
Mb Inn INC · 27 yrs held
Mb Inn INC
since 1998
2 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
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$740k
Range $666k – $814k · ±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
$21 / 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
$18,820
Tax year 2023
Assessed value
$2,912,400
Assessed 2024
Previous assessed
$5,467,200
-46.7% YoY
Effective rate
0.65%
On assessed value
Assessed land
$1,527,600
Assessed improvement
$1,384,800
Land market value
$1,527,600
Improvement market value
$1,384,800
Total market value
$2,912,400
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1988
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
90
Total area
35,055 SF
Lot
2.24 ac (97,574 SF)
Zoning code
HC
APN
114407
UPID
US53-0452387
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
Building & site characteristics
From public records
Year built
1988
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
90
Lot
2.24 ac
Current owner
From public records · entity-resolved
Mb Inn INC
Entity
Free & Clear · 27 yrs held
Mailing address
20740 TORRENCE CHAPEL RD, CORNELIUS, NC 28031-6318
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 1998
—
Mb Inn INC
Mb Inn INC
Quit Claim Deed
related
—
Jan 19, 1995
$3,400,000
Mb Hotel Partners LP
Mb Hotel Partner
Grant Deed
related
—
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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