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    21228 Catawba Ave Cornelius, NC 28031

    • Office buildings
    • 1,956 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Jan 21, 2020
    $340,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5453042
    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

    • Lake and Village Realty / Commercial Real Estate Agency / Real Estate Agent
    • Gregory Bracht & Associates / Real Estate Consultant

    Property Details for 21228 Catawba Ave

    Year built
    1958
    Lot size
    0.10 lot acres
    Property size
    1,956 SF
    Zone code
    TC
    Property type
    Office buildings
    APN
    520418
    APU
    520418

    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
    Cornelius
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8616
    Latitude
    35.4822
    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
    $1,681
    $89,700
    $170,400
    $260,100
    -
    $89,700
    $170,400
    $260,100

    Comparable in this City

    • Value Estimation
      $295,000
      2.64 Acres

      Cornelius, NC 28031

      OFFICE BUILDING • 2.64 Acres
      Cornelius, NC 28031
      View Details
    • Value Estimation
      $375,000
      1,394 SF

      20227 Railroad St

      OFFICE BUILDING • 1,394 SF
      20227 Railroad St, Cornelius, NC 28031-8547
      View Details
    • Value Estimation
      $775,000
      27,288 SF

      19600 Catawba Ave

      OFFICE BUILDING • 27,288 SF
      19600 Catawba Ave, Cornelius, NC 28031-4024
      View Details
    • Value Estimation
      $365,000
      1,652 SF

      Cornelius, NC 28031

      OFFICE BUILDING • 1,652 SF
      Cornelius, NC 28031
      View Details
    • Value Estimation
      $290,000
      984 SF

      18800 Catawba Ave

      OFFICE BUILDING • 984 SF
      18800 Catawba Ave, Cornelius, NC 28031-5619
      View Details
    • Value Estimation
      $310,000
      1,350 SF

      20727 Catawba Ave

      OFFICE BUILDING • 1,350 SF
      20727 Catawba Ave, Cornelius, NC 28031-8432
      View Details

    Similar Nearby for Sale

    • $1,050,000
      2,119 SF

      Cornelius Retail/Office Investment Opportunity

      Turn-key retail/office property in Cornelius, NC, with development potential.
      19428 Zion Ave, Cornelius, NC 28031
      View Details
    • $550,000
      1.03 Acres

      Office Space on Catawba Avenue

      Office space with signage opportunity on high-traffic Catawba Avenue.
      19824 W Catawba Ave, Cornelius, NC 28031
      View Details
    • New
      $729,000
      2,380 SF

      Tenant-Occupied Office Condos For Sale

      Two tenant-occupied office condos totaling 2,380 RSF in Cornelius, NC.
      19701 Bethel Church Rd, Cornelius, NC 28031
      View Details
    • New
      $729,000
      2,380 SF

      Tenant-Occupied Office Condos For Sale

      Two tenant-occupied office condos totaling 2,380 RSF in Cornelius, NC.
      19701 Bethel Church Rd, Cornelius, NC 28031
      View Details
    • $425,000

      Commercial Office Condo in Cornelius

      Versatile office condo in prime location, ideal for various uses.
      19701 Bethel Church Rd, Cornelius, NC 28031
      View Details
    • $1,050,000
      1.54 Acres

      Cornelius Land: Prime Development Site

      1.54 Acres, Mixed-Use Zoning, Catawba Ave.
      0 Catawba Ave, Cornelius, NC 28031
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      2,145 SF

      Class A Office Building

      Two-story office building with ample parking and signage opportunities.
      19410 Jetton Rd, Cornelius, NC 28031
      View Details
    • $5,000 /Mo
      2,022 SF

      Renovated Office Space in Cornelius

      Newly renovated office space with modern amenities in a prime location.
      17015 Kenton Dr, Cornelius, NC 28031
      View Details
    • $20 SF/Yr
      1,165 SF

      Spacious Office Space Available

      Large office space with kitchenette, reception, and storage.
      18047 W Catawba Ave, Cornelius, NC 28031
      View Details
    • Contact for pricing
      15,000 SF

      Highway 73 Office, Medical, Retail

      Office, medical, retail spaces with highway visibility and access.
      Kenton Dr, Cornelius, NC 28031
      View Details
    • $37 SF/Yr
      11,000 SF

      Regus Lake Norman Center

      Office space • 11,000 SF
      19109 Catawba Ave 200, Cornelius, NC 28031
      View Details
    • $900 /Mo

      Renovated Office Condo For Lease

      Recently renovated office condo with amenities included in lease rate.
      8226 Village Harbor Dr, Cornelius, NC 28031
      View Details
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    Cornelius, NC 28031
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    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
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