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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office buildings
21235 Catawba Ave Cornelius, NC 28031-8504
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-1338651
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1916
Total area
2,568 SF
Lot
0.23 ac (9,946 SF)
Zoning code
NR
APN
317605
UPID
US53-1338651
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
-
Lake Norman Law Firm Law Firm
-
Hunt Group Employment Agency
-
Adam Gray Breeding Law Firm
-
Rick Ruffin Law Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$350k
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$676k
Blend (final)
Blend
$560k
Owner & transaction history
Lake Norman Holdings LLC · 7 yrs held
Lake Norman Holdings LLC
since 2019
4 recorded transactions
Zoning & alternative use
NR · Cornelius, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$930,000
+38.3%
Retail stores
$815,000
+21.4%
Neighborhood: shopping center
$740,000
+10.4%
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
by Request
ML approach
$350,000
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$740,000
7%
$685,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$670,000
Current use
MEDICAL BUILDING
$930,000
Change: +38% · Conversion: Easy
RETAIL STORES
$815,000
Change: +21% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$740,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$705,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$218 / 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
$3,163
Tax year 2023
Assessed value
$489,500
Assessed 2024
Previous assessed
$494,300
-1.0% YoY
Effective rate
0.65%
On assessed value
Assessed land
$140,000
Assessed improvement
$349,500
Land market value
$140,000
Improvement market value
$349,500
Total market value
$489,500
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1916
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
1
Rooms
3
Bathrooms
2
Total area
2,568 SF
Lot
0.23 ac (9,946 SF)
Zoning code
NR
APN
317605
UPID
US53-1338651
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$670,000
MEDICAL BUILDING
Est. value
$930,000
RETAIL STORES
Est. value
$815,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$740,000
AUTO REPAIR, GARAGE
Est. value
$705,000
OFFICE BUILDING Current
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
1916
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Rooms
3
Bathrooms
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Lake Norman Holdings LLC
Entity
Free & Clear · 7 yrs held
Mailing address
21235 CATAWBA AVE, CORNELIUS, NC 28031-8504
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2019
$365,000
Lake Norman Holdings LLC
Trustees Of Davidson United Methodi
Warranty Deed
—
Dec 21, 2011
—
Trustees Of Davidson United Metho
Catawba Partners LLC
Grant Deed
—
Jul 10, 1998
$191,000
Catawba Partners LLC
Catawba Partners
Grant Deed
related
—
Feb 2, 1994
$20,000
Ted Hampton Thompson
Unknown
Grant Deed
—
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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