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Property profile & analytics
FOR LEASE
Warehouses
2218 Toomey Ave, Charlotte, NC 28203
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-0457402
For Lease
1 / 2
$34 SF/Yr
2218 Toomey Ave, Charlotte, NC 28203
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Total area
22,196 SF
Lot
2.26 ac (98,489 SF)
Zoning code
R-5
APN
11904632
UPID
US53-0457402
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
-
Duct Fabrication Production Facility Metal Fabrication Plant
-
Clancy & Theys Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.24M
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$3.47M
Owner & transaction history
Rrpvii Quarter Charlotte LP · 1 yrs held
Rrpvii Quarter Charlotte LP
since 2024
6 recorded transactions
Zoning & alternative use
R-5 · Charlotte, 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 Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte 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%
$4,585,000
6.5%
$4,235,000
7%
$3,930,000
Blend value · Realmo final
$3.47M
Range $3.12M – $3.81M · ±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
$156 / 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
$45,701
Tax year 2023
Assessed value
$6,230,500
Assessed 2024
Previous assessed
$5,030,400
+23.9% YoY
Effective rate
0.73%
On assessed value
Assessed land
$3,871,600
Assessed improvement
$2,358,900
Land market value
$3,871,600
Improvement market value
$2,358,900
Total market value
$6,230,500
Applied tax rate
8.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1980
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
10
Total area
22,196 SF
Lot
2.26 ac (98,489 SF)
Zoning code
R-5
APN
11904632
UPID
US53-0457402
Jurisdiction
MECKLENBURG
Zoning & alternative use
R-5 · Charlotte, NC
Zoning R-5 · permitted uses
R-5 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
10
Lot
2.26 ac
Current owner
From public records · entity-resolved
Rrpvii Quarter Charlotte LP
Entity
Free & Clear · 1 yrs held
Mailing address
4445 WILLARD AVE STE #900, CHEVY CHASE, MD 20815-3788
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2024
$5,600,000
Rrpvii Quarter Charlotte LP
22132218 Toomey Avenue Owner LLC
Special Warranty Deed
—
Jul 29, 2024
—
Rrpvii Quarter Charlotte LP
22132218 Toomey Avenue Owner LLC
Warranty Deed
—
Nov 16, 2020
—
2213 2218 Toomey Avenue Owner LLC
Wayne A Smith
Deed
—
—
—
Wayne A Smith
—
Deed Of Trust
related
$275,000 · Bank Of Nc
—
—
Wayne A Smith
—
Loan Modification
related
$200,000 · Bank Of North Carolina
—
—
Smith,wayne A & Diane C
—
Loan Modification
related
$200,000 · Bank Of Nc
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.
Try Rey
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