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    Property profile & analytics

    224 Lk Concord NE Rd Concord, NC 28025

    • Garden apartment buildings
    • 18,288 SF
    • 9.45 lot acres
    OFF-MARKET
    Value Estimation
    $21,620,000
    Last Sale
    Apr 26, 2022
    $24,750,000
    Location Intelligence
    Property ID
    US53-1222619
    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

    • Garden apartment buildings

    Property Details for 224 Lk Concord NE Rd

    Year built
    1991
    Construction
    WOOD
    Lot size
    9.45 lot acres
    Property size
    18,288 SF
    Zone code
    RC
    Property type
    Garden apartment buildings
    APN
    5621 49 0155
    APU
    5621490155

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $20,735,000

    • CAP approach

      CAP return
      Estimation
      6%
      $26,240,000
      6.5%
      $26,470,000
      7%
      $26,485,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $21,540,000
      Geo Method
      $27,920,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $23,155,000
      Retail
      $22,670,000
      Mixed-Use
      $28,480,000
      Hospitality
      $30,120,000
      Educational
      $21,820,000
      Residential Income
      $24,840,000
      Energy
      $22,785,000
      Income-Based Land
      $24,000,000
      Food Service
      $21,750,000

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.598
    Latitude
    35.4407
    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
    2024
    $202,345
    $361,390
    $19,954,420
    $20,315,810
    -
    $361,390
    $19,954,420
    $20,315,810

    Comparable in this City

    • Value Estimation by Request
      7,584 SF

      101 Concord Chase Cir

      GARDEN APT, COURT APT (5+ UNITS) • 7,584 SF
      101 Concord Chase Cir, Concord, NC 28025
      View Details
    • Value Estimation
      $420,000
      4,530 SF

      15 Brookwood NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,530 SF
      15 Brookwood NE Ave, Concord, NC 28025-3205
      View Details
    • Value Estimation
      $380,000
      8,730 SF

      295 Hatley NE Cir

      GARDEN APT, COURT APT (5+ UNITS) • 8,730 SF
      295 Hatley NE Cir, Concord, NC 28025-3436
      View Details
    • Value Estimation by Request
      47,064 SF

      200 Bishop Ln

      GARDEN APT, COURT APT (5+ UNITS) • 47,064 SF
      200 Bishop Ln, Concord, NC 28025-2888
      View Details
    • Value Estimation by Request
      14,906 SF

      178 Un S St

      GARDEN APT, COURT APT (5+ UNITS) • 14,906 SF
      178 Un S St, Concord, NC 28025-2007
      View Details
    • Value Estimation by Request
      42,372 SF

      200 Virginia SE St

      GARDEN APT, COURT APT (5+ UNITS) • 42,372 SF
      200 Virginia SE St, Concord, NC 28025-3519
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      550,000 SF

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      Premier, fully furnished office space in downtown Concord.
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      Retail/Office Space For Lease

      Versatile retail or office space in a high-traffic commercial district.
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      View Details
    • $8,300 /Mo
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      Office and Warehouse Space Available

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      View Details
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    224 Lk Concord NE Rd
    Concord, NC 28025
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    Realmo Value Estimation

    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.

    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.

    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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