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Property profile & analytics
OFF-MARKET
Estimated value
$18,485,000
Garden apartment buildings
225 Cedar St, Charlotte, NC 28202-3700
Entity Owned
5-yr Hold
Property ID
US53-5484740
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2015
Total area
86,020 SF
Lot
1.23 ac (53,361 SF)
Zoning code
MUDDCD
APN
7814115
UPID
US53-5484740
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
-
Cedar Flats Apartment Building Apartment Complex
-
Best Movers US Moving Company
-
Korean American Culture Institute Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.27M
CAP Approach
CAP
$16.02M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.49M
Owner & transaction history
5670 Pennsylvania LLC · 5 yrs held
5670 Pennsylvania LLC
since 2021
Last sale
$18.3M
6 recorded transactions
Zoning & alternative use
MUDDCD · 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
$21,430,000
ML approach
$11,265,000
CAP Approach
CAP Return
Estimation
6%
$17,345,000
6.5%
$16,015,000
7%
$14,870,000
Blend value · Realmo final
$18.49M
Range $16.64M – $20.33M · ±10% · vs last sale $18.25M (Feb 5 2021)
Last sale anchor
$18.25M
Feb 5 2021
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
$215 / 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
$124,908
Tax year 2023
Assessed value
$17,029,000
Assessed 2024
Previous assessed
$18,517,400
-8.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$5,638,000
Assessed improvement
$11,391,000
Land market value
$5,638,000
Improvement market value
$11,391,000
Total market value
$17,029,000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2015
Heating
STEAM
Cooling
CENTRAL
Buildings
2
Stories
3
Bathrooms
4
Total area
86,020 SF
Lot
1.23 ac (53,361 SF)
Zoning code
MUDDCD
APN
7814115
UPID
US53-5484740
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDDCD · Charlotte, NC
Zoning MUDDCD · permitted uses
MUDDCD · 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
2015
Heating
STEAM
Cooling
Yes
Stories
3
Buildings
2
Bathrooms
4
Lot
1.23 ac
Current owner
From public records · entity-resolved
5670 Pennsylvania LLC
Entity
Mailing address
5150 OVERLAND AVE CULVER CITY 90230TH XX
Ownership since
2021
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
Feb 5, 2021
$182,500
5670 Pennsylvania LLC
The Boulevard At North Cedar Street
Special Warranty Deed
$10,980,000 · Cbre Multifamily Capital INC
Aug 23, 2017
—
Boulevard Of North Cedar Street L
—
Deed
related
$10,800,000 · Miscellaneous Ins Co
May 1, 2008
$500
Boulevard Of North Cedar Street L
Boulevard/233 North Cedar Stre
Quit Claim Deed
related
—
May 1, 2008
$1,079,500
The Boulevard At North Cedar Street
The Committee To Restore & Preserve
Special Warranty Deed
—
—
—
Boulevard Of North Cedar Street L
—
Deed Of Trust
related
$9,200,000 · Bank Of Nc
—
—
Boulevard Of North Cedar Street L
—
Deed Of Trust
related
$10,800,000 · Miscellaneous Ins Co
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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