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Property profile & analytics
FOR LEASE
Drug stores
2400 Little Rock Rd Charlotte, NC 28214
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US53-0178621
For Lease
1 / 4
$3,025,000
2400 Little Rock Rd, Charlotte, NC 28214
View Listing →
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Total area
11,200 SF
Lot
2.17 ac (94,395 SF)
Zoning code
B-1(CD)
APN
5534112
UPID
US53-0178621
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
-
Walgreens Pharmacy Pharmacy
-
Western Union Bank Credit Union
-
higi Physician
-
Walgreens Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.89M
Comparable Approach
Comparable
$2.35M
Blend (final)
Blend
$3.03M
Owner & transaction history
Rosemead & Longden LLC · 20 yrs held
Rosemead & Longden LLC
since 2005
6 recorded transactions
Zoning & alternative use
B-1(CD) · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.5M
+24.4%
Office building
$4.1M
+11.7%
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%
$3,125,000
6.5%
$2,885,000
7%
$2,680,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,630,000
Current use
MEDICAL BUILDING
$4,515,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$4,050,000
Change: +12% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,350,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,920,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.03M
Range $2.72M – $3.33M · ±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
$270 / 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
$24,116
Tax year 2023
Assessed value
$3,287,800
Assessed 2024
Previous assessed
$3,332,300
-1.3% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,671,400
Assessed improvement
$1,616,400
Land market value
$1,671,400
Improvement market value
$1,616,400
Total market value
$3,287,800
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Lease
Year built
1998
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
9
Total area
11,200 SF
Lot
2.17 ac (94,395 SF)
Zoning code
B-1(CD)
APN
5534112
UPID
US53-0178621
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-1(CD) · Charlotte, NC
Zoning B-1(CD) · permitted uses
B-1(CD) · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$4.5M
OFFICE BUILDING
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$2.9M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
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
1998
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
9
Lot
2.17 ac
Current owner
From public records · entity-resolved
Rosemead & Longden LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
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
May 30, 2018
—
Rosemead & Longden LLC
—
Deed
related
$1,500,000 · Bank Of Hemet
Sep 29, 2005
$2,714,000
Rosemead & Longden LLC
Fmj Little Rock LLC
Warranty Deed
$1,872,660 · Citizens Bank & Trust Co
Jul 29, 1998
$2,170,000
Fmj,little Rock LLC
Fmj,little Rock
Grant Deed
related
—
Sep 15, 1997
$245,000
Rock Land Little
Little,rock Land
Grant Deed
related
—
—
—
Rosemead & Longden LLC
—
Deed Of Trust
related
$1,500,000 · Bank Of Hemet
—
—
Rosemead & Longden LLC
—
Deed Of Trust
related
$1,500,000 · Bank Of Hemet
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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