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    2400 Little Rock Rd Charlotte, NC 28214
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    Property profile & analytics

    2400 Little Rock Rd, Charlotte, NC 28214

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    • Drug stores
    • 11,200 SF
    • 2.17 lot acres
    For Lease
    $3,025,000
    View Listing →
    Retail Space Near Airport For Lease
    $3,025,000

    Retail Space Near Airport

    Former Walgreens location near Charlotte Douglas Airport, 11,189 SF.

    2400 Little Rock Road, Charlotte, NC 28214
    View Listing
    Property ID
    US53-0178621
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walgreens Pharmacy / Pharmacy
    • Western Union / Bank / Credit Union
    • higi / Physician
    • Walgreens / Pharmacy
    • Walgreens Photo / (Bike/Boat/Book/etc) Store

    Property Details for 2400 Little Rock Rd

    Year built
    1998
    Lot size
    2.17 lot acres
    Zone code
    B-1(CD)
    Property type
    Drug stores
    APN
    5534112
    APU
    5534112

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 30, 2018 — Rosemead & Longden LLC — Deed · related $1.5M · Bank Of Hemet
    Sep 29, 2005 $2,714,000 Rosemead & Longden LLC Fmj Little Rock LLC Warranty Deed $1.9M · 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 $1.5M · Bank Of Hemet
    — — Rosemead & Longden LLC — Deed Of Trust · related $1.5M · Bank Of Hemet

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,125,000
      6.5%
      $2,885,000
      7%
      $2,680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,349,000
      Market price range: $487k - $2.35M

    • 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

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9377
    Latitude
    35.2467
    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
    2023
    $24,116
    $1,671,400
    $1,616,400
    $3,287,800
    -
    $1,671,400
    $1,616,400
    $3,287,800

    Comparable in this City

    • Value Estimation
      $3,225,000
      12,226 SF

      9308 Kendall Dr

      DRUG STORE, PHARMACY
      9308 Kendall Dr, Charlotte, NC 28214-8737
      View Details
    • Value Estimation by Request
      2,406 SF

      2932 Mt Holly-Huntersville Rd

      Automotive properties
      2932 Mt Holly-Huntersville Rd, Charlotte, NC 28214
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    • Value Estimation by Request
      2,400 SF

      2932 Mt Holly Huntersville Rd

      CONVENIENCE STORE
      2932 Mt Holly Huntersville Rd, Charlotte, NC 28214-9396
      View Details
    • Value Estimation
      $890,000
      3,360 SF

      518 Valleydale Rd

      CONVENIENCE STORE
      518 Valleydale Rd, Charlotte, NC 28214-8717
      View Details
    • Value Estimation by Request
      2,400 SF

      8820 Wilkinson Blvd

      RETAIL STORES (PERSONAL SERVICES)
      8820 Wilkinson Blvd, Charlotte, NC 28214-8061
      View Details
    • Value Estimation by Request
      252 SF

      6120 Wilkinson Blvd

      RETAIL STORES (PERSONAL SERVICES)
      6120 Wilkinson Blvd, Charlotte, NC 28214
      View Details

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      Charlotte Industrial Opportunity

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      Commercial Land on Freedom Drive

      0.476 acres of commercial land on Freedom Drive.
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    • $750,000
      0.75 Acres

      Charlotte Commercial Corner Lot Opportunity

      High-volume corner lot suitable for retail, office, or residential development.
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    Similar Nearby for Lease

    • Contact for pricing
      2 SF

      Retail Space Near Airport

      Former Walgreens location near Charlotte Douglas Airport, 11,189 SF.
      2400 Little Rock Rd, Charlotte, NC 28214
      View Details
    • $15,550 /Mo
      27,007 SF

      Versatile Commercial Space, Charlotte, NC

      Spacious property suitable for diverse business concepts in high-traffic location.
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      25,000 SF

      Charlotte Shopping Center Space Available

      47,129 SF shopping center with high visibility and parking.
      7917-8001 Moores Chapel Rd, Charlotte, NC 28214
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      15.50 Acres Available For Rent

      15.50 acres available for QSR, medical, and retail.
      Mt. Holly Rd & Sonoma Vly Dr, Charlotte, NC 28214
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    • Contact for pricing
      155,400 SF

      Charlotte Manufacturing and Logistics Space

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      View Details
    View Listing
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    Charlotte, NC 28214
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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