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Property profile & analytics
FOR LEASE
Office buildings
2401 Distribution St, Charlotte, NC 28203
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-0502977
For Lease
1 / 8
$5,700,000
2401 Distribution St, Charlotte, NC 28203
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Total area
25,326 SF
Lot
1.2 ac (52,185 SF)
Zoning code
I2
APN
12104204
UPID
US53-0502977
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
-
Community Food Rescue - Food Distribution Center Food Bank Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.42M
Comparable Approach
Comparable
$4.73M
Blend (final)
Blend
$5.70M
Owner & transaction history
2401 Distribution Development LLC · 5 yrs held
2401 Distribution Development LLC
since 2021
7 recorded transactions
Zoning & alternative use
I2 · 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%
$6,955,000
6.5%
$6,420,000
7%
$5,960,000
Blend value · Realmo final
$5.70M
Range $5.13M – $6.27M · ±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
$225 / 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
$54,473
Tax year 2023
Assessed value
$7,426,400
Assessed 2024
Previous assessed
$7,439,900
-0.2% YoY
Effective rate
0.73%
On assessed value
Assessed land
$6,026,600
Assessed improvement
$1,399,800
Land market value
$6,026,600
Improvement market value
$1,399,800
Total market value
$7,426,400
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1960
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Rooms
5
Total area
25,326 SF
Lot
1.2 ac (52,185 SF)
Zoning code
I2
APN
12104204
UPID
US53-0502977
Jurisdiction
MECKLENBURG
Zoning & alternative use
I2 · Charlotte, NC
Zoning I2 · permitted uses
I2 · 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
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
5
Lot
1.2 ac
Current owner
From public records · entity-resolved
2401 Distribution Development LLC
Entity
Mailing address
2820 SELWYN AVE #616, CHARLOTTE, NC 28209-1785
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2025
—
401 Distribution Development LLC
—
Deed
related
$9,315,000 · United Bank
Jun 28, 2021
$5,400,000
2401 Distribution Development LLC
Adrian Bruce Parker
Special Warranty Deed
$6,658,000 · First Carolina Bank
Jun 28, 2021
—
2401 Distribution Development LLC
Adrian Bruce Parker
Deed
—
Apr 26, 2021
—
Adrian Bruce Parker
City Of Charlotte
Deed
—
Nov 13, 2017
—
Adrian Bruce Parker
—
Deed
related
$500,000 · Wells Fargo Bank NA
Jun 17, 1999
$576,500
Adrian Bruce Parker
Parker Medical A
Grant Deed
related
—
Jun 6, 1991
$250,000
Parker Medical Associates
Unknown
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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