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Property profile & analytics
FOR LEASE
Office buildings
2401 Sardis Rd North Charlotte, NC 28227
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-2604821
For Lease
1 / 2
$33,365,000
2401 Sardis Rd North, Charlotte, NC 28227
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
164,949 SF
Lot
21.61 ac (941,201 SF)
Zoning code
B-1SCD
APN
19311201
UPID
US53-2604821
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
-
Maestro Health Financial Advisor Insurance Agency
-
Community Choices, Inc. Medical Clinic
-
Messer Financial Group Inc Insurance Agency
-
Community Alternatives Inc Charitable Organization Social Service Agency
-
INQ @ 2401 General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$35.67M
Blend (final)
Blend
$33.37M
Owner & transaction history
Lrh Holdings LLC
Lrh Holdings LLC
since 2025
Last sale
$24.2M
7 recorded transactions
Zoning & alternative use
B-1SCD · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$53.4M
+3.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$51,850,000
Current use
RETAIL STORES
$53,425,000
Change: +3% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$49,310,000
Change: -5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$42,985,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$33.37M
Range $30.03M – $36.70M · ±10% · vs last sale $24.20M (May 19 2025)
Last sale anchor
$24.20M
May 19 2025
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
$202 / 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
$135,487
Tax year 2023
Assessed value
$18,471,300
Assessed 2024
Previous assessed
$19,889,900
-7.1% YoY
Effective rate
0.73%
On assessed value
Assessed land
$6,578,000
Assessed improvement
$11,893,300
Land market value
$6,578,000
Improvement market value
$11,893,300
Total market value
$18,471,300
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
1989
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
10
Total area
164,949 SF
Lot
21.61 ac (941,201 SF)
Zoning code
B-1SCD
APN
19311201
UPID
US53-2604821
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-1SCD · Charlotte, NC
Zoning B-1SCD · permitted uses
B-1SCD · 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
OFFICE BUILDING Current
Est. value
$51.9M
RETAIL STORES
Est. value
$53.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$49.3M
AUTO REPAIR, GARAGE
Est. value
$43.0M
OFFICE BUILDING Current
RETAIL STORES
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
10
Lot
21.61 ac
Current owner
From public records · entity-resolved
Lrh Holdings LLC
Entity
Free & Clear · 0 yrs held
Mailing address
220 E 42ND ST, NEW YORK, NY 10017-5835
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2025
$24,200,000
Lrh Holdings LLC
G&i Viii Sardis Road 5 & 5b LLC
Special Warranty Deed
—
Oct 19, 2022
—
Community Alternatives INC
G&i Viii Sardis Road 5 & 5b LLC
Lease
—
Aug 16, 2022
—
Spectrum Southeast LLC
G&i Viii Sardis Road S & 5b LLC
Lease
—
Jan 21, 2022
—
Dra Advisors LLC
—
Deed
related
$16,070,000 · Hsbc Bank USA
Aug 21, 2017
—
G I Viii Sardis Rd 5 5b LLC
G I Viii Sardis Rd LLC
Special Warranty Deed
$16,070,000 · Hsbc Bank USA
Jul 17, 2015
$2,815,000
G & I Viii Sardis Road LLC
Kmwm LP
Grant Deed
—
Dec 1, 2009
$1,500,000
Kmwm
Spirit Master Funding IV LLC
Grant Deed
—
Oct 26, 2009
$3,500,000
Spirit Master Funding IV LLC
Spirit Master Funding III LLC
Warranty Deed
—
Oct 4, 2006
$60,000
Spirit Master Funding III LLC
Us Bk Corporate 1993 K-1
Grant Deed
—
Oct 4, 2006
—
Spirit Master Funding III LLC
Us Bk Corporate 1993 K-1
Quit Claim Deed
—
May 6, 2005
$4,500,000
Dr Securitized Lease Trust Pass-t
Wood,fred M JR
Trustees Deed
—
Jul 28, 2004
$4,500,000
Dr Securitized Lease Trust
Wood,fred M JR
Trustees Deed
—
Nov 9, 1993
$11,608,000
Holding L P Sardis
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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