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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Strip malls
2408 Central Ave Charlotte, NC 28205-5381
Entity Owned
16-yr Hold
Free & Clear
Property ID
US53-5430348
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1950
Total area
7,650 SF
Lot
0.58 ac (25,301 SF)
Zoning code
B-1
APN
12902238
UPID
US53-5430348
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
-
Haze Bar & Lounge Bar & Pub Nightclub
-
Eashaal collections Hair Salon Nail Salon
-
Crown Cleaners & Coin Laundry (Bike/Boat/Book/etc) Store
-
Flesh art tattoos Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.50M
Owner & transaction history
Radha Kreeshna LLC · 16 yrs held
Radha Kreeshna LLC
since 2009
4 recorded transactions
Zoning & alternative use
B-1 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,285,000
Current use
RETAIL STORES
$2,080,000
Change: -9% · Conversion: Easy
OFFICE BUILDING
$2,005,000
Change: -12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,995,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±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
$196 / 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
$11,027
Tax year 2023
Assessed value
$1,503,400
Assessed 2024
Previous assessed
$1,525,900
-1.5% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,227,900
Assessed improvement
$275,500
Land market value
$1,227,900
Improvement market value
$275,500
Total market value
$1,503,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1950
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
4
Total area
7,650 SF
Lot
0.58 ac (25,301 SF)
Zoning code
B-1
APN
12902238
UPID
US53-5430348
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-1 · Charlotte, NC
Zoning B-1 · permitted uses
B-1 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.3M
RETAIL STORES
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
OFFICE BUILDING
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
1950
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
4
Lot
0.58 ac
Current owner
From public records · entity-resolved
Radha Kreeshna LLC
Entity
Free & Clear · 16 yrs held
Mailing address
9001 BLUE RDG DR, INDIAN LAND, SC 29707-2509
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2009
—
Radha Kreeshna LLC
Patel,bharat M & Biraj B
Warranty Deed
—
Jun 12, 2008
$700,000
Bharat M Patel
Central Avenue Properties
Warranty Deed
$630,000 · Central Avenue Properties
Sep 11, 1996
—
Central Avenue Properties
—
Deed Of Trust
related
$105,100 · Central Carolina Bank & Trust
Oct 12, 1993
$207,000
Central Avenue Properties
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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