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    2409 Walkup Ave Monroe, NC 28110-3841

    • Warehouses
    • 11,200 SF
    • 5.50 lot acres
    OFF-MARKET
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5625411
    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.

    Current Use by Public Records

    • Randall Supply Inc / Car Repair And Maintenance Service

    Property Details for 2409 Walkup Ave

    Year built
    1982
    Lot size
    5.50 lot acres
    Property size
    11,200 SF
    Zone code
    G-I MONROE
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    09-149-062
    APU
    9149062

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $421,000
      Market price range: $318k - $851k

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.5067
    Latitude
    34.9901
    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
    $3,942
    $148,500
    $213,000
    $361,500
    -
    $148,500
    $213,000
    $361,500

    Comparable in this City

    • Value Estimation
      $270,000
      4,832 SF

      1610 Lynn St

      MINI-WAREHOUSE, STORAGE • 4,832 SF
      1610 Lynn St, Monroe, NC 28110-3621
      View Details
    • Value Estimation
      $280,000
      4,000 SF

      701 Sutherland Ave

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      701 Sutherland Ave, Monroe, NC 28110-3976
      View Details
    • Value Estimation
      $1,010,000
      194,706 SF

      Sutherland Ave

      MINI-WAREHOUSE, STORAGE • 194,706 SF
      Sutherland Ave, Monroe, NC 28110
      View Details
    • Value Estimation
      $490,000
      11,312 SF

      1902 Vly Pkwy

      MINI-WAREHOUSE, STORAGE • 11,312 SF
      1902 Vly Pkwy, Monroe, NC 28110-8585
      View Details
    • Value Estimation
      $270,000
      2,400 SF

      Morgan Ml Rd

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      Morgan Ml Rd, Monroe, NC 28110
      View Details
    • Value Estimation
      $270,000
      2,400 SF

      131 Normand St

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      131 Normand St, Monroe, NC 28110-3527
      View Details

    Similar Nearby for Sale

    • $3,050,000
      18,000 SF

      Functional Industrial Facility For Sale

      18,000 SF facility ideal for owner-users or investors.
      3213 Westwood Industrial Dr, Monroe, NC 28110
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    • Contact for pricing
      22,096 SF

      Industrial Warehouse with Outdoor Storage

      22,096 SF industrial warehouse with office and outdoor storage.
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    • $5,900,000
      54,800 SF

      Monroe Manufacturing/Warehouse Opportunity

      Two buildings on 4.71 acres in a growing industrial area.
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    • $5,900,000

      Light Industrial Land with Warehouse

      Almost 18 acres of light industrial land with existing warehouse.
      5522 Orr Rd, Monroe, NC 28110
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    • Contact for pricing
      3,969 SF

      Industrial Property with Long-Term Tenant

      Industrial property with long-term tenant and future growth potential.
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    • $4,950,000

      Monroe Warehouse Property For Sale

      64,544 SF warehouse on 13.13 acres in Monroe, NC.
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    Similar Nearby for Lease

    • Contact for pricing
      23,500 SF

      Monroe Industrial Complex for Lease

      23,500 SF industrial complex on 7.07 acres for lease.
      4519 Old Charlotte Hwy, Monroe, NC 28110
      View Details
    • $16 SF/Yr
      4,000 SF

      Industrial Space Near Highway 74

      2,000-4,000 SF industrial space for lease near Hwy 74.
      5923 Stockbridge Dr, Monroe, NC 28110
      View Details
    • $13 SF/Yr
      8,000 SF

      Monroe Warehouse Space Available

      8,000 sq ft warehouse space for lease in Monroe.
      2617 Executive Point Dr, Monroe, NC 28110
      View Details
    • $7,500,000
      60,000 SF

      Proposed Warehouse Near Highway 74

      60,000 SF warehouse with easy highway access in Monroe, NC.
      2900 Stitt St, Monroe, NC 28110
      View Details
    • $12 SF/Yr
      4,500 SF

      Versatile Industrial/Flex Unit for Lease

      4,500 SF industrial/flex unit with offices and roll-up door.
      202 Pedro St, Monroe, NC 28110
      View Details
    • Contact for pricing
      199,640 SF

      Monroe Warehouse Space Available

      199,640 SF warehouse with 36' clear height for lease.
      Morgan Mill Rd, Monroe, NC 28110
      View Details
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    2409 Walkup Ave
    Monroe, NC 28110-3841
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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.

    More about this property
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