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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2437 Newberry St Charlotte, NC 28208-5417

    • Motels
    • 6,656 SF
    • 0.76 lot acres
    OFF-MARKET
    Last Sale
    Jun 24, 2020
    Value Estimations
    $415,000
    Show details
    Cap Rate Potential
    9.7%
    Motels
    Location Intelligence
    Property ID
    US53-0567495
    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

    • Newberry Studio Apartments / Apartment Building

    Property Details for 2437 Newberry St

    Year built
    1990
    Lot size
    0.76 lot acres
    Property size
    6,656 SF
    Zone code
    I2
    Property type
    Motels
    APN
    11513314
    APU
    11513314

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $515,000
      6.5%
      $475,000
      7%
      $440,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $429,000
      Market price range: $99.0k - $732k

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9298
    Latitude
    35.2299
    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
    $7,463
    $264,800
    $752,700
    $1,017,500
    -
    $264,800
    $752,700
    $1,017,500

    Comparable in this City

    • Value Estimation
      $705,000
      13,545 SF

      4809 Wilkinson Blvd

      HOTEL/MOTEL • 13,545 SF
      4809 Wilkinson Blvd, Charlotte, NC 28208-5441
      View Details
    • Value Estimation
      $7,540,000
      51,861 SF

      3420 Queen City Dr

      MOTEL • 51,861 SF
      3420 Queen City Dr, Charlotte, NC 28208-3550
      View Details
    • Value Estimation
      $1,005,000
      40,393 SF

      4419 Tuckaseegee Rd

      MOTEL • 40,393 SF
      4419 Tuckaseegee Rd, Charlotte, NC 28208-2501
      View Details
    • Value Estimation
      $405,000
      15,828 SF

      4526 Wilkinson Blvd

      MOTEL • 15,828 SF
      4526 Wilkinson Blvd, Charlotte, NC 28208-5531
      View Details
    • Value Estimation
      $4,955,000
      44,977 SF

      3415 Queen City Dr

      MOTEL • 44,977 SF
      3415 Queen City Dr, Charlotte, NC 28208-3549
      View Details
    • Value Estimation
      $6,000,000
      12,759 SF

      3200 Queen City Dr

      MOTEL • 12,759 SF
      3200 Queen City Dr, Charlotte, NC 28208-2731
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16.20 Acres

      Charlotte Industrial Land - 16.2 Acres

      Prime I-2 zoned land, ideal for industrial development. Opportunity Zone.
      3600 Primrose Ave, Charlotte, NC 28208
      View Details
    • $4,900,000
      3.22 Acres

      Charlotte Industrial Land Assemblage

      Prime 6.234-acre site, I-2 zoning
      0 Eatonton & Newberry St Asseblage, Charlotte, NC 28208
      View Details
    • $175,000
      0.35 Acres

      Land Near Uptown, Airport

      Commercial land near uptown and airport in Charlotte, NC.
      4220 Mckinley Rd, Charlotte, NC 28208
      View Details
    • $3,500,000
      11,480 SF

      Lower Tuck Redevelopment Opportunity

      Two buildings for sale in growing Lower Tuck neighborhood.
      1020 Tuckaseegee Rd, Charlotte, NC 28208
      View Details
    • $449,990
      1.26 Acres

      Charlotte Land Development Opportunity

      1.25+ acre land parcel near Uptown Charlotte for development.
      1104 Montcalm St, Charlotte, NC 28208
      View Details
    • Contact for pricing

      Land For Sale Charlotte

      Land available for sale at 2639 Wilkinson Blvd, Charlotte, NC.
      2639 Wilkinson Blvd, Charlotte, NC 28208
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      101,709 SF

      Charlotte Airport Flex Space

      100K+ SF Flex Space, I-85 Visibility
      2818 Queen City Dr, Charlotte, NC 28208
      View Details
    • Contact for pricing
      2,564 SF

      Charlotte Creative Office Space for Lease

      2,564 SF Single-Tenant Office in FreeMoreWest
      2427 Tuckaseegee Rd, Charlotte, NC 28208
      View Details
    • $20 SF/Yr
      1,500 SF

      Warehouse Space with Drive-In Doors

      Flex/industrial space with drive-in doors and ample parking.
      5245 Old Dowd Rd, Charlotte, NC 28208
      View Details
    • $1,200 /Mo

      Fenced Lot Near Airport

      Quarter-acre fenced lot, convenient to airport and highways.
      3601 Scott Futrell Dr, Charlotte, NC 28208
      View Details
    • Contact for pricing
      32,000 SF

      Office Space with Skyline Views

      Office space featuring modern design and sweeping city views.
      925 Tuckaseegee Rd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      30,669 SF

      Warehouse with Wilkinson Blvd Exposure

      Industrial warehouse with outside storage and ideal Charlotte location.
      4101 Wilkinson Blvd, Charlotte, NC 28208
      View Details
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    2437 Newberry St
    Charlotte, NC 28208-5417
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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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