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Property profile & analytics
OFF-MARKET
Estimated value
$33,315,000
High-rise multifamily apartments
255 Martin Luther King Blvd Charlotte, NC 28202-1981
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US53-0860545
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2009
Total area
436,546 SF
Lot
5.26 ac (229,213 SF)
Zoning code
UMUD
APN
7302406
UPID
US53-0860545
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$33.32M
Owner & transaction history
C & J Catalyst LLC · 15 yrs held
C & J Catalyst LLC
since 2011
4 recorded transactions
Zoning & alternative use
UMUD · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$76 / 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
$869,996
Tax year 2023
Assessed value
$118,608,900
Assessed 2024
Previous assessed
$145,679,300
-18.6% YoY
Effective rate
0.73%
On assessed value
Assessed land
$10,442,700
Assessed improvement
$108,166,200
Land market value
$10,442,700
Improvement market value
$108,166,200
Total market value
$118,608,900
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2009
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
3
Total area
436,546 SF
Lot
5.26 ac (229,213 SF)
Zoning code
UMUD
APN
7302406
UPID
US53-0860545
Jurisdiction
MECKLENBURG
Zoning & alternative use
UMUD · Charlotte, NC
Zoning UMUD · permitted uses
UMUD · 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
2009
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
3
Lot
5.26 ac
Current owner
From public records · entity-resolved
C & J Catalyst LLC
Entity
Mailing address
12200 NW 68TH CT, PARKLAND, FL 33076-3340
Ownership since
2011
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
Mar 31, 2011
$103,375,000
C & J Catalyst LLC
Novare Catalyst LLC
Grant Deed
$60,000,000 · Metropolitan Life Insurance
Jul 23, 2007
—
Novare Catalyst LLC
Novare Catalyst Investors LLC
Quit Claim Deed
related
$73,200,000 · Wachovia Bank NA
—
—
C & J Catalyst LLC
—
Deed Of Trust
related
$74,260,700 · M & T Realty Capital Corp
—
—
Novare Catalyst LLC
—
Deed Of Trust
related
$54,881,433 · Wells Fargo Bank
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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