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    Property profile & analytics

    2640 Tryon St Charlotte, NC 28203

    • Retail space
    • 4,546 SF
    • 0.52 lot acres
    For Sale
    View listing
    $1,895,000
    Last Sale
    Mar 31, 2023
    $1,275,000
    Value Estimations
    Cap Rate Potential
    5.6%
    Retail space
    Location Intelligence
    Property ID
    US53-0891851
    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

    • Retail space

    Property Details for 2640 Tryon St

    Year built
    1932
    Lot size
    0.52 lot acres
    Property size
    4,546 SF
    Zone code
    B1
    Property type
    Retail space
    APN
    14501101
    APU
    14501101

    Description

    This exceptional 4,546 square foot freestanding building presents a unique investment opportunity in Charlotte's vibrant South End. Located at 2640 South Tryon Street, this property boasts high visibility on a heavily trafficked thoroughfare near the intersection of Remount Road. The 0.51-acre lot offers significant potential for adaptive reuse, catering to a variety of commercial ventures. Currently vacant, this building is zoned B-1, allowing for flexible usage including retail, office, or general commercial purposes. The asking price is $1,895,000, translating to $416.85 per square foot. On-site parking is available, adding to the property's appeal. This prime location and versatile zoning make this an ideal investment for developers or businesses seeking a high-impact presence in a thriving area of Charlotte, North Carolina. The property's size and location make it a compelling option for those seeking a significant commercial presence in a rapidly developing neighborhood. This is a rare opportunity to acquire a substantial freestanding building in a highly desirable area of Mecklenburg County, with easy access to major transportation routes. The building's existing structure provides a solid foundation for immediate occupancy or extensive renovation, depending on the buyer's vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,365,000
      ML approach
      $1,330,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,270,000
      6.5%
      $1,170,000
      7%
      $1,085,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,433,000
      Market price range: $1.31M - $3.16M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,830,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8707
    Latitude
    35.2046
    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
    $7,761
    $1,052,900
    $5,200
    $1,058,100
    -
    $1,052,900
    $5,200
    $1,058,100

    Comparable in this City

    • Value Estimation
      $915,000
      3,851 SF

      Charlotte, NC 28203

      RETAIL STORES (PERSONAL SERVICES) • 3,851 SF
      Charlotte, NC 28203
      View Details
    • Value Estimation
      $2,400,000
      15,249 SF

      2230 Park Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,249 SF
      2230 Park Rd, Charlotte, NC 28203-6380
      View Details
    • Value Estimation by Request
      405 SF

      1617 Ss Blvd

      RETAIL STORES (PERSONAL SERVICES) • 405 SF
      1617 Ss Blvd, Charlotte, NC 28203-4725
      View Details
    • Value Estimation
      $2,910,000
      5,160 SF

      1501 Ee Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,160 SF
      1501 Ee Blvd, Charlotte, NC 28203-5819
      View Details
    • Value Estimation
      $2,060,000
      10,061 SF

      1443 Ss Blvd

      RETAIL STORES (PERSONAL SERVICES) • 10,061 SF
      1443 Ss Blvd, Charlotte, NC 28203-4211
      View Details
    • Value Estimation
      $1,045,000
      4,455 SF

      1212 Ss Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,455 SF
      1212 Ss Blvd, Charlotte, NC 28203-4215
      View Details

    Similar Nearby for Sale

    • $1,895,000
      4,546 SF

      South End Charlotte Retail/Office

      4,546 SF Freestanding Building, Vacant
      2640 Tryon St, Charlotte, NC 28203
      View Details
    • Contact for pricing
      5,441 SF

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      Prime location in Charlotte's vibrant South End entertainment district.
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      Dilworth Retail Space: Prime Location

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      Restaurant and Retail Space Available

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    2640 Tryon St
    Charlotte, NC 28203
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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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