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Property profile & analytics
OFF-MARKET
Estimated value
$21,790,000
Office buildings
2709 Water Rdg Pkwy, Charlotte, NC 28217-4596
Individually Owned
10-yr Hold
Free & Clear
Property ID
US53-2053917
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
103,565 SF
Lot
5.6 ac (243,805 SF)
Zoning code
I-1(CD)
APN
14312128
UPID
US53-2053917
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
-
Carla Walkley Physician
-
Lumbermans Mutual Casualty Co Insurance Agency
-
Boyer David Insurance Agency
-
Globe Express Services Freight Service Logistics Company
-
Safety and Health Council of North Carolina Training Center Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.25M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$21.79M
Owner & transaction history
Reep-ofc Nine Water Ridge Nc L · 10 yrs held
Reep-ofc Nine Water Ridge Nc L
since 2015
5 recorded transactions
Zoning & alternative use
I-1(CD) · 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%
$28,435,000
6.5%
$26,250,000
7%
$24,375,000
Blend value · Realmo final
$21.79M
Range $19.61M – $23.97M · ±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
$210 / 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
$142,298
Tax year 2023
Assessed value
$19,399,800
Assessed 2024
Previous assessed
$20,321,800
-4.5% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,369,900
Assessed improvement
$17,029,900
Land market value
$2,369,900
Improvement market value
$17,029,900
Total market value
$19,399,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Units
1
Rooms
99
Total area
103,565 SF
Lot
5.6 ac (243,805 SF)
Zoning code
I-1(CD)
APN
14312128
UPID
US53-2053917
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-1(CD) · Charlotte, NC
Zoning I-1(CD) · permitted uses
I-1(CD) · 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
1990
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
1
Rooms
99
Lot
5.6 ac
Current owner
From public records · entity-resolved
Reep-ofc Nine Water Ridge Nc L
Individual
Free & Clear · 10 yrs held
Mailing address
51 MADISON AVE, NEW YORK, NY 10010-1603
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2015
—
Reep-ofc Nine Water Ridge Nc L
Reep-ofc Water Ridge Nc Holdco
Quit Claim Deed
related
—
Dec 22, 2015
$115,000,000
Reep-ofc Water Ridge Holdco Ll
Frdgs II Reo LLC
Grant Deed
—
Nov 20, 2013
$52,000,000
Fregs II Reo LLC
Lakepoint Joint Venture
Special Warranty Deed
—
May 15, 1992
$11,168,500
Lakepointe Joint Venture
Unknown
Grant Deed
—
—
—
Frdgs II Reo LLC
—
Loan Modification
related
$92,046,000 · Wells Fargo Bk
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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