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

    2900 Wilkinson Blvd Charlotte, NC 28208-5624

    • Turn key restaurants
    • 1,508 SF
    • 0.58 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1726310
    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

    • Bar-B-Q King / Barbecue Restaurant / Fast Food Restaurant

    Property Details for 2900 Wilkinson Blvd

    Year built
    1961
    Lot size
    0.58 lot acres
    Property size
    1,508 SF
    Zone code
    B-2
    Property type
    Turn key restaurants
    APN
    6706804
    APU
    6706804

    Description

    This exceptional investment opportunity encompasses four parcels totaling 1.76 acres on bustling Wilkinson Blvd in Charlotte, NC. The property includes the location of the renowned BBQ King restaurant, established in 1961, a true Charlotte landmark. The combined frontage boasts 245.6 feet on Wilkinson Blvd and 255.54 feet on Weyland Avenue. Currently zoned CG (General Commercial), the property presents significant potential for redevelopment. The 2040 Comprehensive Plan designates the area for possible rezoning to a Transit-Oriented Development (TOD) or Community Activity Center (CAC) district, subject to city council approval. This prime location benefits from high traffic volume (32,679 vehicles daily) and proximity to numerous amenities, including a recently constructed Dunkin' Donuts, ABC Store, QT, 7-Eleven, Parker Veterinary Hospital, and Fire Department Station 10. The proposed Lynx SilverLine Light Rail will further enhance the area's accessibility and desirability. Parcel numbers are #06706804, #06706803, #06706806, and #06706816. This is a rare chance to acquire a significant piece of Charlotte's evolving commercial landscape, ideal for new development or expansion. The asking price is $3,900,000. The property is situated in an Opportunity Zone.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $239,000
      Market price range: $154k - $331k

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.889
    Latitude
    35.2246
    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
    $4,578
    $535,600
    $88,500
    $624,100
    -
    $535,600
    $88,500
    $624,100

    Comparable in this City

    • Value Estimation
      $925,000
      644 SF

      2732 Wilkinson Blvd

      RESTAURANT • 644 SF
      2732 Wilkinson Blvd, Charlotte, NC 28208-5620
      View Details
    • Value Estimation
      $230,000
      1,890 SF

      2753 Rozzelles Fry Rd

      RESTAURANT • 1,890 SF
      2753 Rozzelles Fry Rd, Charlotte, NC 28208-3232
      View Details
    • Value Estimation
      $325,000
      1,800 SF

      750 Morehead St

      RESTAURANT • 1,800 SF
      750 Morehead St, Charlotte, NC 28208
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    • Value Estimation
      $415,000
      3,444 SF

      2601 Freedom Dr

      RESTAURANT • 3,444 SF
      2601 Freedom Dr, Charlotte, NC 28208-3851
      View Details
    • Value Estimation
      $370,000
      3,608 SF

      2925 Yorkmont Rd

      RESTAURANT • 3,608 SF
      2925 Yorkmont Rd, Charlotte, NC 28208-7363
      View Details
    • Value Estimation
      $215,000
      1,160 SF

      2400 Tuckaseegee Rd

      RESTAURANT • 1,160 SF
      2400 Tuckaseegee Rd, Charlotte, NC 28208-4059
      View Details

    Similar Nearby for Sale

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      New Take 5 Ground Lease

      NNN ground lease with a 15-year term in Charlotte, NC.
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      16.20 Acres

      Charlotte Industrial Land - 16.2 Acres

      Prime I-2 zoned land, ideal for industrial development. Opportunity Zone.
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      Land Near Uptown, Airport

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      4,000 SF

      Retail Space on Wilkinson Boulevard

      Retail space with high visibility on a major thoroughfare.
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      22,277 SF

      The Shops at Westerly Station

      Charlotte Retail Space Available Now
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    • $38 SF/Yr
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      Retail Space with Patio

      Retail space for rent with 1,436 SF patio.
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      View Details
    • Contact for pricing
      6,522 SF

      Retail Space with High Traffic

      Retail space in Charlotte with high traffic and easy access.
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      View Details
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    Charlotte, NC 28208-5624
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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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