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Property profile & analytics
FOR SALE
Office Spaces
2923 S Tryon St Charlotte, NC 28203
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-0048781
For Sale
1 / 5
$795,000
2923 S Tryon St, Charlotte, NC 28203
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1955
Total area
3,020 SF
Lot
2.23 ac (97,095 SF)
Zoning code
MUDDO
APN
14701317
UPID
US53-0048781
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
$1.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.83M
Owner & transaction history
Laurel Path LLC · 3 yrs held
Laurel Path LLC
since 2023
Last sale
$1.8M
2 recorded transactions
Zoning & alternative use
MUDDO · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+31.4%
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
$1,845,000
ML approach
$1,835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,585,000
Current use
COMMERCIAL (GENERAL)
$2,085,000
Change: +31% · Conversion: Easy
RETAIL STORES
$1,520,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$1.83M
Range $1.64M – $2.01M · ±10% · vs last sale $1.81M (Jun 13 2023)
Last sale anchor
$1.81M
Jun 13 2023
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
$604 / 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
$4,953
Tax year 2023
Assessed value
$675,300
Assessed 2024
Previous assessed
$675,300
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed improvement
$675,300
Improvement market value
$675,300
Total market value
$675,300
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Year built
1955
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,020 SF
Lot
2.23 ac (97,095 SF)
Zoning code
MUDDO
APN
14701317
UPID
US53-0048781
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDDO · Charlotte, NC
Zoning MUDDO · permitted uses
MUDDO · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES
Est. value
$1.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1955
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
Laurel Path LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1083 RDG RUNNER RD, ROCK HILL, SC 29730-0109
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2023
$1,812,500
Laurel Path LLC
Rebas 2923 LLC
Special Warranty Deed
—
Jan 5, 2007
$285,000
Rebas 2923 LLC
Shea & Shea LLC
Warranty Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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