Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,365,000
Drug stores
3080 Milton Rd Charlotte, NC 28215-5524
Individually Owned
7-yr Hold
Free & Clear
Property ID
US53-0821407
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Total area
14,072 SF
Lot
1.72 ac (74,880 SF)
Zoning code
B-2(CD)
APN
9922111
UPID
US53-0821407
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
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
-
Walgreens Pharmacy Pharmacy
-
Brandi A. Colby, Pharm Pharmacy
-
COVID-19 Drive-thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.63M
Comparable Approach
Comparable
$2.21M
Blend (final)
Blend
$3.37M
Owner & transaction history
Cove Debt Free Charlotte Pharm · 7 yrs held
Cove Debt Free Charlotte Pharm
since 2018
7 recorded transactions
Zoning & alternative use
B-2(CD) · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the district is to create and protect business areas for the retailing of merchandise, the provision of professional and business services and, in some cases, wholesaling services to serve a large population, this conditional district allow for the establishment of certain uses, which, because of their nature or scale, have particular impacts…
Zone name
General Business Conditional Zoning District
General category
COMMERCIAL
Zone area
468.01 ac
Source
Realmo
Top alternative use upside
Office building
$5.1M
+11.7%
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%
$3,925,000
6.5%
$3,625,000
7%
$3,365,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,560,000
Current use
OFFICE BUILDING
$5,090,000
Change: +12% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,205,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,665,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.37M
Range $3.03M – $3.70M · ±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
$239 / 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
$35,083
Tax year 2023
Assessed value
$4,783,000
Assessed 2024
Previous assessed
$5,085,100
-5.9% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,195,900
Assessed improvement
$2,587,100
Land market value
$2,195,900
Improvement market value
$2,587,100
Total market value
$4,783,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
14,072 SF
Lot
1.72 ac (74,880 SF)
Zoning code
B-2(CD)
APN
9922111
UPID
US53-0821407
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-2(CD) · Charlotte, NCZoning B-2(CD) · permitted uses
B-2(CD) · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the district is to create and protect business areas for the retailing of merchandise, the provision of professional and business services and, in some cases, wholesaling services to serve a large population, this conditional district allow for the establishment of certain uses, which, because of their nature or scale, have particular impacts on both the immediate area and the community as a whole
Zone name
General Business Conditional Zoning District
General category
COMMERCIAL
Zone area
468.01 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.6M
OFFICE BUILDING
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.7M
RETAIL STORES Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1998
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
Cove Debt Free Charlotte Pharm
Individual
Free & Clear · 7 yrs held
Mailing address
2958 COLUMBIA ST TORRANCE 90503RD XX
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2018
$4,785,000
Cove Debt Free Charlotte Pharm
8600 Amity Properties LLC
Grant Deed
—
Jun 14, 2017
—
8600 Amity Properties LLC
—
Deed
related
$2,000,000 · Flagstar Bk
Aug 21, 2007
—
8600 Amity Properties LLC
8600 Associates LP
Gift Deed
related
$2,200,000 · Ubs Real Estate Securities INC
Aug 13, 1998
$4,266,500
8600 Associates Ltd Partne
8600 Associates
Grant Deed
related
—
Nov 20, 1997
—
K D Sauder
Sauder,k D
Quit Claim Deed
related
—
May 1, 1996
—
Kenneth D Sauder
Sauder,kenneth D
Quit Claim Deed
related
—
—
—
8600 Amity Properties LLC
—
Deed Of Trust
related
$2,000,000 · Flagstar 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3080 Milton Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
