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

    3101 Scott Futrell Dr Charlotte, NC 28208-2728

    • Motels
    • 55,602 SF
    • 2.91 lot acres
    OFF-MARKET
    Last Sale
    Aug 22, 2022
    $7,200,000
    Value Estimations
    $7,405,000
    Show details
    Cap Rate Potential
    3.5%
    Motels
    Location Intelligence
    Property ID
    US53-2278803
    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

    • Motels

    Property Details for 3101 Scott Futrell Dr

    Year built
    1970
    Lot size
    2.91 lot acres
    Property size
    55,602 SF
    Zone code
    I-1
    Property type
    Motels
    APN
    6119115
    APU
    6119115

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,420,000
      ML approach
      $7,470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,362,000
      Market price range: $6.11M - $12.3M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $8,570,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9186
    Latitude
    35.237
    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
    $45,411
    $1,135,300
    $5,055,700
    $6,191,000
    -
    $1,135,300
    $5,055,700
    $6,191,000

    Comparable in this City

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      $705,000
      13,545 SF

      4809 Wilkinson Blvd

      HOTEL/MOTEL • 13,545 SF
      4809 Wilkinson Blvd, Charlotte, NC 28208-5441
      View Details
    • Value Estimation
      $7,540,000
      51,861 SF

      3420 Queen City Dr

      MOTEL • 51,861 SF
      3420 Queen City Dr, Charlotte, NC 28208-3550
      View Details
    • Value Estimation
      $995,000
      33,404 SF

      4115 Glenwood Dr

      MOTEL • 33,404 SF
      4115 Glenwood Dr, Charlotte, NC 28208-2946
      View Details
    • Value Estimation
      $920,000
      8,628 SF

      4233 Wilkinson Blvd

      MOTEL • 8,628 SF
      4233 Wilkinson Blvd, Charlotte, NC 28208-5524
      View Details
    • Value Estimation
      $620,000
      5,723 SF

      5104 Wilkinson Blvd

      MOTEL • 5,723 SF
      5104 Wilkinson Blvd, Charlotte, NC 28208-5448
      View Details
    • Value Estimation
      $615,000
      34,536 SF

      3412 Queen City Dr

      MOTEL • 34,536 SF
      3412 Queen City Dr, Charlotte, NC 28208-3550
      View Details

    Similar Nearby for Sale

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    • $555,000

      Charlotte Land Ideal for Development

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    • $100,000

      Vacant Lot Near Uptown Charlotte

      Vacant lot near Uptown Charlotte with development potential.
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      Charlotte Land Infill Opportunity

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    Similar Nearby for Lease

    • $45 SF/Yr
      16,790 SF

      Furnished Office Space Available

      Move-in ready, fully furnished office space for rent.
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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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      46,400 SF

      Charlotte Warehouse with Office Space

      46,400 SF warehouse with office space available May 2025.
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    • Contact for pricing
      5,407 SF

      Retail Space Available for Lease

      Retail property available for lease in Charlotte, North Carolina.
      835 Gesco St, Charlotte, NC 28208
      View Details
    • $15 SF/Yr
      5,752 SF

      Warehouse Space with Conditioned Storage

      5,752 SF warehouse space with office and conditioned storage.
      2838 Queen City Dr, Charlotte, NC 28208
      View Details
    • Contact for pricing
      6,700 SF

      Industrial Land & Building For Lease

      8 Acres, 6,700 SF Industrial Space
      4901 Winston Container Rd, Charlotte, NC 28208
      View Details

    Property Visit Statistics

    • Visits by month
      4.5k
    • Visitors by month
      2.2k
    • Avg Time on site
      387 min
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    Charlotte, NC 28208-2728
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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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