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Property profile & analytics
OFF-MARKET
Estimated value
$20,220,000
Hotels
321 Woodlawn Rd, Charlotte, NC 28217-2057
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-0777071
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1975
Total area
104,628 SF
Lot
3.62 ac (157,774 SF)
Zoning code
B-2
APN
16903301
UPID
US53-0777071
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
-
Courtyard Charlotte Airport/Billy Graham Parkway Hotel & Motel
-
KFC Restaurant
-
321 W. Woodlawn Road Parking Parking Lot & Garage
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.26M
Blend (final)
Blend
$20.22M
Owner & transaction history
Morning Star Hospitality LLC · 2 yrs held
Morning Star Hospitality LLC
since 2023
Last sale
$19.8M
7 recorded transactions
Zoning & alternative use
B-2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$31.3M
+93.9%
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
$21,120,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$16,130,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$31,275,000
Change: +94% · Conversion: Difficult
Blend value · Realmo final
$20.22M
Range $18.20M – $22.24M · ±10% · vs last sale $19.75M (Jul 28 2023)
Last sale anchor
$19.75M
Jul 28 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
$193 / 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
$130,019
Tax year 2023
Assessed value
$17,725,800
Assessed 2024
Previous assessed
$20,502,500
-13.5% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,997,600
Assessed improvement
$14,728,200
Land market value
$2,997,600
Improvement market value
$14,728,200
Total market value
$17,725,800
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1975
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
175
Total area
104,628 SF
Lot
3.62 ac (157,774 SF)
Zoning code
B-2
APN
16903301
UPID
US53-0777071
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-2 · Charlotte, NC
Zoning B-2 · permitted uses
B-2 · 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
HOTEL/MOTEL Current
Est. value
$16.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.3M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
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
1975
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
175
Lot
3.62 ac
Current owner
From public records · entity-resolved
Morning Star Hospitality LLC
Entity
Mailing address
3224 S US HWY 1ST 1, FORT PIERCE, FL 34982-6339
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2023
$19,750,000
Morning Star Hospitality LLC
Peg Charlotte Property LLC
Warranty Deed
—
Dec 5, 2022
—
Peg Charlotte Property LLC
—
Deed
related
$6,000,000 · Barbara Hiller Johnson
Sep 12, 2018
$23,600,000
Peg Charlotte Property LLC
Bre Charbilly LLC
Grant Deed
$59,675 · Acrc Lender
Jul 27, 2017
—
Bre Charbilly LLC
—
Grant Deed
related
$1,393,500,000 · Morgan Stanley Bk
Oct 22, 2013
$21,559,500
Bre Charbilly LLC
Sree Bg Hotel Partners LLC
Grant Deed
—
Aug 19, 2011
$6,000,000
Sree Bg Hotel Partners LLC
Pods Ventures LLC
Grant Deed
$4,500,000 · Trustatlantic Bank
Aug 17, 2011
$5,500,000
Pods Ventures LLC
Simpson,david T JR
Trustees Deed
related
—
Dec 28, 2007
—
Woodlawn Group LLC
—
Deed Of Trust
related
$9,000,000 · Trustatlantic Bank
Dec 17, 1993
$2,808,500
Boulevard Motel Corp
Unknown
Grant Deed
—
—
—
Sree Bg Hotel Partners LLC
—
Deed Of Trust
related
$8,000,000 · Natixis Real Estate Capital
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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