Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    323 Lamar Ave Charlotte, NC 28204-2435

    • Garden apartment buildings
    • 29,672 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2021
    $5,075,000
    Value Estimations
    $5,525,000
    Show details
    Cap Rate Potential
    6%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US53-1088745
    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

    • Garden apartment buildings

    Property Details for 323 Lamar Ave

    Year built
    1961
    Lot size
    1.04 lot acres
    Property size
    29,672 SF
    Zone code
    O2
    Property type
    Garden apartment buildings
    APN
    12703710
    APU
    12703710

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,960,000
      ML approach
      $6,005,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,985,000
      6.5%
      $5,525,000
      7%
      $5,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8225
    Latitude
    35.2141
    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
    $36,643
    $3,511,500
    $1,484,100
    $4,995,600
    -
    $3,511,500
    $1,484,100
    $4,995,600

    Comparable in this City

    • Value Estimation
      $3,225,000
      36,918 SF

      908 Grn Trl Ln

      GARDEN APT, COURT APT (5+ UNITS) • 36,918 SF
      908 Grn Trl Ln, Charlotte, NC 28204-2186
      View Details
    • Value Estimation
      $1,840,000
      16,032 SF

      1107 Greenway Cres Ln

      GARDEN APT, COURT APT (5+ UNITS) • 16,032 SF
      1107 Greenway Cres Ln, Charlotte, NC 28204-2077
      View Details
    • Value Estimation
      $2,430,000
      22,289 SF

      707 Seigle Ave

      GARDEN APT, COURT APT (5+ UNITS) • 22,289 SF
      707 Seigle Ave, Charlotte, NC 28204-5001
      View Details
    • Value Estimation by Request
      39,810 SF

      2351 7th St

      GARDEN APT, COURT APT (5+ UNITS) • 39,810 SF
      2351 7th St, Charlotte, NC 28204
      View Details
    • Value Estimation by Request
      2,738 SF

      1732 Baxter St

      GARDEN APT, COURT APT (5+ UNITS) • 2,738 SF
      1732 Baxter St, Charlotte, NC 28204-3559
      View Details
    • Value Estimation by Request
      3,055 SF

      1437 7th St

      GARDEN APT, COURT APT (5+ UNITS) • 3,055 SF
      1437 7th St, Charlotte, NC 28204-2407
      View Details

    Similar Nearby for Sale

    • $510,000

      Renovated Townhome in Historic Cherry

      Move-in ready townhome near Queen's University and medical centers.
      222-50 S Torrence St, Charlotte, NC 28204
      View Details
    • $425,000
      1,397 SF

      Charming Home with Modern Features

      Beautifully designed home with stainless steel appliances and walk-in closet.
      1031 Skyline View Way, Charlotte, NC 28204
      View Details
    • $2,300,000

      Midtown Corner Lot Building

      One-story building in Midtown's medical corridor, suitable for various uses.
      301 N Caswell Rd, Charlotte, NC 28204
      View Details
    • $2,900,000
      6,214 SF

      Charlotte Office Condo - Myers Park

      Prime Office Condo, 6,214 SF, $2.9M
      200 Queens Rd, Charlotte, NC 28204
      View Details
    • $2,500,000
      6,226 SF

      Midtown Charlotte Commercial Building

      Prime Location, 6226 SF, Three Suites
      301 Caswell Rd, Charlotte, NC 28204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,040 SF

      Cavalaris Village Executive Office Space

      Upscale Charlotte office, 2,675 sq ft available.
      911 Morehead St, Charlotte, NC 28204
      View Details
    • $37 SF/Yr
      11,687 SF

      Charlotte Office Space For Rent

      Office space available for lease in Charlotte, North Carolina.
      1431 W Morehead St, Charlotte, NC 28204
      View Details
    • Contact for pricing
      3,545 SF

      Prime Space in Elizabeth, Charlotte

      Versatile space in a dynamic, accessible Charlotte neighborhood.
      1900 E 7Th St, Charlotte, NC 28204
      View Details
    • $545 /Mo
      233 SF

      Office Suites Near Uptown Charlotte

      Centrally located office suites near hospitals and major routes.
      1850 E 3Rd St, Charlotte, NC 28204
      View Details
    • Contact for pricing
      2,115 SF

      Retail Space Available For Rent

      Retail space available for rent in Charlotte, North Carolina.
      2115 E 7Th St, Charlotte, NC 28204
      View Details
    • Contact for pricing
      4,376 SF

      Charlotte Office Space: Plaza Midwood Gem

      Versatile office suites, prime location.
      821 Louise Ave, Charlotte, NC 28204
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    323 Lamar Ave
    Charlotte, NC 28204-2435
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.