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Property profile & analytics
OFF-MARKET
Estimated value
$6,145,000
Strip malls
331 Kings Dr Charlotte, NC 28204
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-0617372
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Total area
8,715 SF
Lot
0.82 ac (35,585 SF)
Zoning code
B-1
APN
12522201
UPID
US53-0617372
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
$6.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$6.15M
Owner & transaction history
Alpha Omega Land Development INC · 2 yrs held
Alpha Omega Land Development INC
since 2024
Last sale
$6.1M
5 recorded transactions
Zoning & alternative use
B-1 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.0M
+131.1%
Restaurant
$5.6M
+113.8%
Office building
$3.9M
+50.0%
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
$6,145,000
ML approach
$6,145,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,020,000
Change: +131% · Conversion: Easy
RESTAURANT
$5,570,000
Change: +114% · Conversion: Difficult
OFFICE BUILDING
$3,910,000
Change: +50% · Conversion: Moderate
Blend value · Realmo final
$6.15M
Range $5.53M – $6.76M · ±10% · vs last sale $6.15M (Apr 25 2024)
Last sale anchor
$6.15M
Apr 25 2024
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
$705 / 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
$36,225
Tax year 2023
Assessed value
$4,938,700
Assessed 2024
Previous assessed
$4,977,100
-0.8% YoY
Effective rate
0.73%
On assessed value
Assessed land
$4,833,400
Assessed improvement
$105,300
Land market value
$4,833,400
Improvement market value
$105,300
Total market value
$4,938,700
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
14
Total area
8,715 SF
Lot
0.82 ac (35,585 SF)
Zoning code
B-1
APN
12522201
UPID
US53-0617372
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-1 · Charlotte, NC
Zoning B-1 · permitted uses
B-1 · 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
COMMERCIAL (GENERAL)
Est. value
$6.0M
RESTAURANT
Est. value
$5.6M
OFFICE BUILDING
Est. value
$3.9M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
14
Lot
0.82 ac
Current owner
From public records · entity-resolved
Alpha Omega Land Development INC
Entity
Free & Clear · 2 yrs held
Mailing address
1016 WAXHAW INDIAN TRL RD, MATTHEWS, NC 28104-6123
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2024
$6,145,000
Alpha Omega Land Development INC
Charlotte Midtown Investors LLC
Special Warranty Deed
—
May 31, 2018
—
Charlotte Midtown Invtrs LLC
Fhn Kings Drive Investors LLC
Quit Claim Deed
related
—
May 31, 2018
$5,300,000
Charlotte Midtown Invtrs LLC
Fhn Kings Drive Investors LLC
Grant Deed
—
Nov 17, 2015
$3,250,000
Fhn Kings Drive Investors LLC
Pau-jac INC
Grant Deed
$3,180,000 · Bank Of Nc
May 24, 2007
$9,975
City Of Charlotte
Pau-jac INC
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.
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