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

    3315 Scott Futrell Dr Charlotte, NC 28208-3551

    • Hotels
    • 164,140 SF
    • 11.96 lot acres
    OFF-MARKET
    Value Estimations
    $13,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5746985
    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

    • Sheraton Charlotte Airport Hotel / Hotel / Meeting Planning Service
    • Oscar's Restaurant / American Restaurant
    • Charlotte Bachata Salsa Festival / Association / Organization
    • Encore / Event Technology Service / Audio Visual Consultant

    Property Details for 3315 Scott Futrell Dr

    Year built
    1985
    Lot size
    11.96 lot acres
    Property size
    164,140 SF
    Zone code
    I-1
    Property type
    Hotels
    APN
    6123229
    APU
    6123229

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,725,000
      6.5%
      $11,745,000
      7%
      $10,905,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $10,573,000
      Market price range: $2.44M - $18.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9227
    Latitude
    35.2376
    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
    $183,901
    $2,860,100
    $22,211,600
    $25,071,700
    -
    $2,860,100
    $22,211,600
    $25,071,700

    Comparable in this City

    • Value Estimation
      $4,820,000
      58,631 SF

      3055 Interstate 85th Service Rd

      HOTEL • 58,631 SF
      3055 Interstate 85th Service Rd, Charlotte, NC 28208-2713
      View Details
    • Value Estimation
      $6,700,000
      54,360 SF

      3127 Sloan Dr

      HOTEL • 54,360 SF
      3127 Sloan Dr, Charlotte, NC 28208-2447
      View Details
    • Value Estimation
      $14,675,000
      76,261 SF

      2770 Yorkmont Rd

      HOTEL • 76,261 SF
      2770 Yorkmont Rd, Charlotte, NC 28208-7324
      View Details
    • Value Estimation
      $5,665,000
      73,069 SF

      Charlotte, NC 28208

      HOTEL • 73,069 SF
      Charlotte, NC 28208
      View Details
    • Value Estimation
      $9,210,000
      94,113 SF

      2400 Cascade Pointe Blvd

      HOTEL • 94,113 SF
      2400 Cascade Pointe Blvd, Charlotte, NC 28208-6710
      View Details
    • Value Estimation
      $4,180,000
      75,388 SF

      2950 Oak Lk Blvd

      HOTEL • 75,388 SF
      2950 Oak Lk Blvd, Charlotte, NC 28208-7718
      View Details

    Similar Nearby for Sale

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      1.36 Acres

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    • $555,000

      Charlotte Land Ideal for Development

      1.42-acre lot near Uptown Charlotte, zoned for multi-family dwellings.
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    • $100,000

      Vacant Lot Near Uptown Charlotte

      Vacant lot near Uptown Charlotte with development potential.
      734 Dewolfe St, Charlotte, NC 28208
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    • $420,000
      0.15 Acres

      Charlotte Land Infill Opportunity

      Four adjacent lots near Uptown Charlotte and the airport.
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    • $619,900
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      New Construction Duplex in Charlotte

      New construction duplex with strong income potential in Charlotte, NC.
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      Charlotte Land For Sale

      Wooded lot between single family residences in Charlotte, North Carolina.
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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.
      2001 W Morehead St, Charlotte, NC 28208
      View Details
    • Contact for pricing
      6,522 SF

      Retail Space with High Traffic

      Retail space in Charlotte with high traffic and easy access.
      3019-3053 Freedom Dr, Charlotte, NC 28208
      View Details
    • Contact for pricing
      46,400 SF

      Charlotte Warehouse with Office Space

      46,400 SF warehouse with office space available May 2025.
      3410 Oak Lake Blvd, Charlotte, NC 28208
      View Details
    • 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
    • $350 /Mo
      12,000 SF

      Creative Coworking Space Available

      Modern coworking offices designed for teams, freelancers, and entrepreneurs.
      919 A Ave, Charlotte, NC 28208
      View Details

    Property Visit Statistics

    • Visits by month
      15.5k
    • Visitors by month
      9.1k
    • Avg Time on site
      430 min
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    Charlotte, NC 28208-3551
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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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