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    Property profile & analytics

    3616 Michigan Ave Charlotte, NC 28215-2928

    • Office buildings
    • 4,480 SF
    • 0.67 lot acres
    OFF-MARKET
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1905147
    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

    • Gouch John B DDS / Dental Office
    • Hodge Leslie / Dental Office
    • Norton Joyce / Dental Office

    Property Details for 3616 Michigan Ave

    Year built
    1964
    Lot size
    0.67 lot acres
    Property size
    4,480 SF
    Zone code
    R-17MF
    Property type
    Office buildings
    APN
    9905110
    APU
    9905110

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,160,000
      6.5%
      $1,070,000
      7%
      $995,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,450,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7755
    Latitude
    35.2382
    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
    $5,486
    $465,700
    $282,200
    $747,900
    -
    $465,700
    $282,200
    $747,900

    Comparable in this City

    • Value Estimation by Request
      1,112 SF

      3616 Frontenac Ave

      OFFICE BUILDING • 1,112 SF
      3616 Frontenac Ave, Charlotte, NC 28215-2920
      View Details
    • Value Estimation
      $535,000
      2,579 SF

      7816 Pence Rd

      OFFICE BUILDING • 2,579 SF
      7816 Pence Rd, Charlotte, NC 28215-4324
      View Details
    • Value Estimation
      $13,835,000
      109,638 SF

      6608 Ew T Harris Blvd

      OFFICE BUILDING • 109,638 SF
      6608 Ew T Harris Blvd, Charlotte, NC 28215-5127
      View Details
    • Value Estimation by Request
      1,683 SF

      8011 Pence Rd

      OFFICE BUILDING • 1,683 SF
      8011 Pence Rd, Charlotte, NC 28215
      View Details
    • Value Estimation
      $1,670,000
      8,826 SF

      7401 The Plz

      OFFICE BUILDING • 8,826 SF
      7401 The Plz, Charlotte, NC 28215-1925
      View Details
    • Value Estimation by Request
      0.46 Acres

      Shamrock Dr

      OFFICE BUILDING • 0.46 Acres
      Shamrock Dr, Charlotte, NC 28215
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Development site suitable for hotel, office, or multifamily use.
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    • $5,999,000
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      Harrisburg Commercial Land Opportunity

      Almost 12 acres of commercial land in high-growth Harrisburg area.
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      Multifamily Development Opportunity in Charlotte

      Prime 0.47-acre parcel zoned for multifamily development near UNC Charlotte.
      4312 Tantilla Cir, Charlotte, NC 28215
      View Details
    • $559,700
      0.47 Acres

      Multifamily Development Opportunity in Charlotte

      Prime 0.47-acre parcel zoned for multifamily development near UNC Charlotte.
      4312 Tantilla Cir, Charlotte, NC 28215
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    • $124,900
      0.34 Acres

      Residential Land in Established Neighborhood

      Build-ready lot in Charlotte, NC, with no HOA.
      9409 Misenheimer Rd, Charlotte, NC 28215
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Available For Rent

      Approximately 1.5 acres available for rent as raw land.
      @ 485 Plz Rd / Rocky Riv Rd, Charlotte, NC 28215
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in Charlotte, North Carolina.
      5820 E W T Harris Blvd, Charlotte, NC 28215
      View Details
    • Contact for pricing

      East Charlotte Flex Business Park

      Office and flex space in East Charlotte's Hickory Grove.
      6600 E W.t. Harris Blvd, Charlotte, NC 28215
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    • Contact for pricing
      10,500 SF

      Retail Space Near Harris Teeter

      Retail property with excellent connectivity and high-traffic location.
      9810 Rocky River Rd, Charlotte, NC 28215
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    • Contact for pricing

      Food Lion Anchored Retail Center

      42,000 SF retail center with interstate visibility.
      8010 Cambridge Cmns Dr, Charlotte, NC 28215
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    • Contact for pricing

      6830 Orr Rd., Charlotte, NC 28215

      Warehouses
      6830 Orr Rd, Charlotte, NC 28215
      View Details

    Property Visit Statistics

    • Visits by month
      2.0k
    • Visitors by month
      1.3k
    • Avg Time on site
      35 min
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    3616 Michigan Ave
    Charlotte, NC 28215-2928
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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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