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

    3700 Wilkinson Blvd Charlotte, NC 28208

    • Automotive properties
    • 1,818 SF
    • 0.58 lot acres
    For Sale
    View listing
    Last Sale
    Oct 06, 2022
    $900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0115091
    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

    • Fat Boy Tires & Auto Repair / Auto Repair Shop
    • Take 5 Oil Change / Auto Repair Shop

    Property Details for 3700 Wilkinson Blvd

    Year built
    1955
    Lot size
    0.58 lot acres
    Property size
    1,818 SF
    Zone code
    B2
    Property type
    Automotive properties
    APN
    6102827
    APU
    6102827

    Description

    This exceptional investment opportunity presents a 1,400 square foot, single-tenant net-leased auto shop located at 3700 Wilkinson Blvd, Charlotte, NC 28208. The property, built in 2023, sits on a 0.58-acre lot and boasts a 100% occupancy rate with Take 5 Oil Change as the tenant. The current lease, commencing April 1, 2024, and expiring March 31, 2039, offers a substantial remaining term of approximately 14.4 years. The lease includes four 5-year renewal options and features a built-in 10% rent increase every five years, ensuring consistent rental growth. The property generates a strong net operating income (NOI) of $120,000, resulting in an attractive 5.75% capitalization rate. This prime location on Wilkinson Boulevard (Hwy 74) benefits from high traffic volume (40,000 vehicles per day), connecting Charlotte's urban core to Charlotte Douglas International Airport. Its strategic position also provides easy access to major interstates I-85 (130,000 VPD) and I-77 (160,000 VPD), further enhancing its visibility and accessibility. This is a rare opportunity to acquire a well-positioned, high-performing NNN ground lease investment with significant long-term growth potential. The asking price is $2,085,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $930,000
      ML approach
      $950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $801,000
      Market price range: $277k - $801k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,255,000
      MEDICAL BUILDING
      $735,000
      RETAIL STORES
      $600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9028
    Latitude
    35.2252
    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
    $4,832
    $454,200
    $204,500
    $658,700
    -
    $454,200
    $204,500
    $658,700

    Comparable in this City

    • Value Estimation
      $785,000
      60,734 SF

      Charlotte, NC 28208

      PARKING GARAGE, PARKING STRUCTURE • 60,734 SF
      Charlotte, NC 28208
      View Details
    • Value Estimation
      $705,000
      108,068 SF

      1451 Bryant St

      PARKING GARAGE, PARKING STRUCTURE • 108,068 SF
      1451 Bryant St, Charlotte, NC 28208-5201
      View Details
    • Value Estimation by Request
      2,400 SF

      3837 Louisiana Ave

      AUTO REPAIR, GARAGE • 2,400 SF
      3837 Louisiana Ave, Charlotte, NC 28208-4743
      View Details
    • Value Estimation by Request
      960 SF

      2633 Holton Ave

      AUTO REPAIR, GARAGE • 960 SF
      2633 Holton Ave, Charlotte, NC 28208-4721
      View Details
    • Value Estimation
      $575,000
      7,360 SF

      1622 Parker Dr

      AUTO REPAIR, GARAGE • 7,360 SF
      1622 Parker Dr, Charlotte, NC 28208-6234
      View Details
    • Value Estimation by Request
      3,848 SF

      2624 Wilkinson Blvd

      AUTO REPAIR, GARAGE • 3,848 SF
      2624 Wilkinson Blvd, Charlotte, NC 28208-5618
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,400 SF

      New Take 5 Ground Lease

      NNN ground lease with a 15-year term in Charlotte, NC.
      3700 Wilkinson Blvd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      75,000 SF

      75,000 SF Building on 8.9 Acres

      75,000 SF building for sale on 8.9 acres.
      3150-3200 Freedom Dr, Charlotte, NC 28208
      View Details
    • $650,000

      Retail Space on Busy Corner

      Retail space on .50 acres with CG zoning.
      2215 West Blvd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      1,905 SF

      West End Retail Opportunity

      Single tenant building in booming West End Charlotte market.
      2928 Rozzelles Ferry Rd, Charlotte, NC 28208
      View Details
    • $439,900
      0.29 Acres

      Historic Charlotte Building Redevelopment Opportunity

      Charming historic building near Uptown Charlotte with redevelopment potential.
      4145 Gossett Ave, Charlotte, NC 28208
      View Details
    • $319,900
      0.48 Acres

      Approved Fourplex Project, Charlotte, NC

      Permitted fourplex project in prime Charlotte development zone.
      2831 Mccombs St, Charlotte, NC 28208
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,440 SF

      Retail Space with Patio

      Retail space for rent with 1,436 SF patio.
      800 Gesco St, Charlotte, NC 28208
      View Details
    • Contact for pricing
      34,697 SF

      City West Commons Retail Space

      Charlotte retail space, multiple units available.
      1520 West Blvd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      22,277 SF

      The Shops at Westerly Station

      Charlotte Retail Space Available Now
      3250 Wilkinson Blvd, 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
      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
    • Contact for pricing
      1,200 SF

      Retail Space in Charlotte Center

      1,200 SF retail space in shadow-anchored shopping center.
      3220 Wilkinson Blvd, Charlotte, NC 28208
      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.
    3700 Wilkinson Blvd
    Charlotte, NC 28208
    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.