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Property profile & analytics
OFF-MARKET
Estimated value
$4,510,000
Warehouses
3722 Monroe Rd Charlotte, NC 28205-7736
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-3732408
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
20,722 SF
Lot
1.22 ac (53,317 SF)
Zoning code
I-2
APN
15904109
UPID
US53-3732408
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
Current use
Occupant on record · Public records
-
Carolina Select Brands, LLC Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.80M
CAP Approach
CAP
$3.96M
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$4.51M
Owner & transaction history
Centerlane 3722 Monroe Road LLC · 2 yrs held
Centerlane 3722 Monroe Road LLC
since 2023
Last sale
$4.5M
7 recorded transactions
Zoning & alternative use
I-2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.2M
+120.9%
Retail stores
$5.6M
+101.2%
Office building
$5.4M
+93.7%
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
$4,810,000
ML approach
$4,795,000
CAP Approach
CAP Return
Estimation
6%
$4,280,000
6.5%
$3,955,000
7%
$3,670,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,805,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,195,000
Change: +121% · Conversion: Moderate
RETAIL STORES
$5,640,000
Change: +101% · Conversion: Moderate
OFFICE BUILDING
$5,435,000
Change: +94% · Conversion: Difficult
Blend value · Realmo final
$4.51M
Range $4.06M – $4.96M · ±10% · vs last sale $4.50M (Sep 29 2023)
Last sale anchor
$4.50M
Sep 29 2023
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
$218 / 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
$19,489
Tax year 2023
Assessed value
$2,657,000
Assessed 2024
Previous assessed
$2,695,700
-1.4% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,328,600
Assessed improvement
$1,328,400
Land market value
$1,328,600
Improvement market value
$1,328,400
Total market value
$2,657,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
RADIANT
Cooling
NONE
Stories
1
Total area
20,722 SF
Lot
1.22 ac (53,317 SF)
Zoning code
I-2
APN
15904109
UPID
US53-3732408
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-2 · Charlotte, NCZoning I-2 · permitted uses
I-2 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.2M
RETAIL STORES
Est. value
$5.6M
OFFICE BUILDING
Est. value
$5.4M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1999
Heating
RADIANT
Cooling
Yes
Stories
1
Lot
1.22 ac
Current owner
From public records · entity-resolved
Centerlane 3722 Monroe Road LLC
Entity
Mailing address
2820 SELWYN AVE STE #425, CHARLOTTE, NC 28209-2877
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
$4,500,000
Centerlane 3722 Monroe Road LLC
Reid Real Estate LLC
Special Warranty Deed
$2,925,000 · Townebank
Sep 29, 2023
—
Carolina Select Brands LLC
Centerlane 3722 Monroe Road LLC
Lease
—
Sep 16, 2021
—
Reids Real Estate LLC
—
Deed
related
$1,584,000 · Bank Of America NA
Oct 7, 2016
—
Reids Real Estate LLC
—
Deed
related
$1,400,000 · Paragon Commercial Bank
Dec 21, 2015
$1,385,000
Reids Real Estate LLC
St Associates LLC
Grant Deed
$1,073,288 · St Associates LLC
Jul 13, 1999
$345,000
Philip M Smith
Squires Realty I
Grant Deed
—
—
—
Reids Real Estate LLC
—
Deed Of Trust
related
$1,241,000 · Bank Of America
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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