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

    3840 Charles White Ln Lenoir, NC 28645-7560

    • Garden apartment buildings
    • 3,024 SF
    • 6.76 lot acres
    OFF-MARKET
    Value Estimations
    $455,000
    Show details
    Cap Rate Potential
    4.6%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US53-2076680
    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

    • Garden apartment buildings

    Property Details for 3840 Charles White Ln

    Year built
    1988
    Construction
    WOOD
    Lot size
    6.76 lot acres
    Property size
    3,024 SF
    Property type
    Garden apartment buildings
    APN
    07 9 1 25
    APU
    79125

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $455,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $350,000
      6.5%
      $320,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $586,000
      Market price range: $280k - $586k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.4315
    Latitude
    35.9115
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC 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
    0
    $0.00
    $85,300
    $356,600
    $441,900
    -
    $85,300
    $356,600
    $441,900

    Comparable in this City

    • Value Estimation
      $385,000
      2,788 SF

      710 Meredith Ct

      GARDEN APT, COURT APT (5+ UNITS) • 2,788 SF
      710 Meredith Ct, Lenoir, NC 28645-9449
      View Details
    • Value Estimation
      $455,000
      1,600 SF

      1409 Berkley SW St

      GARDEN APT, COURT APT (5+ UNITS) • 1,600 SF
      1409 Berkley SW St, Lenoir, NC 28645-6418
      View Details
    • Value Estimation
      $365,000
      3,208 SF

      512 Dogwood NE St

      GARDEN APT, COURT APT (5+ UNITS) • 3,208 SF
      512 Dogwood NE St, Lenoir, NC 28645-4461
      View Details
    • Value Estimation
      $355,000
      3,100 SF

      1540 Catawba Ter

      GARDEN APT, COURT APT (5+ UNITS) • 3,100 SF
      1540 Catawba Ter, Lenoir, NC 28645-7836
      View Details
    • Value Estimation
      $615,000
      6,806 SF

      432 Wilson NW St

      GARDEN APT, COURT APT (5+ UNITS) • 6,806 SF
      432 Wilson NW St, Lenoir, NC 28645-4366
      View Details
    • Value Estimation
      $575,000
      6,120 SF

      1004 Civic NW Ct

      GARDEN APT, COURT APT (5+ UNITS) • 6,120 SF
      1004 Civic NW Ct, Lenoir, NC 28645-6085
      View Details

    Similar Nearby for Sale

    • $759,900
      5,775 SF

      Restored Historic Building in Lenoir

      Restored 2-story commercial building in Lenoir's Historic District.
      118 Mulberry St, Lenoir, NC 28645
      View Details
    • $475,000
      3.21 Acres

      Lenoir Multifamily Investment Opportunity

      Multifamily property with house and rental trailers on 3.21 acres.
      2333 Cedar Rock Cir, Lenoir, NC 28645
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    • $275,000
      0.50 Acres

      Well-Kept Duplex in Lenoir, NC

      Duplex with two 2-bed/1-bath units in a prime location.
      4823 Calico Rd, Lenoir, NC 28645
      View Details
    • $365,000
      0.38 Acres

      Lenoir Triplex with Strong Income

      Well-maintained triplex in Lenoir, NC with immediate cash flow.
      711 Meredith Ct SW, Lenoir, NC 28645
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    • $299,900
      1,864 SF

      Garage with Apartments Investment Opportunity

      Garage with lift, compressor, paint booth, and two apartments.
      1317 &1319 Main St, Lenoir, NC 28645
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    • $1,249,000
      10.53 Acres

      Mountain Retreat with Income Potential

      Multigenerational mountain retreat with income potential in a gated community.
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    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      North Hill Plaza: Retail Opportunity

      Lenoir, NC Strip Center - Fully Vacant
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      View Details
    • $4 SF/Yr
      492,000 SF

      Lenoir, NC Industrial Warehouse Space

      Large warehouse, divisible spaces available.
      840 Complex St, Lenoir, NC 28645
      View Details
    • Contact for pricing

      Highway Frontage Commercial Land Parcel

      1.759 acre commercial land parcel with highway frontage.
      303-307 Blowing Rock Blvd, Lenoir, NC 28645
      View Details
    • $5,056 /Mo
      6,200 SF

      Industrial Building with Spray Booth

      6,741 SF industrial building with turnkey auto body potential.
      2308 Icenhour Ct, Lenoir, NC 28645
      View Details
    • Contact for pricing
      8,035 SF

      Medical Office Building For Lease

      Three-story medical office building near Caldwell Memorial Hospital.
      125 Hospital Ave NW, Lenoir, NC 28645
      View Details
    • $27,060,000
      179,760 SF

      Lenoir Warehouse Space Available

      Warehouse space in Lenoir, NC, with new roof.
      840 Complex Pl, Lenoir, NC 28645
      View Details
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    3840 Charles White Ln
    Lenoir, NC 28645-7560
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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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