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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Turn key restaurants
401 9th St Charlotte, NC 28202-1972
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1991987
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Total area
2,914 SF
Lot
0.06 ac (2,411 SF)
Zoning code
UR-C
APN
7807415
UPID
US53-1991987
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
-
Alexander Michael's Restaurant
-
Anya C. Symmonett, MA Physician
-
Anya Symmonett Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$1.63M
Owner & transaction history
24th Street Partners LLC · 4 yrs held
24th Street Partners LLC
since 2022
Last sale
$1.6M
4 recorded transactions
Zoning & alternative use
UR-C · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+8.1%
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
$1,630,000
ML approach
$1,730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,860,000
Current use
COMMERCIAL (GENERAL)
$2,015,000
Change: +8% · Conversion: Easy
OFFICE BUILDING
$1,705,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.58M (Mar 16 2022)
Last sale anchor
$1.58M
Mar 16 2022
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
$559 / 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
$7,948
Tax year 2023
Assessed value
$1,083,600
Assessed 2024
Previous assessed
$1,083,600
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$482,600
Assessed improvement
$601,000
Land market value
$482,600
Improvement market value
$601,000
Total market value
$1,083,600
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Units
1
Rooms
3
Total area
2,914 SF
Lot
0.06 ac (2,411 SF)
Zoning code
UR-C
APN
7807415
UPID
US53-1991987
Jurisdiction
MECKLENBURG
Zoning & alternative use
UR-C · Charlotte, NC
Zoning UR-C · permitted uses
UR-C · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.7M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1900
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
1
Rooms
3
Lot
0.06 ac
Current owner
From public records · entity-resolved
24th Street Partners LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2923 FRST PARK DR, CHARLOTTE, NC 28209-1401
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2022
$1,580,000
24th Street Partners LLC
Mitro LLC
Warranty Deed
—
Feb 18, 2022
—
T&c Restaurants INC
Mitro LLC
Lease
—
Dec 22, 2003
—
Mitro LLC
Curry & Troiano
Grant Deed
$200,000 · A R Mathis
—
—
Mitro LLC
—
Loan Modification
related
—
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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