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Property profile & analytics
FOR LEASE
Office buildings
4037 Independence Blvd, Charlotte, NC 28205
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-1150072
For Lease
1 / 18
$129-$17,646/Mo
4037 Independence Blvd, Charlotte, NC 28205
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Total area
36,696 SF
Lot
1.07 ac (46,609 SF)
Zoning code
MUDD-O
APN
13111110
UPID
US53-1150072
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.30M
Comparable Approach
Comparable
$7.49M
Blend (final)
Blend
$7.67M
Owner & transaction history
Ervin Building LLC · 7 yrs held
Ervin Building LLC
since 2019
5 recorded transactions
Zoning & alternative use
MUDD-O · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$11.0M
+14.0%
Retail stores
$10.0M
+3.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,075,000
6.5%
$9,300,000
7%
$8,635,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,620,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$10,970,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$9,990,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,565,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$7.67M
Range $6.90M – $8.43M · ±10%
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
$209 / 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
$49,379
Tax year 2023
Assessed value
$6,731,900
Assessed 2024
Effective rate
0.73%
On assessed value
Assessed land
$1,410,800
Assessed improvement
$5,321,100
Land market value
$1,410,800
Improvement market value
$5,321,100
Total market value
$6,731,900
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1962
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
1
Rooms
1
Total area
36,696 SF
Lot
1.07 ac (46,609 SF)
Zoning code
MUDD-O
APN
13111110
UPID
US53-1150072
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDD-O · Charlotte, NC
Zoning MUDD-O · permitted uses
MUDD-O · 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
OFFICE BUILDING Current
Est. value
$9.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.0M
RETAIL STORES
Est. value
$10.0M
AUTO REPAIR, GARAGE
Est. value
$9.6M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
AUTO REPAIR, GARAGE
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
1962
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
1
Rooms
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Ervin Building LLC
Entity
Free & Clear · 7 yrs held
Mailing address
136 MAIN ST, PINEVILLE, NC 28134-9475
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2024
—
The Ervin Building Landlord LLC
—
Deed
related
$11,900,000 · United Community Bank
Mar 31, 2021
—
The Ervin Building LLC
—
Deed
related
$9,500,000 · United Community Bank
Apr 11, 2019
—
Ervin Building LLC
Ervin Building LLC
Quit Claim Deed
related
—
Nov 30, 2018
—
Ervin Building LLC
Executive Building Co LLC
Quit Claim Deed
related
—
Nov 30, 2018
$750,000
Ervin Building LLC
Executive Building Co LLC
Grant Deed
$650,000 · Executive Building Co LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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