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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Office Spaces
428 4th St 8 Charlotte, NC 28202-2434
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-0767043
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1986
Total area
585 SF
Lot
0.35 ac (15,031 SF)
Zoning code
UMUD
APN
12502415
UPID
US53-0767043
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
-
John W. Hall, PhD, ABPP Physician Medical Clinic
-
Tom Stagg, LCSW Psychotherapist
-
Southern Elevator Group General Contractor Construction Company
-
Flex5 By PetroFitness Gym & Fitness Center
-
Milsaps & Bratton PLLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$600k
Owner & transaction history
Charlotte Bank Building LLC · 2 yrs held
Charlotte Bank Building LLC
since 2024
Last sale
$600,000
2 recorded transactions
Zoning & alternative use
UMUD · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$405,000
+18.0%
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
$600,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$405,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±10% · vs last sale $600k (Feb 14 2024)
Last sale anchor
$600k
Feb 14 2024
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
$1,026 / 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
$1,102
Tax year 2023
Assessed value
$150,200
Assessed 2024
Previous assessed
$150,200
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed improvement
$150,200
Improvement market value
$150,200
Total market value
$150,200
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1986
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
3
Total area
585 SF
Lot
0.35 ac (15,031 SF)
Zoning code
UMUD
APN
12502415
UPID
US53-0767043
Jurisdiction
MECKLENBURG
Zoning & alternative use
UMUD · Charlotte, NC
Zoning UMUD · permitted uses
UMUD · 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
COMMERCIAL (GENERAL)
Est. value
$405,000
COMMERCIAL (GENERAL)
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
1986
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
3
Lot
0.35 ac
Current owner
From public records · entity-resolved
Charlotte Bank Building LLC
Entity
Mailing address
32 ANN STB, CHARLESTON, SC 29403-6212
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2024
$600,000
Charlotte Bank Building LLC
Bridge Real Estate Holdings LLC
Warranty Deed
$420,000 · Southern First Bank NA
May 31, 2016
$250,000
Bridge R & E Holdings LLC
Sellers,carey A
Warranty Deed
related
$304,000 · Suntrust Bk
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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