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

    4651 Charlotte Park Dr Charlotte, NC 28217-1956

    • Office buildings
    • 76,061 SF
    • 4.95 lot acres
    OFF-MARKET
    Last Sale
    Oct 04, 2021
    $7,000,000
    Value Estimations
    $7,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5678706
    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

    • Tranquility Point Therapeutic Massage / Alternative Medicine Practice / Spa & Massage Center
    • SKA Consulting Engineers, Inc. / Concrete Contractor / Roofing Contractor
    • USHealth Advisors / Insurance Agency
    • Charlotte Park / Business Service Center / Corporate Office
    • Brooklyn Watkins / Insurance Agency

    Property Details for 4651 Charlotte Park Dr

    Year built
    1981
    Lot size
    4.95 lot acres
    Property size
    76,061 SF
    Zone code
    B-2
    Property type
    Office buildings
    APN
    14528202
    APU
    14528202

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,000,000
      ML approach
      $8,795,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,668,000
      Market price range: $1.85M - $15.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8899
    Latitude
    35.1819
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC 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
    2023
    $89,912
    $3,587,800
    $8,670,200
    $12,258,000
    -
    $3,587,800
    $8,670,200
    $12,258,000

    Comparable in this City

    • Value Estimation
      $22,370,000
      108,472 SF

      4135 Southstream Blvd

      OFFICE BUILDING • 108,472 SF
      4135 Southstream Blvd, Charlotte, NC 28217-4523
      View Details
    • Value Estimation
      $10,825,000
      61,223 SF

      4918 Ss Blvd

      OFFICE BUILDING • 61,223 SF
      4918 Ss Blvd, Charlotte, NC 28217
      View Details
    • Value Estimation
      $11,130,000
      53,918 SF

      2110 Water Rdg Pkwy

      OFFICE BUILDING • 53,918 SF
      2110 Water Rdg Pkwy, Charlotte, NC 28217-4536
      View Details
    • Value Estimation
      $21,790,000
      103,565 SF

      2709 Water Rdg Pkwy

      OFFICE BUILDING • 103,565 SF
      2709 Water Rdg Pkwy, Charlotte, NC 28217-4596
      View Details
    • Value Estimation by Request
      61,170 SF

      5600 77th Ctr Dr

      OFFICE BUILDING • 61,170 SF
      5600 77th Ctr Dr, Charlotte, NC 28217-2717
      View Details
    • Value Estimation by Request
      84,283 SF

      5250 77th Ctr Dr

      OFFICE BUILDING • 84,283 SF
      5250 77th Ctr Dr, Charlotte, NC 28217-0715
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,748 SF

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      Stand-alone office building in a rapidly growing area.
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    • $12,950,000
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      50,000 SF single-tenant office building with easy highway access.
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      511,979 SF

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      511,979 SF Class A office portfolio in Charlotte, NC.
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    • $2,800,000
      9.47 Acres

      Charlotte Office Building - 9 Acres

      Prime Charlotte location, high development potential.
      218 Sequoia Pl, Charlotte, NC 28217
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    • $800,000

      Shopton Road Commercial Land Available

      Commercial land for sale with convenient access to major highways.
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    • $3,000,000
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      Prime Land in Charlotte, NC

      High-visibility land with development potential near I-485 and retail.
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    Similar Nearby for Lease

    • Contact for pricing
      159,480 SF

      Charlotte Office Space for Lease

      Office building with 159,480 square feet available for rent.
      2801 W Tyvola Rd, Charlotte, NC 28217
      View Details
    • $11 SF/Yr
      93,175 SF

      Coffey Creek Business Center: Flex Space Available

      Airport Submarket Flex Space; 4 Units Available
      4107 Rose Lake Dr, Charlotte, NC 28217
      View Details
    • $24 SF/Yr
      3,028 SF

      Charlotte Office Portfolio For Rent

      Seven-building office portfolio in Charlotte's Airport submarket with various amenities.
      4944 Parkway Plaza Blvd, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Serviced office space available for rent in Charlotte, North Carolina.
      1809 Cross Beam Dr, Charlotte, NC 28217
      View Details
    • New
      $1,550 /Mo
      10,454 SF

      Versatile Commercial Space in Charlotte

      High-visibility commercial space suitable for retail, office, or medical use.
      4625 Nations Crossing Rd, Charlotte, NC 28217
      View Details
    • $28 SF/Yr
      159,755 SF

      Six Coliseum Centre Office Suites

      Executive Office Space, Charlotte Airport
      2815 Coliseum Centre Dr, Charlotte, NC 28217
      View Details
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    4651 Charlotte Park Dr
    Charlotte, NC 28217-1956
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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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