Individually Owned Property summary
AI-generated overview
This exceptional single-story office building, situated on a 0.192-acre lot at 4928 Park Road in Charlotte, North Carolina, presents a rare opportunity for lease. Built in 1946 and extensively renovated in 2013, the 979-square-foot building offers two private office suites ideal for executive or medical practices. Currently, 282 square feet are vacant and ready for immediate occupancy. The property boasts convenient on-site parking and shared amenities including a reception area, kitchen, and one bathroom. Located in a high-traffic area on Park Road, this property enjoys excellent visibility and proximity to the Park Road Shopping Center and South Park. The building is zoned OFC (Office) and its Mecklenburg County APN is 17113116. This location benefits from being in a rapidly growing area with high household incomes, as noted by the local Chamber of Commerce. The property's single-tenant occupancy provides a streamlined and efficient environment for businesses seeking a well-maintained and conveniently located office space in a thriving Charlotte neighborhood. The address is 4928 Park Rd, Charlotte, NC 28209.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1946
Total area
979 SF
Lot
0.19 ac (8,367 SF)
Zoning code
O-2
APN
17113116
UPID
US53-5671958
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Veterinary Clinic
-
Veterinary Clinic
-
Veterinary Clinic
-
Physician Medical Clinic
-
Veterinary Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$547k
Blend (final)
Blend
$590k
Owner & transaction history
since 2024
Last sale
$590,000
4 recorded transactions
Zoning & alternative use
O-2 · Charlotte, NC
Top alternative use upside
Commercial (general)
$675,000
+90.9%
Medical building
$395,000
+11.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$590k
Value range
$531k – $649k
±10% around blend
Estimated value / SF
$603 / SF
Confidence
High
6 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
60
$531k
blend $590k
$649k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
979 SF
Lot area
0.19 ac
Year built
1946
Stories
1
APN
17113116
Zoning
O-2
Assessed value
$363,500
Annual tax
$2,666
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$618k
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.2 mi away · 1,012 SF
3.8 mi away · 1,118 SF
5.3 mi away · 1,088 SF
6.6 mi away · 720 SF
8.0 mi away · 990 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$590k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 859 sales
$362
+67%
County 1075 sales
$354
+70%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $603/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+91%
vs current-use indication
Medical Building
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
2.70%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$41k *
Last sale · May 2024
$590k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.53M
Move the market yield to see immediate price impact.
Value / SF
$1,562
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.20%2.70%3.20%
$37k
$1.69M
$1.38M
$1.16M
$41k
$1.88M
$1.53M
$1.29M
$45k
$2.07M
$1.68M
$1.42M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$663k
3.1 mi · Dec 2025 · $863/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,666
Tax year 2023
Assessed value
$363,500
Assessed 2024
Previous assessed
$363,500
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$302,400
Assessed improvement
$61,100
Land market value
$302,400
Improvement market value
$61,100
Total market value
$363,500
Applied tax rate
8.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1946
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
5
Bathrooms
1
Total area
979 SF
Lot
0.19 ac (8,367 SF)
Zoning code
O-2
APN
17113116
UPID
US53-5671958
Jurisdiction
MECKLENBURG
Zoning & alternative use
O-2 · Charlotte, NCZoning O-2 · permitted uses
O-2 · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1946
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
5
Bathrooms
1
Lot
0.19 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
O-2
Jurisdiction
Charlotte, NC
Recorded code
O-2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for O-2 in Charlotte, NC.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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