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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
4928 Park Rd Charlotte, NC 28209
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-5671958
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Aaapetservices Veterinary Clinic
-
AAA Animal Eye , Dental & Dermatology Clinic Veterinary Clinic
-
AAA Pet Surgery Center Veterinary Clinic
-
Rachel Kitson PLLC Physician Medical Clinic
-
Mobile Vet Clinic-Charlotte NC Veterinary Clinic
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
Rachel Kiston PLLC · 2 yrs held
Rachel Kiston PLLC
since 2024
Last sale
$590,000
4 recorded transactions
Zoning & alternative use
O-2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$675,000
+90.9%
Medical building
$395,000
+11.4%
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
$590,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$355,000
Current use
COMMERCIAL (GENERAL)
$675,000
Change: +91% · Conversion: Easy
MEDICAL BUILDING
$395,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $590k (May 24 2024)
Last sale anchor
$590k
May 24 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
$603 / 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
$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
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
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, NC
Zoning O-2 · permitted uses
O-2 · 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
$355,000
COMMERCIAL (GENERAL)
Est. value
$675,000
MEDICAL BUILDING
Est. value
$395,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL 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
1946
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
5
Bathrooms
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Rachel Kiston PLLC
Individual
Free & Clear · 2 yrs held
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2024
$590,000
Rachel Kiston PLLC
Michael J Thomann
Warranty Deed
—
Dec 9, 2014
—
4928 Park Rd LLC
Thomann,michael
Quit Claim Deed
related
—
Dec 20, 2012
$170,000
Michael J Thomann
Thompson,virginia F
Warranty Deed
related
$128,000 · Compass Bank
Sep 21, 2007
$240,000
Virginia F Thompson
Carrigan,daniel L
Warranty Deed
—
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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