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Property profile & analytics
FOR LEASE
Retail space
501 E Morehead St Charlotte, NC 28202
Entity Owned
~
Est. High Equity
Property ID
US53-1378549
For Lease
1 / 2
$1,520,000
501 E Morehead St, Charlotte, NC 28202
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Total area
7,872 SF
Lot
0.39 ac (17,062 SF)
Zoning code
TOD-UC
APN
12517503
UPID
US53-1378549
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
$2.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.52M
Owner & transaction history
Taraj LLC
Taraj LLC
since 2026
7 recorded transactions
Zoning & alternative use
TOD-UC · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$2,195,000
6.5%
$2,030,000
7%
$1,885,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,355,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,050,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±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
$193 / 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
$22,576
Tax year 2023
Assessed value
$3,077,900
Assessed 2024
Previous assessed
$3,086,100
-0.3% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,864,800
Assessed improvement
$213,100
Land market value
$2,864,800
Improvement market value
$213,100
Total market value
$3,077,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1961
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
11
Total area
7,872 SF
Lot
0.39 ac (17,062 SF)
Zoning code
TOD-UC
APN
12517503
UPID
US53-1378549
Jurisdiction
MECKLENBURG
Zoning & alternative use
TOD-UC · Charlotte, NC
Zoning TOD-UC · permitted uses
TOD-UC · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
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
1961
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
11
Lot
0.39 ac
Current owner
From public records · entity-resolved
Taraj LLC
Entity
Mailing address
2101 SUPERIOR AVE E STE #300, CLEVELAND, OH 44114-2153
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2026
$3,075,000
Taraj LLC
Morehead Street Properties LLC
Special Warranty Deed
$2,635,000 · Pinnacle Bank
Nov 12, 2020
—
Morehead Street Properties LLC
501 Associates LLC
Grant Deed
—
Sep 8, 2020
—
Gary S Cruikshank
—
Deed
related
$500,000 · Wells Fargo Bk
Dec 4, 2019
—
Alan Simonini Homes LLC
—
Trustees Deed
related
$881,250 · Pinnacle Bk
Jun 5, 1997
—
Mh Associates Limited Partners
Erwin,mark W
Grant Deed
$2,200,000 · Nationwide Life Insurance
Jun 3, 1997
—
David Simonini Custom Homes
Erwin,mark W
Grant Deed
$300,000 · First Union National Bank
May 7, 1997
—
David Simonini Custom Homes
Erwin,mark W
Grant Deed
$10,000 · Courances Development
May 6, 1997
—
David Simonini Custom Homes
Erwin,mark W
Grant Deed
$52,500 · Courances Development
May 5, 1997
—
David Simonini Custom Homes
Erwin,mark W
Grant Deed
$50,000 · Courances Development Group
Apr 28, 1997
—
David A Simonini
Erwin,mark W
Grant Deed
$200,000 · First Union National Bank
Mar 14, 1997
—
David Simonini Custom Homes
Erwin,mark W
Grant Deed
$341,250 · Centura Bank
Nov 7, 1996
$610,000
501 Associates LLC
—
Grant Deed
related
$750,000 · Berkshire Life Insurance
Dec 15, 1995
$340,000
Mark W Erwin
—
Grant Deed
related
$650,000 · Nationsbank
—
—
Gary S Cruikshank
—
Deed Of Trust
related
$500,000 · Wells Fargo 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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