Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5023 Wilkinson Blvd Charlotte, NC 28208-5445

    • Warehouses
    • 8,160 SF
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    Jun 19, 2020
    $50,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1669834
    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

    • Warehouses

    Property Details for 5023 Wilkinson Blvd

    Year built
    1940
    Lot size
    0.98 lot acres
    Property size
    8,160 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    11512113
    APU
    11512113

    Description

    This 5,760 square foot warehouse, located at 5023 Wilkinson Blvd in Charlotte, North Carolina, presents a compelling opportunity. Built in 1968, the property boasts a single-tenant occupancy and is currently vacant, offering immediate availability. The warehouse features a ceiling height ranging from 12 to 14 feet, providing ample vertical space for storage or operations. Three-phase power is readily available, catering to industrial needs. The property is zoned ML-1 and sits on a sizable lot, presenting potential for redevelopment. Its prime location less than a mile from Charlotte Douglas International Airport and in close proximity to major interstates offers exceptional accessibility and logistical advantages for businesses requiring convenient transportation links. The Mecklenburg County property (APN: 11512113) is ready for immediate occupancy or redevelopment, making it a versatile option for various industrial uses. The 5,760 square feet of space provides significant room for operations, storage, or future expansion. This property offers a unique blend of immediate usability and redevelopment potential in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9231
    Latitude
    35.2312
    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
    $5,147
    $506,400
    $195,300
    $701,700
    -
    $506,400
    $195,300
    $701,700

    Comparable in this City

    • Value Estimation
      $4,065,000
      121,675 SF

      5201 Terminal St

      WAREHOUSE, STORAGE • 121,675 SF
      5201 Terminal St, Charlotte, NC 28208-1249
      View Details
    • Value Estimation
      $3,435,000
      102,604 SF

      1000 Bond St

      WAREHOUSE, STORAGE • 102,604 SF
      1000 Bond St, Charlotte, NC 28208-1210
      View Details
    • Value Estimation
      $8,360,000
      88,606 SF

      4240 Ww Blvd

      WAREHOUSE, STORAGE • 88,606 SF
      4240 Ww Blvd, Charlotte, NC 28208-6426
      View Details
    • Value Estimation
      $9,235,000
      100,000 SF

      1100 Clarkson St

      WAREHOUSE, STORAGE • 100,000 SF
      1100 Clarkson St, Charlotte, NC 28208
      View Details
    • Value Estimation
      $620,000
      5,718 SF

      4601 Freedom Dr

      WAREHOUSE, STORAGE • 5,718 SF
      4601 Freedom Dr, Charlotte, NC 28208-1718
      View Details
    • Value Estimation
      $670,000
      6,484 SF

      1920 Freedom Dr

      WAREHOUSE, STORAGE • 6,484 SF
      1920 Freedom Dr, Charlotte, NC 28208-5251
      View Details

    Similar Nearby for Sale

    • $3,500,000
      11,480 SF

      Lower Tuck Redevelopment Opportunity

      Two buildings for sale in growing Lower Tuck neighborhood.
      1020 Tuckaseegee Rd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      16.20 Acres

      Charlotte Industrial Land - 16.2 Acres

      Prime I-2 zoned land, ideal for industrial development. Opportunity Zone.
      3600 Primrose Ave, Charlotte, NC 28208
      View Details
    • $4,900,000
      3.22 Acres

      Charlotte Industrial Land Assemblage

      Prime 6.234-acre site, I-2 zoning
      0 Eatonton & Newberry St Asseblage, Charlotte, NC 28208
      View Details
    • Contact for pricing
      16 SF

      Prime Industrial Asset For Sale

      Industrial property with redevelopment potential in active Charlotte corridor.
      1027 Berryhill Rd, Charlotte, NC 28208
      View Details
    • $395,000
      1.36 Acres

      West Charlotte Multifamily Land

      1.36 Acres, N2-B Zoning, High Traffic
      1800 West Blvd, Charlotte, NC 28208
      View Details
    • $555,000

      Charlotte Land Ideal for Development

      1.42-acre lot near Uptown Charlotte, zoned for multi-family dwellings.
      5115 Freedom Dr, Charlotte, NC 28208
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      46,400 SF

      Charlotte Warehouse with Office Space

      46,400 SF warehouse with office space available May 2025.
      3410 Oak Lake Blvd, Charlotte, NC 28208
      View Details
    • $15 SF/Yr
      5,752 SF

      Warehouse Space with Conditioned Storage

      5,752 SF warehouse space with office and conditioned storage.
      2838 Queen City Dr, Charlotte, NC 28208
      View Details
    • $8,700 /Mo

      Freestanding Brick Building for Lease

      ML-1 zoned building with office and light industrial spaces.
      1812 W Morehead St, Charlotte, NC 28208
      View Details
    • Contact for pricing
      172,740 SF

      Afton Ridge III Warehouse

      Charlotte, NC Industrial Warehouse - 172,740 SF
      6054 Gln Afton Blvd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      175,000 SF

      Charlotte Warehouse and Distribution Space

      175,000 SF warehouse with rail access in Charlotte.
      1531 Tar Heel Rd, Charlotte, NC 28208
      View Details
    • Contact for pricing
      24,674 SF

      Charlotte Warehouse - 24,674 SF

      Large warehouse space available for lease.
      3035-c Horseshoe Ln, Charlotte, NC 28208
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5023 Wilkinson Blvd
    Charlotte, NC 28208-5445
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.