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Property profile & analytics
OFF-MARKET
Estimated value
$945,000
Distribution centers
550 Gulf Dr Charlotte, NC 28208-1310
Entity Owned
28-yr Hold
Free & Clear
Property ID
US53-1356671
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1973
Total area
10,000 SF
Lot
4.06 ac (176,810 SF)
Zoning code
I-1(CD)
APN
6311444
UPID
US53-1356671
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
-
Crosby Trucking Services Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$945k
Owner & transaction history
Crosco Company · 28 yrs held
Crosco Company
since 1997
1 recorded transaction
Zoning & alternative use
I-1(CD) · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The primary purpose of this light industrial district is to create and protect industrial areas for light manufacturing and the distribution of products at wholesale, this conditional district allow for the establishment of certain uses, which, because of their nature or scale, have particular impacts on both the immediate area and the community as a whole
Zone name
Light Industrial Conditional Zoning District
General category
INDUSTRIAL
Zone area
1,839.35 ac
Source
Realmo
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$920,000
Current use
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±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
$95 / 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
$7,637
Tax year 2023
Assessed value
$1,041,200
Assessed 2024
Previous assessed
$1,048,400
-0.7% YoY
Effective rate
0.73%
On assessed value
Assessed land
$594,700
Assessed improvement
$446,500
Land market value
$594,700
Improvement market value
$446,500
Total market value
$1,041,200
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
1
Total area
10,000 SF
Lot
4.06 ac (176,810 SF)
Zoning code
I-1(CD)
APN
6311444
UPID
US53-1356671
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-1(CD) · Charlotte, NCZoning I-1(CD) · permitted uses
I-1(CD) · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The primary purpose of this light industrial district is to create and protect industrial areas for light manufacturing and the distribution of products at wholesale, this conditional district allow for the establishment of certain uses, which, because of their nature or scale, have particular impacts on both the immediate area and the community as a whole
Zone name
Light Industrial Conditional Zoning District
General category
INDUSTRIAL
Zone area
1,839.35 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$920,000
WAREHOUSE, STORAGE Current
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
1973
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Lot
4.06 ac
Current owner
From public records · entity-resolved
Crosco Company
Entity
Free & Clear · 28 yrs held
Mailing address
PO BOX 28, MOUNT SIDNEY, VA 24467-0028
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 1997
$475,000
Crosco Company
Crosco Company
Grant Deed
related
—
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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