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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    56 Tribune SW Ave Concord, NC 28025-5075

    • Garden apartment buildings
    • 9,690 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $1,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2191513
    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

    • Brown Magic LLC / Delivery Service

    Property Details for 56 Tribune SW Ave

    Year built
    1999
    Construction
    WOOD
    Lot size
    0.32 lot acres
    Property size
    9,690 SF
    Zone code
    RC
    Property type
    Garden apartment buildings
    APN
    5630 04 7520
    APU
    5630047520

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,585,000
      6.5%
      $1,465,000
      7%
      $1,360,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.5749
    Latitude
    35.4008
    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
    2024
    $6,187
    $50,000
    $571,160
    $621,160
    -
    $50,000
    $571,160
    $621,160

    Comparable in this City

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      $775,000
      7,584 SF

      101 Concord Chase Cir

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    • Value Estimation by Request
      4,530 SF

      15 Brookwood NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,530 SF
      15 Brookwood NE Ave, Concord, NC 28025-3205
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    • Value Estimation
      $1,055,000
      8,730 SF

      295 Hatley NE Cir

      GARDEN APT, COURT APT (5+ UNITS) • 8,730 SF
      295 Hatley NE Cir, Concord, NC 28025-3436
      View Details
    • Value Estimation by Request
      2,154 SF

      298 Harold Goodman SW Cir

      GARDEN APT, COURT APT (5+ UNITS) • 2,154 SF
      298 Harold Goodman SW Cir, Concord, NC 28025-5489
      View Details
    • Value Estimation
      $800,000
      13,560 SF

      49 Corban SW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 13,560 SF
      49 Corban SW Ave, Concord, NC 28025-5134
      View Details
    • Value Estimation
      $1,500,000
      10,551 SF

      169 Rosehaven SE Ct

      GARDEN APT, COURT APT (5+ UNITS) • 10,551 SF
      169 Rosehaven SE Ct, Concord, NC 28025-3595
      View Details

    Similar Nearby for Sale

    • $1,425,000

      Concord Multifamily Investment Opportunity

      Ten Class B apartments in high-growth Concord, near downtown.
      56 Tribune Ave SW, Concord, NC 28025
      View Details
    • New
      $499,999
      0.28 Acres

      Triplex Investment Near Downtown Concord

      Triplex with strong rental history near downtown Concord's amenities.
      374 Union St S, Concord, NC 28025
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    • $340,000
      0.18 Acres

      Turnkey Duplex in Downtown Concord

      Remodeled 2-bedroom duplex, ideal for investors or owner-occupants.
      266 Moore Dr NW, Concord, NC 28025
      View Details
    • $7,300,000
      42.38 Acres

      Concord Land: Prime Development Opportunity

      42-Acre Residential & Commercial Land in Concord, NC
      217 Old Airport Rd, Concord, NC 28025
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    • $200,000

      Wooded Lot with Creek View

      Private wooded land with Jenny Wolf creek view.
      000 Cline School Rd, Concord, NC 28025
      View Details
    • $39,900
      0.19 Acres

      Concord Buildable Lot Opportunity

      Buildable lot in convenient Concord location near downtown and amenities.
      229 Boger Ct SW, Concord, NC 28025
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      550,000 SF

      Carolina Mall Retail Space For Lease

      High-traffic Concord, NC retail space available.
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    • $2,350,000
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      Unique Downtown Concord Office Space

      Premier, fully furnished office space in downtown Concord.
      18 Cabarrus Ave W, Concord, NC 28025
      View Details
    • $15 SF/Yr
      1,920 SF

      Concord Carwash - Industrial Lease

      1920 sq ft Carwash, Flex Space Available
      91 Corban Ave, Concord, NC 28025
      View Details
    • Contact for pricing
      1,690 SF

      Downtown Concord Commercial Office/Retail Space

      Renovated 1,690 sq ft office/retail space in historic downtown Concord.
      159 Church St NE, Concord, NC 28025
      View Details
    • Contact for pricing
      7,500 SF

      Industrial Space at Gibson Mill

      Industrial space available for lease at Gibson Mill.
      320 Sign Dr NW, Concord, NC 28025
      View Details
    • $7 SF/Yr
      20,605 SF

      Former Mill Building For Lease

      Industrial space available for lease near major highways.
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      View Details
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    56 Tribune SW Ave
    Concord, NC 28025-5075
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    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
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