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

    5624 Westpark Dr Charlotte, NC 28217-3552

    • Hotels
    • 139,012 SF
    • 3.96 lot acres
    OFF-MARKET
    Value Estimations
    $8,915,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0104212
    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

    • Hilton Charlotte Executive Park / Hotel & Motel
    • ATM / Atm
    • DoubleTree by Hilton South Charlotte Tyvola / Hotel & Motel
    • Encore / Rental Equipment Company / Tech Support Center

    Property Details for 5624 Westpark Dr

    Year built
    1986
    Lot size
    3.96 lot acres
    Property size
    139,012 SF
    Zone code
    I-2
    Property type
    Hotels
    APN
    16926117
    APU
    16926117

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,775,000
      6.5%
      $9,945,000
      7%
      $9,235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,733,000
      Market price range: $1.83M - $18.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8892
    Latitude
    35.1607
    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
    $109,395
    $787,900
    $14,126,200
    $14,914,100
    -
    $787,900
    $14,126,200
    $14,914,100

    Comparable in this City

    • Value Estimation
      $18,190,000
      258,746 SF

      212 Woodlawn Rd

      HOTEL • 258,746 SF
      212 Woodlawn Rd, Charlotte, NC 28217-2153
      View Details
    • Value Estimation
      $9,115,000
      109,441 SF

      8925 Red Oak Blvd

      HOTEL • 109,441 SF
      8925 Red Oak Blvd, Charlotte, NC 28217-5504
      View Details
    • Value Estimation
      $6,010,000
      72,059 SF

      6017 Tyvola Gln Cir

      HOTEL • 72,059 SF
      6017 Tyvola Gln Cir, Charlotte, NC 28217
      View Details
    • Value Estimation
      $8,490,000
      83,058 SF

      3928 Memorial Pkwy

      HOTEL • 83,058 SF
      3928 Memorial Pkwy, Charlotte, NC 28217-1524
      View Details
    • Value Estimation
      $8,365,000
      80,090 SF

      800 Arrowood Rd

      HOTEL • 80,090 SF
      800 Arrowood Rd, Charlotte, NC 28217-5006
      View Details
    • Value Estimation
      $9,010,000
      72,112 SF

      4900 Tryon St

      HOTEL • 72,112 SF
      4900 Tryon St, Charlotte, NC 28217-2404
      View Details

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    • Contact for pricing
      8,748 SF

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      Stand-alone office building in a rapidly growing area.
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      Shopton Road Commercial Land Available

      Commercial land for sale with convenient access to major highways.
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      Prime Land in Charlotte, NC

      High-visibility land with development potential near I-485 and retail.
      8151 Steele Creek Rd, Charlotte, NC 28217
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      Charlotte Home with Walk-In Closet

      Single-family home featuring a walk-in closet in Charlotte, North Carolina.
      8813 Gerren Ct, Charlotte, NC 28217
      View Details
    • $900,000
      78,582 SF

      Land at Signalized Intersection

      Land with high visibility at a signalized intersection.
      6438 S Tryon St, Charlotte, NC 28217
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    • Contact for pricing
      31,172 SF

      Charlotte Industrial Property with Storage

      Versatile industrial property with warehouse, showroom, office, and outdoor storage.
      600 Phillip Davis Dr, Charlotte, NC 28217
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    Similar Nearby for Lease

    • $12 SF/Yr
      51,480 SF

      Prime Flex Space in I-2 Zone

      51,480 SF Flex Space, 172 Parking Spaces
      4404 Stuart Andrew Blvd, Charlotte, NC 28217
      View Details
    • Contact for pricing
      10,000 SF

      South End Industrial Ground Lease

      ±0.53 Acres, 10,000 SF Warehouse
      305 Clanton Rd, Charlotte, NC 28217
      View Details
    • $12 SF/Yr
      55,931 SF

      Old Pineville Road Flex Space

      Charlotte flex space, 2,567 sq ft available.
      6006 Old Pineville Rd, Charlotte, NC 28217
      View Details
    • $11 SF/Yr
      93,175 SF

      Coffey Creek Business Center: Flex Space Available

      Airport Submarket Flex Space; 4 Units Available
      4107 Rose Lake Dr, Charlotte, NC 28217
      View Details
    • Contact for pricing
      6,083 SF

      Industrial Flex Space For Rent

      Functional industrial flex space in Charlotte with convenient highway access.
      1000-1022 Pressley Rd, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Land and Warehouse Opportunity

      Land and warehouse available for lease in growing area.
      4413 Yancey Rd, Charlotte, NC 28217
      View Details

    Property Visit Statistics

    • Visits by month
      11.8k
    • Visitors by month
      6.7k
    • Avg Time on site
      392 min
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    5624 Westpark Dr
    Charlotte, NC 28217-3552
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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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