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Property profile & analytics
OFF-MARKET
Estimated value
$13,395,000
Hotels
5700 Westpark Dr, Charlotte, NC 28217-3550
Trust Owned
8-yr Hold
Free & Clear
Property ID
US53-1332073
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1983
Total area
219,506 SF
Lot
9.26 ac (403,453 SF)
Zoning code
I-2
APN
16926106
UPID
US53-1332073
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
-
6201 Elgywood Ln Hotel & Motel
-
CMARC Association Or Organization
-
Tesla Destination Charger Electric Vehicle Charging Station
-
Sonesta Charlotte Executive Park Hotel & Motel
-
fashion the mind fashion the figure Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.71M
Comparable Approach
Comparable
$11.57M
Blend (final)
Blend
$13.40M
Owner & transaction history
Hpt Ihg-2 Properties Trust · 8 yrs held
Hpt Ihg-2 Properties Trust
since 2017
6 recorded transactions
Zoning & alternative use
I-2 · 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%
$17,015,000
6.5%
$15,705,000
7%
$14,585,000
Blend value · Realmo final
$13.40M
Range $12.06M – $14.73M · ±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
$61 / 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
$163,667
Tax year 2023
Assessed value
$22,313,100
Assessed 2024
Previous assessed
$35,652,900
-37.4% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,736,500
Assessed improvement
$20,576,600
Land market value
$1,736,500
Improvement market value
$20,576,600
Total market value
$22,313,100
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1983
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Units
300
Total area
219,506 SF
Lot
9.26 ac (403,453 SF)
Zoning code
I-2
APN
16926106
UPID
US53-1332073
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-2 · Charlotte, NC
Zoning I-2 · permitted uses
I-2 · 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.
Building & site characteristics
From public records
Year built
1983
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
300
Lot
9.26 ac
Current owner
From public records · entity-resolved
Hpt Ihg-2 Properties Trust
Trust
Free & Clear · 8 yrs held
Mailing address
PO BOX 460389, HOUSTON, TX 77056-8389
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2017
$44,000,000
Hpt Ihg-2 Properties Trust
Cp Charlotte LLC
Grant Deed
—
Jul 2, 2015
$22,500,000
Cp Charlotte LLC
Mam-charlotte Hotel LLC
Grant Deed
—
Nov 21, 2012
$19,600,000
Mam-charlotte Hotel LLC
Mason James L JR
Trustees Deed
related
—
Oct 10, 2005
—
Jer Charlotte Hotel LLC
Host Marriott LP
Quit Claim Deed
related
—
Jan 6, 1995
$14,500,000
Hmc Acquisition Properties
Hmc,acquisition
Grant Deed
related
—
Aug 30, 1991
$23,000,000
Travelers Insurance Co
Unknown
Grant Deed
—
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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