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Property profile & analytics
OFF-MARKET
Estimated value
$9,450,000
Garden apartment buildings
5818 Westpark Dr, Charlotte, NC 28217-3741
Entity Owned
Free & Clear
Property ID
US53-0480608
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1984
Total area
29,480 SF
Lot
3.7 ac (161,303 SF)
Zoning code
I2
APN
16926104
UPID
US53-0480608
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
-
Elite Car Insurance Solutions Insurance Agency
-
Herbalife Nutrition Ind. Dist. (Bike/Boat/Book/etc) Store Pharmacy
-
Charlotte Concrete Company Construction Company General Contractor
-
Samuel Real Estate Agency Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.21M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.72M
Blend (final)
Blend
$9.45M
Owner & transaction history
5816 Westpark LLC
5816 Westpark LLC
since 2026
Last sale
$8.6M
6 recorded transactions
Zoning & alternative use
I2 · 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
$10,100,000
ML approach
$11,205,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.45M
Range $8.51M – $10.40M · ±10% · vs last sale $8.60M (Oct 25 2021)
Last sale anchor
$8.60M
Oct 25 2021
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
$321 / 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
$89,436
Tax year 2023
Assessed value
$12,193,100
Assessed 2024
Previous assessed
$19,509,400
-37.5% YoY
Effective rate
0.73%
On assessed value
Assessed land
$983,300
Assessed improvement
$11,209,800
Land market value
$983,300
Improvement market value
$11,209,800
Total market value
$12,193,100
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1984
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
12
Stories
2
Units
36
Total area
29,480 SF
Lot
3.7 ac (161,303 SF)
Zoning code
I2
APN
16926104
UPID
US53-0480608
Jurisdiction
MECKLENBURG
Zoning & alternative use
I2 · Charlotte, NC
Zoning I2 · permitted uses
I2 · 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
1984
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
12
Units
36
Lot
3.7 ac
Current owner
From public records · entity-resolved
5816 Westpark LLC
Entity
Free & Clear · 0 yrs held
Mailing address
850 MORRISON DR STE #575, CHARLESTON, SC 29403-7138
Ownership since
2026
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
Feb 27, 2026
$10,250,000
5816 Westpark LLC
Spoke Tyvola Owner LP
Special Warranty Deed
—
Feb 27, 2026
—
5816 Westpark LLC
Spoke Tyvola Owner LP
Quitclaim Deed
related
—
Oct 25, 2021
$8,600,000
Spoke Tyvola Owner LP
Westpark Charlotfe LLC
Special Warranty Deed
$9,750,000 · Latitude Management Real Estate Cap
Jul 5, 2018
$6,250,000
Westpark Charlotte LLC
Hv Charlotte Ventures LLC
Grant Deed
—
Dec 20, 2004
$3,585,000
Hv Charlotte Ventures LLC
Rfs Financing Ptshp
Grant Deed
$3,025,000 · Standard Insurance Co
—
—
Hv Charlotte Ventures LLC
—
Deed Of Trust
related
$3,150,000 · Standard Insurance Co
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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