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    Property profile & analytics

    597 Polk St Pineville, NC 28134

    • Drive through restaurants
    • 2,634 SF
    • 0.48 lot acres
    For Lease
    View listing
    Last Sale
    Apr 06, 2020
    $1,850,000
    Value Estimations
    $1,975,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5743730
    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

    • Arby's / Restaurant / Take-out & Catering

    Property Details for 597 Polk St

    Year built
    1988
    Lot size
    0.48 lot acres
    Property size
    2,634 SF
    Zone code
    B-4
    Property type
    Drive through restaurants
    APN
    20508104
    APU
    20508104

    Description

    This exceptional single-tenant retail property, located at 597 N Polk St in Pineville, NC, presents a unique investment opportunity. The building, constructed in 1986, boasts a total of 2,672 square feet, all of which is currently vacant, offering immediate occupancy for a new tenant. Situated on a sizable 0.48-acre lot, the property provides ample space for potential expansion or outdoor amenities. The B-3 zoning allows for a wide range of commercial uses, providing flexibility for prospective buyers. The property's address is 597 N Polk St, Pineville, NC 28134, within Mecklenburg County. Its convenient location offers excellent visibility and accessibility, making it an ideal site for a variety of businesses. The entire building is available for lease, presenting a blank canvas for a new tenant to customize and establish their presence. This property is an excellent opportunity for investors seeking a strong foothold in the thriving Pineville market. The building's size and location make it suitable for a variety of retail concepts. The property's vacant status allows for immediate occupancy and customization to suit a new tenant's specific needs. The substantial lot size offers potential for future development or expansion. This is a rare opportunity to acquire a well-located, sizable retail property in a desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,120,000
      ML approach
      $2,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,788,000
      Market price range: $881k - $2.27M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,560,000
      Current use
      COMMERCIAL (GENERAL)
      $1,705,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pineville
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8858
    Latitude
    35.0913
    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
    $11,251
    $799,800
    $684,300
    $1,484,100
    -
    $799,800
    $684,300
    $1,484,100

    Comparable in this City

    • Value Estimation
      $2,495,000
      3,789 SF

      10000 Lee St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,789 SF
      10000 Lee St, Pineville, NC 28134-6537
      View Details
    • Value Estimation
      $505,000
      5,094 SF

      Pineville, NC 28134

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,094 SF
      Pineville, NC 28134
      View Details
    • Value Estimation by Request
      4,109 SF

      Pineville, NC 28134

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,109 SF
      Pineville, NC 28134
      View Details
    • Value Estimation by Request
      3,646 SF

      10645 Park Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,646 SF
      10645 Park Rd, Pineville, NC 28134
      View Details
    • Value Estimation by Request
      2,976 SF

      Pineville, NC 28134

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,976 SF
      Pineville, NC 28134
      View Details
    • Value Estimation by Request
      4,726 SF

      Pineville, NC 28134

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,726 SF
      Pineville, NC 28134
      View Details

    Similar Nearby for Sale

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      Rare opportunity to build in established 55+ community.
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      1.822 acres ideal for multifamily, medical, or retail.
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      Residential lot, ideal location, high visibility.
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    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Restaurant with Drive-Thru

      Second-generation restaurant with drive-thru in Pineville, North Carolina.
      Pineville, NC 28134
      View Details
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      83,526 SF

      Pineville Towne Market Retail Space

      Prime Retail Space, Pineville, NC
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      Class A Medical Office Space Available
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      6,240 SF

      Pineville Retail/Medical Space Available

      Retail/medical space available across from Atrium Health Pineville medical campus.
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      View Details
    • Contact for pricing
      2,672 SF

      Prime Pineville Retail Space

      2,672 SF Retail Building, 0.48 Acres
      597 Polk St, Pineville, NC 28134
      View Details
    • $25 SF/Yr
      2,520 SF

      Retail Space in Pineville, NC

      Retail space with showroom, storage, and high visibility.
      11523 Carolina Place Pkwy, Pineville, NC 28134
      View Details
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    Pineville, NC 28134
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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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