Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    609 28th St Charlotte, NC 28206-2558

    • Office buildings
    • 8,725 SF
    • 3.15 lot acres
    OFF-MARKET
    Value Estimations
    $1,410,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1530167
    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

    • Right Solution Truck Parking Lot / Truck Stop / Parking Lot
    • Optimus diesel repair / Truck Repair Shop
    • Javier Truck Repair / Mechanic

    Property Details for 609 28th St

    Year built
    1949
    Lot size
    3.15 lot acres
    Property size
    8,725 SF
    Zone code
    I2
    Property type
    Office buildings
    APN
    7907910
    APU
    7907910

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,843,000
      Market price range: $1.19M - $2.98M
      AI Estimate
      $1,097,000
      Market price range: $430k - $1.80M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,880,000
      Current use
      AUTO REPAIR, GARAGE
      $2,275,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8251
    Latitude
    35.2508
    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
    $11,454
    $1,502,500
    $59,000
    $1,561,500
    -
    $1,502,500
    $59,000
    $1,561,500

    Comparable in this City

    • Value Estimation by Request
      1,000 SF

      825 Hamilton St

      OFFICE BUILDING • 1,000 SF
      825 Hamilton St, Charlotte, NC 28206
      View Details
    • Value Estimation
      $1,415,000
      6,300 SF

      Charlotte, NC 28206

      OFFICE BUILDING • 6,300 SF
      Charlotte, NC 28206
      View Details
    • Value Estimation
      $1,615,000
      6,050 SF

      200 Atando Ave

      OFFICE BUILDING • 6,050 SF
      200 Atando Ave, Charlotte, NC 28206-1937
      View Details
    • Value Estimation
      $1,390,000
      7,788 SF

      3701 Graham St

      OFFICE BUILDING • 7,788 SF
      3701 Graham St, Charlotte, NC 28206-1628
      View Details
    • Value Estimation
      $10,680,000
      94,975 SF

      3001 Graham St

      OFFICE BUILDING • 94,975 SF
      3001 Graham St, Charlotte, NC 28206-3537
      View Details
    • Value Estimation
      $585,000
      3,539 SF

      3304 Robinson Cir

      OFFICE BUILDING • 3,539 SF
      3304 Robinson Cir, Charlotte, NC 28206-1925
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Dynamic Urban Redevelopment Opportunity

      76-acre mixed-use development with office, retail, and multifamily spaces.
      Cp North End, Charlotte, NC 28206
      View Details
    • $1,000,000
      0.63 Acres

      Charlotte Industrial Land - 0.63 Acres

      Prime Industrial Land, Zoned ML-2, $1M
      900 College St, Charlotte, NC 28206
      View Details
    • $480,000
      1,289 SF

      Prime Charlotte Business Opportunity

      High-growth area, auto spa tenant.
      2317 Statesville Ave, Charlotte, NC 28206
      View Details
    • $1,975,000

      Optimist Park Commercial Development Opportunity

      Prime commercial land near Uptown Charlotte and Optimist Hall.
      411 E 13Th St, Charlotte, NC 28206
      View Details
    • $1,595,000
      17,000 SF

      Charlotte Warehouse Space For Sale

      17,000 square foot warehouse space available in Charlotte, NC.
      2301 N Graham St, Charlotte, NC 28206
      View Details
    • $21,874,552

      Land in Mill District/Optimist Park

      Land for sale in The Mill District/Optimist Park, Charlotte.
      N Davidson St, Charlotte, NC 28206
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,225 SF

      Industrial Space with Ample Parking

      Three-building industrial complex with fenced security and ample parking.
      5100 Reagan Dr, Charlotte, NC 28206
      View Details
    • Contact for pricing
      2,314 SF

      Office Buildings and Spaces For Rent

      Office buildings and spaces available for rent.
      5108 Reagan Dr, Charlotte, NC 28206
      View Details
    • Contact for pricing
      12,000 SF

      North End Charlotte Office Space

      12,000 SF Office Building, 7 Suites
      2729 Tryon St, Charlotte, NC 28206
      View Details
    • Contact for pricing
      11,200 SF

      North End Charlotte Office Space

      11,200 SF Office Building, Renovated 2025
      2417 Tryon St, Charlotte, NC 28206
      View Details
    • Contact for pricing
      5,297 SF

      Creative Office and Retail Space

      Mixed-use development with creative office, retail, and multifamily units.
      4100 Raleigh St, Charlotte, NC 28206
      View Details
    • Contact for pricing
      1,200 SF

      Johnson Road Industrial Property

      ±5.33 Acres, 1,200 SF Building
      510 Johnson Rd, Charlotte, NC 28206
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    609 28th St
    Charlotte, NC 28206-2558
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.