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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Warehouses
612 Charles Ave Charlotte, NC 28205-1040
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-0959004
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Total area
7,640 SF
Lot
0.23 ac (9,947 SF)
Zoning code
TOD-NC
APN
8306612
UPID
US53-0959004
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
-
Allied Sheet Metal Works, Inc. Production Facility Metal Fabrication Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$911k
Blend (final)
Blend
$720k
Owner & transaction history
Charles Avenue Properties LLC · 7 yrs held
Charles Avenue Properties LLC
since 2018
1 recorded transaction
Zoning & alternative use
TOD-NC · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Transit Neighborhood Center Zoning District is intended for use in existing or future transit station areas and near streetcar stops as a transition from a higher intensity TOD-UC Zoning District to adjacent existing neighborhoods, or where the rehabilitation and reuse of existing structures is important to preserving the character of established neighbo…
Zone name
Transit Oriented Development Neighborhood Center Zoning District
General category
UNKNOWN
Zone area
301.32 ac
Source
Realmo
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,035,000
Current use
Blend value · Realmo final
$720k
Range $648k – $792k · ±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
$94 / 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
$5,864
Tax year 2023
Assessed value
$799,400
Assessed 2024
Previous assessed
$819,500
-2.5% YoY
Effective rate
0.73%
On assessed value
Assessed land
$536,300
Assessed improvement
$263,100
Land market value
$536,300
Improvement market value
$263,100
Total market value
$799,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
1
Total area
7,640 SF
Lot
0.23 ac (9,947 SF)
Zoning code
TOD-NC
APN
8306612
UPID
US53-0959004
Jurisdiction
MECKLENBURG
Zoning & alternative use
TOD-NC · Charlotte, NCZoning TOD-NC · permitted uses
TOD-NC · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Transit Neighborhood Center Zoning District is intended for use in existing or future transit station areas and near streetcar stops as a transition from a higher intensity TOD-UC Zoning District to adjacent existing neighborhoods, or where the rehabilitation and reuse of existing structures is important to preserving the character of established neighborhoods
Zone name
Transit Oriented Development Neighborhood Center Zoning District
General category
UNKNOWN
Zone area
301.32 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.0M
WAREHOUSE, STORAGE Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Charles Avenue Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
16333 TERRY LN, HUNTERSVILLE, NC 28078-9390
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2018
—
Charles Avenue Properties LLC
Herndon,michael D
Warranty 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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