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Property profile & analytics
OFF-MARKET
Estimated value
$8,485,000
Retail space
615 Morehead St Charlotte, NC 28202
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1320207
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1965
Total area
678,293 SF
Lot
1.47 ac (63,990 SF)
Zoning code
UMUD
APN
12517506
UPID
US53-1320207
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.49M
Owner & transaction history
Mod Clt Property LLC · 5 yrs held
Mod Clt Property LLC
since 2020
4 recorded transactions
Zoning & alternative use
UMUD · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$13 / 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
$509,496
Tax year 2023
Assessed value
$69,461,000
Assessed 2024
Previous assessed
$11,108,200
+525.3% YoY
Effective rate
0.73%
On assessed value
Assessed land
$11,108,200
Assessed improvement
$58,352,800
Land market value
$11,108,200
Improvement market value
$58,352,800
Total market value
$69,461,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1965
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
678,293 SF
Lot
1.47 ac (63,990 SF)
Zoning code
UMUD
APN
12517506
UPID
US53-1320207
Jurisdiction
MECKLENBURG
Zoning & alternative use
UMUD · Charlotte, NC
Zoning UMUD · permitted uses
UMUD · 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
1965
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
1.47 ac
Current owner
From public records · entity-resolved
Mod Clt Property LLC
Entity
Free & Clear · 5 yrs held
Mailing address
370 LEXINGTON AVE RM #700, NEW YORK, NY 10017-6589
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2025
—
Mod Clt Property LLC
—
Deed
related
$190,000,000 · Pcred II Lending IV LLC
Apr 11, 2022
—
Mod Clt Property LLC
—
Deed
related
$155,551,000 · Bank Of The Ozarks
Dec 29, 2020
—
Mod Clt Property LLC
615 Morehead Street LLC
Grant Deed
—
Dec 29, 2020
$12,800,000
Mod Clt Property LLC
615 Morehead Street LLC
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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