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Property profile & analytics
FOR LEASE
Office buildings
619 S Cedar St Charlotte, NC 28202
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-0457252
For Lease
1 / 2
$33 SF/Yr
619 S Cedar St, Charlotte, NC 28202
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Total area
57,936 SF
Lot
4.64 ac (202,206 SF)
Zoning code
MUDD
APN
7318201
UPID
US53-0457252
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
-
QC Exclusive Magazine Publishing House
-
The Foundry Business Park
-
Studio Z Architecture Architecture Firm
-
Leo Dowell Designs Interior Design Home Decor Store
-
Symphonix Solutions Inc. Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.88M
Blend (final)
Blend
$32.10M
Owner & transaction history
Af Foundry LP · 4 yrs held
Af Foundry LP
since 2022
Last sale
$36.3M
7 recorded transactions
Zoning & alternative use
MUDD · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$40.0M
+18.0%
Restaurant
$37.0M
+9.2%
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
OFFICE BUILDING
$33,910,000
Current use
COMMERCIAL (GENERAL)
$40,020,000
Change: +18% · Conversion: Easy
RESTAURANT
$37,025,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$32.10M
Range $28.89M – $35.31M · ±10% · vs last sale $36.25M (Jan 25 2022)
Last sale anchor
$36.25M
Jan 25 2022
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
$554 / 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
$139,411
Tax year 2023
Assessed value
$19,006,300
Assessed 2024
Previous assessed
$19,041,600
-0.2% YoY
Effective rate
0.73%
On assessed value
Assessed land
$15,562,900
Assessed improvement
$3,443,400
Land market value
$15,562,900
Improvement market value
$3,443,400
Total market value
$19,006,300
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1920
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
2
Units
1
Rooms
12
Total area
57,936 SF
Lot
4.64 ac (202,206 SF)
Zoning code
MUDD
APN
7318201
UPID
US53-0457252
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDD · Charlotte, NC
Zoning MUDD · permitted uses
MUDD · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$33.9M
COMMERCIAL (GENERAL)
Est. value
$40.0M
RESTAURANT
Est. value
$37.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1920
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
4
Units
1
Rooms
12
Lot
4.64 ac
Current owner
From public records · entity-resolved
Af Foundry LP
Entity
Free & Clear · 4 yrs held
Mailing address
802 GERVAIS ST STE #200, COLUMBIA, SC 29201-3168
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2022
$36,250,000
Af Foundry LP
Foundry Uptown LLC
Special Warranty Deed
—
Jan 25, 2022
—
Ap Foundry LP
Foundry Uptown LLC
Warranty Deed
—
Oct 31, 2019
—
Foundry Uptown LLC
—
Grant Deed
related
$12,920,000 · First Bk
Oct 26, 2016
—
Foundry Uptown LLC
—
Deed
related
$6,730,000 · First Bk
Aug 6, 2014
—
Foundry Uptown LLC
Foundry Partners LLC
Quit Claim Deed
related
$4,309,033 · Bank Of Nc
Aug 6, 2014
$5,500,000
Foundry Uptown LLC
Foundry Partners LLC
Grant Deed
related
—
Jun 7, 2013
—
Foundry Partners LLC
—
Deed Of Trust
related
$5,000,000 · Regions Bank
Apr 4, 2013
$5,200,000
Foundry Partners LLC
Tomchin R Gregory
Trustees Deed
—
Mar 7, 2007
$6,500,000
Chad Cooke
Tri-star Of Cedar Street LLC
Grant Deed
—
Apr 15, 1999
—
Tri-star Cedar Street LLC
Tri-star Ltd Par
Quit Claim Deed
related
—
—
—
Chad A Cooke
—
Deed Of Trust
related
$50,000 · Ralph M & Dena F Potter
—
—
Foundry Uptown LLC
—
Deed Of Trust
related
$631,430 · Bank Of Nc
—
—
Foundry Uptown LLC
—
Deed Of Trust
related
$6,730,000 · First Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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