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Property profile & analytics
OFF-MARKET
Estimated value
$16,485,000
Hotels
6220 Caden Rd Charlotte, NC 28278-6992
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-4818503
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2018
Total area
86,348 SF
Lot
2.44 ac (106,461 SF)
Zoning code
CC
APN
19923705
UPID
US53-4818503
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
$11.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.48M
Blend (final)
Blend
$16.49M
Owner & transaction history
Steele Creek Partnership LLC · 5 yrs held
Steele Creek Partnership LLC
since 2021
Last sale
$16.9M
2 recorded transactions
Zoning & alternative use
CC · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$25.8M
+93.9%
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
$19,890,000
ML approach
$11,175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$13,310,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$25,810,000
Change: +94% · Conversion: Difficult
Blend value · Realmo final
$16.49M
Range $14.84M – $18.13M · ±10% · vs last sale $16.94M (May 7 2021)
Last sale anchor
$16.94M
May 7 2021
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
$191 / 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
$125,244
Tax year 2023
Assessed value
$17,074,800
Assessed 2024
Previous assessed
$17,295,500
-1.3% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,732,900
Assessed improvement
$15,341,900
Land market value
$1,732,900
Improvement market value
$15,341,900
Total market value
$17,074,800
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2018
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
135
Total area
86,348 SF
Lot
2.44 ac (106,461 SF)
Zoning code
CC
APN
19923705
UPID
US53-4818503
Jurisdiction
MECKLENBURG
Zoning & alternative use
CC · Charlotte, NC
Zoning CC · permitted uses
CC · 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
HOTEL/MOTEL Current
Est. value
$13.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.8M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
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
2018
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
135
Lot
2.44 ac
Current owner
From public records · entity-resolved
Steele Creek Partnership LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1 WORLD TRADE CTR FL #86, NEW YORK, NY 10007-0126
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2021
—
Steele Creek Partnership LLC
Pdof Dnp Q3 Charlotte LLC
Quit Claim Deed
related
—
May 7, 2021
$16,940,000
M2 Steele Creek LLC
Steele Creek Partnership LLC
Special Warranty Deed
$10,087,500 · Western Alliance Bank
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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