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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701 Forest Point Cir Charlotte, NC 28273

    • Office buildings
    • 43,310 SF
    • 4.37 lot acres
    For Lease
    View listing
    Last Sale
    Mar 08, 2022
    $15,200,000
    Value Estimations
    $11,185,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1289561
    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

    • Hopebridge / Occupational Therapist / Speech Pathologist
    • Core Logic Inc. / Legal Services

    Property Details for 701 Forest Point Cir

    Year built
    1997
    Lot size
    4.37 lot acres
    Property size
    43,310 SF
    Zone code
    BDCD
    Property type
    Office buildings
    APN
    20303202
    APU
    20303202

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $10,180,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,890,000
      6.5%
      $10,975,000
      7%
      $10,190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,713,000
      Market price range: $5.28M - $13.0M
      AI Estimate
      $6,838,000
      Market price range: $1.82M - $9.74M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,315,000
      Current use
      MEDICAL BUILDING
      $17,455,000
      Change: +87% Conversion: Easy
      RETAIL STORES
      $14,030,000
      Change: +51% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $12,945,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $11,285,000
      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
    -80.9048
    Latitude
    35.1325
    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
    $52,214
    $1,499,500
    $5,618,900
    $7,118,400
    -
    $1,499,500
    $5,618,900
    $7,118,400

    Comparable in this City

    • Value Estimation
      $41,690,000
      363,238 SF

      14523 Carowinds Blvd

      OFFICE BUILDING • 363,238 SF
      14523 Carowinds Blvd, Charlotte, NC 28273-6756
      View Details
    • Value Estimation
      $24,345,000
      122,999 SF

      7910 Microsoft Way

      OFFICE BUILDING • 122,999 SF
      7910 Microsoft Way, Charlotte, NC 28273-8110
      View Details
    • Value Estimation
      $8,295,000
      57,785 SF

      9405 Arrowpoint Blvd

      OFFICE BUILDING • 57,785 SF
      9405 Arrowpoint Blvd, Charlotte, NC 28273-8167
      View Details
    • Value Estimation
      $13,225,000
      97,392 SF

      9140 Arrowpoint Blvd

      OFFICE BUILDING • 97,392 SF
      9140 Arrowpoint Blvd, Charlotte, NC 28273-8120
      View Details
    • Value Estimation
      $7,650,000
      66,024 SF

      8349 Arrowridge Blvd

      OFFICE BUILDING • 66,024 SF
      8349 Arrowridge Blvd, Charlotte, NC 28273-5705
      View Details
    • Value Estimation by Request
      0.46 Acres

      Sandy Porter Rd

      OFFICE BUILDING • 0.46 Acres
      Sandy Porter Rd, Charlotte, NC 28273
      View Details

    Similar Nearby for Sale

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      Executive Office Suite, Charlotte

      1,427 SF Office Space - $450,000
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    • Contact for pricing
      36,000 SF

      Class A Flex Building

      Flex/industrial space near Westinghouse Blvd, I-485, and I-77.
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    • $350,000
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      Residential Lot in Charlotte Community

      Prime residential lot in established Charlotte community, close to city.
      3132 Beaman Ave, Charlotte, NC 28273
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    • $265,000

      Steele Creek Townhome with Upgrades

      Beautiful townhome in Calloway Glen, move-in ready with upgrades.
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      Charlotte Wooded Lot Near Uptown

      2.27-acre wooded lot near Uptown Charlotte with development potential.
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      1.13 Acres

      Steele Creek Commercial Land

      1.134 Acres, High-Visibility Lot
      8612 Steele Creek Rd, Charlotte, NC 28273
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,301 SF

      Class A Office Space

      Five-story office building near major highways and airport.
      3700 Arco Corporate Dr, Charlotte, NC 28273
      View Details
    • Contact for pricing
      20,000 SF

      Freestanding Building in South Point

      20,000 SF office building in a serene park setting.
      13730 South Point Blvd, Charlotte, NC 28273
      View Details
    • Contact for pricing
      31,689 SF

      Class A Office Building

      Six-story office building near major highways and airport.
      3600 Arco Corporate Dr, Charlotte, NC 28273
      View Details
    • $22 SF/Yr
      36,231 SF

      Class A Office Space Available

      Modern, renovated office space in a prime Charlotte location.
      9401 Arrowpoint Blvd, Charlotte, NC 28273
      View Details
    • Contact for pricing
      23,517 SF

      Class A Office Building

      Five-story office building near Charlotte Douglas International Airport.
      3525 Whitehall Park Dr, Charlotte, NC 28273
      View Details
    • $18 SF/Yr
      28,717 SF

      Office Space in Airport Submarket

      Office building with ample parking and signage opportunities available for lease.
      8215 Forest Point Blvd, Charlotte, NC 28273
      View Details
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    701 Forest Point Cir
    Charlotte, NC 28273
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    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
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