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

    701 Roosevelt Blvd Monroe, NC 28112-5170

    • Medical offices
    • 6,052 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    May 12, 2021
    $675,000
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1621166
    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

    • Uyiekpen Igbinadolor / Dentist
    • Anne M. Hudson, PT / Physical Therapist / Physical Therapy Clinic
    • Anson Union Prosthetic Ortho / Orthotics & Prosthetics Service
    • Page Christy L / Physical Therapist
    • Dr. Brian J. Wilder, MD / Doctor

    Property Details for 701 Roosevelt Blvd

    Year built
    1989
    Lot size
    1.01 lot acres
    Property size
    6,052 SF
    Zone code
    GB MONROE
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    09-156-015B
    APU
    09156015B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $780,000
      ML approach
      $640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $578,000
      Market price range: $299k - $817k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $610,000
      Current use
      RESTAURANT
      $715,000
      Change: +17% Conversion: Difficult
      RETAIL STORES
      $650,000
      Change: +6% Conversion: Difficult
      OFFICE BUILDING
      $635,000
      Change: +4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $600,000
      Change: -2% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $585,000
      Change: -5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $535,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.5189
    Latitude
    34.9762
    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
    $8,178
    $195,000
    $554,900
    $749,900
    -
    $195,000
    $554,900
    $749,900

    Comparable in this City

    • Value Estimation
      $1,125,000
      9,138 SF

      404 Sutherland Ave

      MEDICAL BUILDING • 9,138 SF
      404 Sutherland Ave, Monroe, NC 28112-5060
      View Details
    • Value Estimation by Request
      5,618 SF

      1420 Ellen St

      MEDICAL BUILDING • 5,618 SF
      1420 Ellen St, Monroe, NC 28112-5173
      View Details
    • Value Estimation by Request
      1,690 SF

      1009 Lancaster Ave

      MEDICAL BUILDING • 1,690 SF
      1009 Lancaster Ave, Monroe, NC 28112-5911
      View Details
    • Value Estimation by Request
      2,604 SF

      900 Sunset Dr

      MEDICAL BUILDING • 2,604 SF
      900 Sunset Dr, Monroe, NC 28112-5893
      View Details
    • Value Estimation by Request
      2,200 SF

      1630 Campus Park Dr Ste A

      MEDICAL BUILDING • 2,200 SF
      1630 Campus Park Dr Ste A, Monroe, NC 28112-5270
      View Details
    • Value Estimation by Request
      6,768 SF

      808 Cir Dr

      MEDICAL BUILDING • 6,768 SF
      808 Cir Dr, Monroe, NC 28112-3800
      View Details

    Similar Nearby for Sale

    • $600,000

      Monroe Office/Medical Building For Sale

      Two-story office/medical building in Monroe's medical and professional district.
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    • $949,000

      Historic Commercial Residence in Monroe

      Historic residence in downtown Monroe, zoned commercial, with unique architectural details.
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    • $890,000
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      Corner Lot Office/Retail Opportunity

      Corner lot with drive-through, ideal for office or retail.
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      Monroe Commercial Land For Sale

      Commercial land available in high-traffic Monroe location.
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    • $164,900

      6.57 Acre Agricultural Land Tract

      6.57 acre tract south of Monroe on Medlin Road.
      04 Medlin Rd, Monroe, NC 28112
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    • $1,250,000
      40.00 Acres

      40 Acres Untapped Potential Land

      Versatile 40-acre tract ideal for farming, recreation, or estate.
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    Similar Nearby for Lease

    • Contact for pricing
      16,000 SF

      1606 Roosevelt Blvd

      Medical offices • 16,000 SF
      1606 Roosevelt Blvd, Monroe, NC 28112
      View Details
    • New
      $2,550 /Mo
      10,890 SF

      Prime Office Space Near Courthouse

      Office space near Monroe Courthouse with modern convenience and historic charm.
      105 S Main St, Monroe, NC 28112
      View Details
    • $15 SF/Yr
      2,000 SF

      Monroe Flex/Industrial Space Available

      2,000 SF flex/industrial space for lease in Monroe, NC.
      372 Acme Dr, Monroe, NC 28112
      View Details
    • Contact for pricing
      700 SF

      Hilltop Plaza: Monroe Commercial Land

      Prime Monroe location, two spaces available.
      801 Roosevelt Blvd, Monroe, NC 28112
      View Details
    • $950 /Mo

      One Bedroom Apartment For Rent

      One bedroom, one bath apartment with washer and dryer hookup.
      702 Cotton St, Monroe, NC 28112
      View Details
    • Contact for pricing
      3,176 SF

      Restaurant with Drive-Thru Available

      3,176 SF restaurant with drive-thru for sublease.
      1300 W Roosevelt Blvd, Monroe, NC 28112
      View Details
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    Monroe, NC 28112-5170
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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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