Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    708 Cotton St Monroe, NC 28112-5975
    Back to Search
    Property profile & analytics

    708 Cotton St, Monroe, NC 28112-5975

    View on Map
    • High-rise multifamily apartments
    • 4,200 SF
    • 2.89 lot acres
    Off-Market
    Last Sale Jan 8, 2024
    Property ID
    US53-1450934
    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.
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • High-rise multifamily apartments

    Property Details for 708 Cotton St

    Year built
    1989
    Construction
    WOOD
    Lot size
    2.89 lot acres
    Zone code
    R-MF MONROE
    Property type
    High-rise multifamily apartments
    APN
    09-195-024
    APU
    9195024

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 4, 2025 — Cotton Street LLC — Deed · related $1.9M · Pinnacle Bank
    Sep 30, 2024 — Cotton Street LLC Thomas R Simpson Correction Deed · related —
    Jan 8, 2024 — Cotton Exchange LLC Thomas R Simpson Warranty Deed —
    Sep 1, 2023 $1,025,000 Thomas R Simpson Michaelj Sheldon Warranty Deed —
    May 24, 2023 — Thomas R Simpson Cotton Street LLC Warranty Deed —
    Aug 1, 2018 — Cotton Street LLC — Deed · related —
    May 11, 2010 — Cotton Street LLC Simpson,thomas R & Mary M Warranty Deed · related —
    Apr 1, 2010 $810,000 Thomas R Simpson Mountaineer Properties LLC Grant Deed —
    Nov 21, 2005 $775,000 Mountaineer Properties LLC Substitute Trustee Svcs INC Trustees Deed · related $305k · No Lender On Document
    — — Cotton Street LLC — Loan Modification · related —
    — — Cotton Street LLC — Loan Modification · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $575,000
      6.5%
      $530,000
      7%
      $490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $714,000
      Market price range: $211k - $715k

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.5381
    Latitude
    34.9744
    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
    $8,855
    $92,500
    $719,500
    $812,000
    -
    $92,500
    $719,500
    $812,000

    Comparable in this City

    • Value Estimation by Request
      2,184 SF

      329 Morrow Ave

      HIGH-RISE APARTMENTS
      329 Morrow Ave, Monroe, NC 28112-4142
      View Details
    • Value Estimation by Request
      2,538 SF

      405 Thompson St

      HIGH-RISE APARTMENTS
      405 Thompson St, Monroe, NC 28112
      View Details
    • Value Estimation
      $9,105,000
      7,812 SF

      Sunset Dr

      HIGH-RISE APARTMENTS
      Sunset Dr, Monroe, NC 28112
      View Details
    • Value Estimation by Request
      2,190 SF

      300 Hudson St

      HIGH-RISE APARTMENTS
      300 Hudson St, Monroe, NC 28112-5640
      View Details
    • Value Estimation
      $870,000
      7,836 SF

      1308 Hayne St

      HIGH-RISE APARTMENTS
      1308 Hayne St, Monroe, NC 28112-6280
      View Details
    • Value Estimation by Request
      2,784 SF

      407 Charles St

      HIGH-RISE APARTMENTS
      407 Charles St, Monroe, NC 28112-5799
      View Details

    Similar Nearby for Sale

    • New
      $950,000
      2.20 Acres

      Two New Construction Homes Package

      Two new construction homes on wooded acreage, move-in ready.
      5624/5630 Tipton Rd, Monroe, NC 28112
      View Details
    • Contact for pricing

      Subdivision Land with Studies Included

      Land suitable for development with completed studies and timber contract.
      4120 Mcmanus Rd, Monroe, NC 28112
      View Details
    • Contact for pricing

      Vacant Land with Well & Septic

      Spacious vacant land with well, septic, and barn.
      5620 Stack Rd, Monroe, NC 28112
      View Details
    • Contact for pricing

      Versatile Farm Property with Barn

      9-acre farm with barns, pastures, and potential for various uses.
      5727 S Rocky River Rd, Monroe, NC 28112
      View Details
    • $119,000
      1.80 Acres

      Cleared Lot Ready to Build

      1.8-acre cleared lot, ready for building your dream home.
      1324 Augustus Rd, Monroe, NC 28112
      View Details
    • $1,600,000
      Pending

      Expansive Land in Monroe, NC

      119-acre land parcel with development, recreation, or investment potential.
      1720 Trinity Church Rd, Monroe, NC 28112
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Rent Monroe

      Land available for rent in Monroe, North Carolina.
      837 E Roosevelt Blvd, Monroe, NC 28112
      View Details
    • Contact for pricing

      Prime Commercial Space For Lease

      Exceptional leasing opportunity in a high-traffic location.
      1606 E Roosevelt Blvd, Monroe, NC 28112
      View Details
    • Contact for pricing
      4,000 SF

      Monroe Flex Space Available

      4,000 SF suite with private offices and parking.
      1643 Campus Park Dr, Monroe, NC 28112
      View Details
    • Contact for pricing
      16,000 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    708 Cotton St
    Monroe, NC 28112-5975
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    708 Cotton St, Monroe, NC, 28112
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!