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Property profile & analytics
OFF-MARKET
Estimated value
$35,000,000
Garden apartment buildings
7232 Wallace Rd Charlotte, NC 28212-6966
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-5834400
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1986
Total area
2,198 SF
Lot
8.63 ac (376,010 SF)
Zoning code
O2
APN
19105102
UPID
US53-5834400
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
-
Hairology Imajj Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$35.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$35.00M
Owner & transaction history
Rise Blue Ridge LLC · 2 yrs held
Rise Blue Ridge LLC
since 2024
Last sale
$35.0M
7 recorded transactions
Zoning & alternative use
O2 · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$35,000,000
ML approach
$35,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$35.00M
Range $31.50M – $38.50M · ±10% · vs last sale $35.00M (Jul 3 2024)
Last sale anchor
$35.00M
Jul 3 2024
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
$15,924 / 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
$208,573
Tax year 2023
Assessed value
$28,435,300
Assessed 2024
Previous assessed
$31,152,700
-8.7% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,783,300
Assessed improvement
$25,652,000
Land market value
$2,783,300
Improvement market value
$25,652,000
Total market value
$28,435,300
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1986
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
15
Stories
3
Rooms
3
Total area
2,198 SF
Lot
8.63 ac (376,010 SF)
Zoning code
O2
APN
19105102
UPID
US53-5834400
Jurisdiction
MECKLENBURG
Zoning & alternative use
O2 · Charlotte, NC
Zoning O2 · permitted uses
O2 · 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.
Building & site characteristics
From public records
Year built
1986
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
15
Rooms
3
Lot
8.63 ac
Current owner
From public records · entity-resolved
Rise Blue Ridge LLC
Entity
Mailing address
8324 E PO BOX 56607TH DR, ATLANTA, GA 30343-0607
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
$35,000,000
Rise Blue Ridge LLC
W Flats Residences LLC
Special Warranty Deed
$30,045,000 · Brabec 1 LLC
Jun 30, 2017
—
W Flats Residences LLC
W Flats Apartments LLC
Quit Claim Deed
—
Jun 30, 2017
$19,750,000
W Flats Residences LLC
W Flats Apartments LLC
Grant Deed
$14,812,000 · Walker & Dunlop
May 8, 2015
$13,300,000
W Flats Apartments LLC
Wallace Nc Partners LLC
Grant Deed
—
May 8, 2015
—
W Flats Apartments LLC
Wallace Nc Partners LLC
Trustees Deed
related
$10,640,000 · Cbre Cap Markets
Feb 2, 2015
$12,500,000
Wallace Nc Partners LLC
Mp Steeplechase LLC
Grant Deed
$10,150,000 · Walker & Dunlop
Feb 2, 2015
—
Wallace Nc Partners LLC
Mp Steeplechase LLC
Quit Claim Deed
related
—
Sep 10, 2007
—
Mp Steeplechase LLC
Ml North Carolina Apartments L
Grant Deed
—
Sep 10, 2007
$12,890,000
Mp Steeplechase LLC
Ml North Carolina Apartments LP
Special Warranty Deed
$9,220,000 · Wachovia Multifamily Capital INC
Nov 1, 1994
$8,783,000
Merry Land & Investment Co INC
Fogelman,secured
Grant Deed
—
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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