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

    724 Montana Dr Charlotte, NC 28216-3996

    • Warehouses
    • 68,437 SF
    • 5.95 lot acres
    OFF-MARKET
    Last Sale
    Mar 19, 2021
    $2,500,000
    Value Estimations
    $2,910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1016688
    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

    • World Different Ministries / Church
    • Midnight Welding / Welding Supply Store
    • Arianna Hair Boutique / Beauty Salon
    • Ministerio Casa De Israel / Religious Organization
    • SnatchedTD Wellness Spa / Health Spa

    Property Details for 724 Montana Dr

    Year built
    1968
    Lot size
    5.95 lot acres
    Property size
    68,437 SF
    Zone code
    R-17MF
    Property type
    Warehouses
    APN
    6914419
    APU
    6914419

    Description

    This exceptional 6,916-square-foot flex space in Simmons Business Park is ideally situated for businesses seeking a versatile and efficient workspace. Located at 724 Montana Drive Unit G, Charlotte NC 28216, this single-tenant industrial property offers an open floor plan perfect for customization. The unit boasts 12-foot concrete ceilings and a concrete floor, providing ample headroom and durability. A convenient 12x12 drive-in bay door and a 12x12 dock-high loading bay ensure easy access for loading and unloading. The property is just two miles from Downtown Charlotte, offering excellent accessibility. All utilities except electricity are included in the posted rent, encompassing taxes, building insurance, property maintenance, and water. A minimum three-year lease is required. The space includes a private bathroom and a private office, enhancing functionality and privacy. While there is no current HVAC system in the warehouse area, it's possible to add one. Note that this property is not suitable for auto shops, event spaces, paint booths, or churches. The property is conveniently located near the intersection of I-85 and Highway 16 (Brookshire Blvd). This turnkey solution provides a cost-effective and efficient workspace, ready for occupancy at the end of June.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,935,000
      ML approach
      $3,160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,453,000
      Market price range: $2.69M - $14.8M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8701
    Latitude
    35.2659
    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
    $16,174
    $741,900
    $1,463,200
    $2,205,100
    -
    $741,900
    $1,463,200
    $2,205,100

    Comparable in this City

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      121,572 SF

      816 Lawton Rd

      WAREHOUSE, STORAGE • 121,572 SF
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      View Details
    • Value Estimation by Request
      24,710 SF

      10023 Callabridge Ct

      MINI-WAREHOUSE, STORAGE • 24,710 SF
      10023 Callabridge Ct, Charlotte, NC 28216-2421
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    • Value Estimation
      $2,615,000
      19,076 SF

      1201 Carrier Dr

      WAREHOUSE, STORAGE • 19,076 SF
      1201 Carrier Dr, Charlotte, NC 28216-3543
      View Details
    • Value Estimation
      $4,720,000
      225,229 SF

      4040 Chesapeake Dr

      WAREHOUSE, STORAGE • 225,229 SF
      4040 Chesapeake Dr, Charlotte, NC 28216-3406
      View Details
    • Value Estimation
      $4,125,000
      66,885 SF

      725 Hoskins Rd

      WAREHOUSE, STORAGE • 66,885 SF
      725 Hoskins Rd, Charlotte, NC 28216-3428
      View Details
    • Value Estimation by Request
      830 SF

      3225 Miranda Rd

      WAREHOUSE, STORAGE • 830 SF
      3225 Miranda Rd, Charlotte, NC 28216
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10.48 Acres

      I-85 Frontage Commercial Land

      10.48 Acres, High-Traffic Location, Zoned CG & OFC
      2731 Beatties Ford Rd, Charlotte, NC 28216
      View Details
    • $400,000
      11.85 Acres

      11.85 Acres Wooded Land Charlotte

      Level, wooded 11.85-acre land parcel in a desirable Charlotte location.
      6411 Pleasant Grove Rd, Charlotte, NC 28216
      View Details
    • New
      $220,000
      0.21 Acres

      Land in Historic McCrorey Heights

      Rare opportunity to build in Charlotte's treasured McCrorey Heights.
      1909 Patton Ave, Charlotte, NC 28216
      View Details
    • $175,000
      0.20 Acres

      Prime Charlotte Location Land

      0.2-acre lot near airport and Uptown Charlotte.
      2330 Custer St, Charlotte, NC 28216
      View Details
    • $79,000
      0.39 Acres

      Charlotte Land in Cul-de-Sac

      0.39-acre lot in a quiet cul-de-sac, ready to build.
      2019 C Ave, Charlotte, NC 28216
      View Details
    • $5,200,000
      28.38 Acres

      Charlotte Acreage: Development Opportunity

      Prime land near Charlotte, NC, ideal for development.
      4926 Mt Holly Huntersville Rd, Charlotte, NC 28216
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      28,800 SF

      North Park Warehouse - 28,800 SF

      Spacious warehouse, ideal for single tenant. Mecklenburg County location.
      7020 Reames Rd, Charlotte, NC 28216
      View Details
    • Contact for pricing
      34,255 SF

      Industrial Park with Expansion Potential

      Industrial park offering warehouse space and future expansion options.
      3353 Reno Ave, Charlotte, NC 28216
      View Details
    • Contact for pricing
      13,600 SF

      Industrial Park with Expansion Potential

      Industrial park with outside storage and parking potential.
      3401 Reno Ave, Charlotte, NC 28216
      View Details
    • Contact for pricing
      39,360 SF

      Charlotte Warehouse Space Available

      39,360 SF warehouse space for lease in Charlotte.
      6945 Northpark Blvd, Charlotte, NC 28216
      View Details
    • Contact for pricing
      40,831 SF

      Prime I-85 Warehouse Space Available

      Spacious warehouse, excellent location, lease opportunity.
      3030 Planters Pl, Charlotte, NC 28216
      View Details
    • $10 SF/Yr
      7,500 SF

      7,500 SF Warehouse Space Available

      Warehouse space with loading docks, convenient highway access.
      6735 Reames Rd, Charlotte, NC 28216
      View Details
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    724 Montana Dr
    Charlotte, NC 28216-3996
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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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