Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,785,000
Strip malls
8301 Magnolia Ests Dr Cornelius, NC 28031-8050
Entity Owned
10-yr Hold
Free & Clear
Property ID
US53-0502186
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Total area
85,617 SF
Lot
12.4 ac (540,188 SF)
Zoning code
VC
APN
524127
UPID
US53-0502186
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$19.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.79M
Owner & transaction history
Vrs Magnolia Plaza LLC · 10 yrs held
Vrs Magnolia Plaza LLC
since 2015
5 recorded transactions
Zoning & alternative use
VC · Cornelius, 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 Cornelius submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cornelius 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$21,015,000
6.5%
$19,395,000
7%
$18,010,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$23,485,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$14.79M
Range $13.31M – $16.26M · ±10%
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
$173 / 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
$153,076
Tax year 2023
Assessed value
$23,688,600
Assessed 2024
Previous assessed
$24,024,300
-1.4% YoY
Effective rate
0.65%
On assessed value
Assessed land
$9,340,700
Assessed improvement
$14,347,900
Land market value
$9,340,700
Improvement market value
$14,347,900
Total market value
$23,688,600
Applied tax rate
2.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Units
1
Rooms
28
Total area
85,617 SF
Lot
12.4 ac (540,188 SF)
Zoning code
VC
APN
524127
UPID
US53-0502186
Jurisdiction
MECKLENBURG
Zoning & alternative use
VC · Cornelius, NC
Zoning VC · permitted uses
VC · Cornelius, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cornelius. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$23.5M
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
1
Rooms
28
Lot
12.4 ac
Current owner
From public records · entity-resolved
Vrs Magnolia Plaza LLC
Entity
Free & Clear · 10 yrs held
Mailing address
3348 PEACHTREE RD NE STE #1100, ATLANTA, GA 30326-1447
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2015
$26,564,000
Vrs Magnolia Plaza LLC
Hepmag LLC
Grant Deed
—
Nov 15, 2013
—
Hepmag LLC
Bvb-nc LLC
Quit Claim Deed
related
—
Nov 15, 2013
$5,325,000
Hepmag LLC
Belk,b V JR & Harriet C
Grant Deed
—
Feb 1, 2012
—
B V Belk JR.
—
Deed Of Trust
related
$4,500,000 · Bank Of North Carolina
Feb 4, 1999
$1,913,000
B V Belk JR.
Magnolia Estates
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 8301 Magnolia Ests Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
