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

    8308 Fairview Rd Mint Hill, NC 28227-7622

    • Office buildings
    • 2,182 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jul 14, 2020
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1184578
    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

    • Office buildings

    Property Details for 8308 Fairview Rd

    Year built
    1948
    Lot size
    0.23 lot acres
    Property size
    2,182 SF
    Zone code
    BG
    Property type
    Office buildings
    APN
    19703145
    APU
    19703145

    Description

    This single-story, 2,182 square foot commercial building, located at 8308 Fairview Rd in Mint Hill, NC 28227, presents a unique investment opportunity. Built in 1948 and renovated in 1984, the property is classified as Class C and currently vacant, ensuring immediate occupancy for the new owner. The building sits on a 0.31-acre lot, providing ample parking. The interior features four offices, ideal for consultations or treatments, and three large storage areas adaptable to various business needs. The flexible layout makes it suitable for a range of uses, including executive offices, medical offices, or traditional office spaces. The property's location in Mint Hill offers excellent accessibility and visibility. The asking price is $700,000. The building will be vacant at closing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $680,000
      6.5%
      $630,000
      7%
      $585,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $619,000
      Market price range: $398k - $993k
      AI Estimate
      $612,000
      Market price range: $245k - $1.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $685,000
      Current use
      MEDICAL BUILDING
      $790,000
      Change: +15% Conversion: Easy
      RETAIL STORES
      $695,000
      Change: +1% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $630,000
      Change: -8% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $600,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mint Hill
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.6421
    Latitude
    35.1785
    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
    $2,239
    $98,000
    $222,700
    $320,700
    -
    $98,000
    $222,700
    $320,700

    Comparable in this City

    • Value Estimation
      $8,115,000
      30,045 SF

      8510 Crown Cres Ct

      OFFICE BUILDING • 30,045 SF
      8510 Crown Cres Ct, Charlotte, NC 28227-7733
      View Details
    • Value Estimation
      $4,260,000
      12,898 SF

      2520 Sardis N Rd

      OFFICE BUILDING • 12,898 SF
      2520 Sardis N Rd, Charlotte, NC 28227-7827
      View Details
    • Value Estimation
      $1,465,000
      5,104 SF

      11330 Bain School Rd

      OFFICE BUILDING • 5,104 SF
      11330 Bain School Rd, Mint Hill, NC 28227-7550
      View Details
    • Value Estimation
      $625,000
      1,624 SF

      11349 Bain School Rd

      OFFICE BUILDING • 1,624 SF
      11349 Bain School Rd, Mint Hill, NC 28227-7536
      View Details
    • Value Estimation
      $990,000
      3,780 SF

      8509 Crown Cres Ct

      OFFICE BUILDING • 3,780 SF
      8509 Crown Cres Ct, Charlotte, NC 28227-7733
      View Details
    • Value Estimation by Request
      4,030 SF

      2210 Crownpoint Executive Dr

      OFFICE BUILDING • 4,030 SF
      2210 Crownpoint Executive Dr, Charlotte, NC 28227-7754
      View Details

    Similar Nearby for Sale

    • $375,000

      New Office Building on Albemarle

      New office building with road frontage on Albemarle Road.
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      View Details
    • New
      $295,000
      2.50 Acres

      Crown Centre Office Suite

      1,100 SF office suite with open layout and offices.
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    • $250,000
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      Prime Matthews Office Suite

      Spacious office, ideal location, great amenities.
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      View Details
    • $775,000

      Prime Development Site in Mint Hill

      1.285-acre site ideal for medical, retail, or office development.
      4317 Wilgrove Mint Hill Rd, Mint Hill, NC 28227
      View Details
    • $525,000
      0.84 Acres

      Mint Hill Residential Land - Prime Location

      .842 Acres, High Traffic Area, Excellent Investment
      51 At Fairview Rd Hwy 218, Mint Hill, NC 28227
      View Details
    • $2,950,000
      51.50 Acres

      Mint Hill Commercial Land - 51 Acres

      Prime 51-acre commercial lot near I-485.
      10524 Connell Rd, Mint Hill, NC 28227
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      Prime Retail/Office Space Available
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      Charlotte Office Sublease Opportunity

      1,376 SF Move-In Ready Office Space
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      View Details
    • $22 SF/Yr
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      Creekside Greenway Office Space

      Charlotte Office Park: Modern Suites Available
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      View Details
    • $22 SF/Yr
      16,540 SF

      Creekside Greenway Office Park

      Charlotte Office Space, Newly Renovated
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    • Contact for pricing
      30,992 SF

      Flex Space Sublease Opportunity

      6,065 SF flex space available for sublease through April 2030.
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      View Details
    • $22 SF/Yr
      29,806 SF

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      Charlotte Office Space: Modern & Convenient
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      View Details
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    8308 Fairview Rd
    Mint Hill, NC 28227-7622
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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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