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

    8702 Lancaster Hwy Waxhaw, NC 28173-9458

    • Grocery and convenience stores
    • 1,812 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Apr 24, 2025
    $540,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2658548
    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

    • U-Haul Neighborhood Dealer / Trailer Rental Service / Truck Rental Agency
    • CITGO / Gas Station
    • Cane Creek BP / Gas Station

    Property Details for 8702 Lancaster Hwy

    Year built
    1955
    Lot size
    0.92 lot acres
    Property size
    1,812 SF
    Zone code
    B-4 UNION COUNTY
    Property type
    Grocery and convenience stores
    APN
    05-072-025
    APU
    5072025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waxhaw
    County
    Union
    State
    North Carolina
    Longitude
    -80.7037
    Latitude
    34.8603
    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
    $423
    $23,800
    $43,600
    $67,400
    -
    $23,800
    $43,600
    $67,400

    Comparable in this City

    • Value Estimation by Request
      1,895 SF

      315 Ws Main St

      CONVENIENCE STORE • 1,895 SF
      315 Ws Main St, Waxhaw, NC 28173
      View Details
    • Value Estimation
      $4,260,000
      32,704 SF

      1301 Broome St

      GROCERY, SUPERMARKET • 32,704 SF
      1301 Broome St, Waxhaw, NC 28173-9380
      View Details
    • Value Estimation by Request
      224 SF

      Kensington Dr

      CONVENIENCE STORE • 224 SF
      Kensington Dr, Waxhaw, NC 28173
      View Details
    • Value Estimation
      $720,000
      3,067 SF

      601 Es Main St

      CONVENIENCE STORE • 3,067 SF
      601 Es Main St, Waxhaw, NC 28173-8286
      View Details
    • Value Estimation
      $1,015,000
      2,553 SF

      315 Broome St

      CONVENIENCE STORE • 2,553 SF
      315 Broome St, Waxhaw, NC 28173-7483
      View Details
    • Value Estimation by Request
      1 SF

      3012 Providence St

      Individual retail properties • 1 SF
      3012 Providence St, Waxhaw, NC 28173
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      Waxhaw Retail Outparcels: Prime Location

      Restaurant & Medical Office Sites Available
      0 Providence St, Waxhaw, NC 28173
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    • $299,000
      7.15 Acres

      Waxhaw Land Ideal for Farming

      Large tract of land perfect for horse or hobby farms.
      1017 S Oakshire Ln, Waxhaw, NC 28173
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    • New
      $1,200,000
      10.00 Acres

      10 Acres in Waxhaw, NC

      10 acres of land ready for a private residence.
      Potter Rd, Waxhaw, NC 28173
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    • $279,400

      Waxhaw Land with Development Potential

      22-acre Waxhaw property with building potential and wildlife habitat.
      00 Stonehenge Ct, Waxhaw, NC 28173
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    • $600,000
      6.02 Acres

      Waxhaw Land with Development Potential

      6.02-acre parcel in desirable area with development potential.
      6516 Rehobeth Rd, Waxhaw, NC 28173
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    • $495,000
      10.37 Acres

      Cane Creek Waterfront Wilderness Sanctuary

      10.37 acre Waxhaw refuge with 700 feet of creek.
      10 11, Waxhaw, NC 28173
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Waxhaw Retail Pad - For Lease

      Prime 1-acre retail space in Waxhaw, NC.
      3012 Providence St, Waxhaw, NC 28173
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    • Contact for pricing
      11,200 SF

      Retail, Office, Medical Space Available

      Retail, office, and medical spaces for lease in Waxhaw.
      S Providence Rd, Waxhaw, NC 28173
      View Details
    • Contact for pricing
      251,046 SF

      Waxhaw Medical Office Opportunity

      Prime Medical Office Space Available in Waxhaw, NC
      2508 Cuthbertson Rd, Waxhaw, NC 28173
      View Details
    • Contact for pricing

      Retail Development on Providence Road

      Retail spaces for lease in Waxhaw's main retail corridor.
      3205 S Providence Rd, Waxhaw, NC 28173
      View Details
    • Contact for pricing
      82,914 SF

      Prescot Village Retail Space in Waxhaw, NC

      Class A Retail Space, Flexible Sizes Available
      0 Prescott Glen Pkwy, Waxhaw, NC 28173
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    • Contact for pricing

      Land for Lease in Waxhaw

      Land available for lease in a growing South Charlotte community.
      3210 S Providence Rd, Waxhaw, NC 28173
      View Details
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    Waxhaw, NC 28173-9458
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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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