Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    920 Eastway Dr Charlotte, NC 28205-1429

    • Manufacturing properties
    • 25,052 SF
    • 6.08 lot acres
    OFF-MARKET
    Last Sale
    Apr 14, 2023
    $500,000
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1702571
    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

    • PestBusters Pest Control / Pest Control Service

    Property Details for 920 Eastway Dr

    Year built
    1958
    Lot size
    6.08 lot acres
    Property size
    25,052 SF
    Zone code
    I-1
    Property type
    Manufacturing properties
    APN
    9302102
    APU
    9302102

    Description

    This expansive 24,965 square foot warehouse, located at 920 Eastway Drive in Charlotte, NC, presents a unique investment opportunity. Built in 1958 and situated on a 6.75-acre lot, the property boasts a flexible ML-1 zoning designation, opening doors to a variety of commercial uses. The entire space is currently vacant, offering immediate occupancy for a single tenant. The warehouse features ceiling heights ranging from 17 to 31 feet, providing ample vertical space for storage or specialized equipment. Access is facilitated by one dock-high door and one drive-in door. The property's substantial size, with a maximum contiguous space of 24,965 square feet, makes it ideal for businesses requiring significant storage or production areas. Its location in Charlotte, NC, zip code 28205, offers convenient access to major transportation routes and a thriving business community. This property is perfect for a variety of uses, from traditional warehousing and distribution to creative adaptive reuse projects. The property's size and zoning make it a highly versatile option for a wide range of businesses. The APN is 093-02-102.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $615,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $834,000
      Market price range: $694k - $4.52M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7817
    Latitude
    35.2441
    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
    $3,176
    $248,100
    $184,900
    $433,000
    -
    $248,100
    $184,900
    $433,000

    Comparable in this City

    • Value Estimation
      $4,595,000
      52,195 SF

      1300 Hawthorne Ln

      MANUFACTURING (LIGHT) • 52,195 SF
      1300 Hawthorne Ln, Charlotte, NC 28205-2922
      View Details
    • Value Estimation
      $725,000
      5,459 SF

      2201 Davidson St

      MANUFACTURING (LIGHT) • 5,459 SF
      2201 Davidson St, Charlotte, NC 28205-1829
      View Details
    • Value Estimation by Request
      3,328 SF

      857 Belmont Ave

      WAREHOUSE, STORAGE • 3,328 SF
      857 Belmont Ave, Charlotte, NC 28205-2710
      View Details
    • Value Estimation
      $1,325,000
      2,440 SF

      610 Anderson St

      WAREHOUSE, STORAGE • 2,440 SF
      610 Anderson St, Charlotte, NC 28205-1208
      View Details
    • Value Estimation
      $1,745,000
      19,527 SF

      2508 Davidson St

      WAREHOUSE, STORAGE • 19,527 SF
      2508 Davidson St, Charlotte, NC 28205
      View Details
    • Value Estimation
      $505,000
      12,225 SF

      2101 Central Ave

      DISTILLERY, BREWERY, BOTTLING • 12,225 SF
      2101 Central Ave, Charlotte, NC 28205-5203
      View Details

    Similar Nearby for Sale

    • $2,200,000
      10,000 SF

      Freestanding Building on Sugar Creek

      Freestanding 10,000 SF building on 0.95 acres.
      1437 E Sugar Creek Rd, Charlotte, NC 28205
      View Details
    • Contact for pricing
      1.16 Acres

      NoDa Commercial Land - Charlotte, NC

      Prime 1.16-acre development site near LYNX Light Rail.
      2215 Davidson St, Charlotte, NC 28205
      View Details
    • Contact for pricing
      2,019 SF

      Charlotte Mixed-Use Investment Opportunity

      Prime Monroe Rd location, 2,019 SF, flexible zoning.
      3734 Monroe Rd, Charlotte, NC 28205
      View Details
    • Contact for pricing
      5,420 SF

      Plaza Midwood Restaurant - Charlotte, NC

      Prime location, 5,420 sq ft, renovated restaurant
      1500-1502 Central Ave, Charlotte, NC 28205
      View Details
    • $785,000
      0.35 Acres

      Charlotte Land Redevelopment Opportunity

      Land with redevelopment potential in Charlotte, N2-B zoning.
      424 Skyland Ave, Charlotte, NC 28205
      View Details
    • $1,550,000
      1,888 SF

      Prime Restaurant Space in Plaza Midwood

      Turnkey restaurant with indoor/outdoor appeal in a sought-after location.
      1109 Morningside Dr, Charlotte, NC 28205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,800 SF

      Charlotte Warehouse and Storage Space

      Industrial flex space with warehouse and storage in Charlotte.
      4011 Atmore St, Charlotte, NC 28205
      View Details
    • Contact for pricing
      18,655 SF

      Industrial Space Near Uptown Charlotte

      Warehouse/distribution space with convenient access to major thoroughfares.
      2414 N Brevard St, Charlotte, NC 28205
      View Details
    • Contact for pricing
      18,055 SF

      NODA Retail Space - Charlotte, NC

      18,055 SF Flex Space, High Traffic Area
      2001 Davidson St, Charlotte, NC 28205
      View Details
    • $1,750 /Mo

      NODA Commercial Space For Lease

      Ground-floor commercial space in the Renaissance community, Charlotte, NC.
      3574 N Davidson St, Charlotte, NC 28205
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Charlotte, NC

      Retail space available in community shopping center.
      3056 Eastway Dr, Charlotte, NC 28205
      View Details
    • $53 SF/Yr
      28,571 SF

      Office Space Available For Rent

      Office space available for lease in Charlotte, North Carolina.
      1332 Central Ave, Charlotte, NC 28205
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    920 Eastway Dr
    Charlotte, NC 28205-1429
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.