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    Property profile & analytics

    9308 Steele Crk Rd Charlotte, NC 28273-3230

    • Grocery and convenience stores
    • 6,101 SF
    • 2.23 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2023
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3904039
    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

    • Sam's Mart / Grocery & Convenience Store
    • Choice Deli / Food Market / Restaurant
    • Sam's Xpress Car Wash / Car Wash
    • Bitstop Bitcoin ATM / Crypto Atm / Atm
    • Mobil / Gas Station

    Property Details for 9308 Steele Crk Rd

    Year built
    2017
    Lot size
    2.23 lot acres
    Property size
    6,101 SF
    Property type
    Grocery and convenience stores
    APN
    19924154
    APU
    19924154

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $920,000
      Market price range: $499k - $1.14M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,590,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9696
    Latitude
    35.1638
    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
    $26,863
    $2,402,700
    $1,259,600
    $3,662,300
    -
    $2,402,700
    $1,259,600
    $3,662,300

    Comparable in this City

    • Value Estimation
      $8,080,000
      58,800 SF

      8120 Tryon St

      GROCERY, SUPERMARKET • 58,800 SF
      8120 Tryon St, Charlotte, NC 28273-3325
      View Details
    • Value Estimation
      $735,000
      4,321 SF

      9424 Tryon St

      CONVENIENCE STORE • 4,321 SF
      9424 Tryon St, Charlotte, NC 28273-6500
      View Details
    • Value Estimation
      $1,470,000
      5,400 SF

      8641 Ss Blvd

      CONVENIENCE STORE • 5,400 SF
      8641 Ss Blvd, Charlotte, NC 28273-7281
      View Details
    • Value Estimation
      $2,590,000
      29,172 SF

      11225 Tryon St

      GROCERY, SUPERMARKET • 29,172 SF
      11225 Tryon St, Charlotte, NC 28273-6656
      View Details
    • Value Estimation
      $960,000
      5,232 SF

      2326 Sandy Porter Rd

      CONVENIENCE STORE • 5,232 SF
      2326 Sandy Porter Rd, Charlotte, NC 28273-4302
      View Details
    • Value Estimation
      $680,000
      2,346 SF

      426 Westinghouse Blvd

      CONVENIENCE STORE • 2,346 SF
      426 Westinghouse Blvd, Charlotte, NC 28273-6222
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,863 SF

      Charlotte Retail Bank Building

      Prime 3,863 SF Bank w/ Drive-Thru
      9630 Tryon St, Charlotte, NC 28273
      View Details
    • $300,000
      1.15 Acres

      Charlotte Retail Land Investment

      1.15-acre prime retail lot, ideal location.
      10716 John Price Rd, Charlotte, NC 28273
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    • $3,898,706
      81 SF

      Leased Restaurant Property Near Outlets

      Profitable investment opportunity with a desirable NNN lease term.
      4824 Berewick Town Ctr Dr, Charlotte, NC 28273
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    • Contact for pricing

      Charlotte Auto Shop Investment

      NNN Leased Auto Repair Center, High NOI
      8940 Tryon St, Charlotte, NC 28273
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    • Contact for pricing
      19,875 SF

      Charlotte Industrial Building For Sale

      19,875 SF industrial building in Charlotte's Steele Creek area.
      10725 John Price Rd, Charlotte, NC 28273
      View Details
    • $258,000

      Home in Desirable Location

      Home with fresh paint and spacious kitchen in Charlotte.
      12918 Mosby Ln, Charlotte, NC 28273
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    Similar Nearby for Lease

    • Contact for pricing
      2,800 SF

      Retail Space in SouthPoint Village

      Retail space available in Charlotte's SouthPoint Village Shopping Center.
      10720 S Tryon St, Charlotte, NC 28273
      View Details
    • Contact for pricing
      3,370 SF

      Retail Space in Southwest Charlotte

      Retail space for lease in multi-use development near I-485.
      9021 Steele Creek Rd, Charlotte, NC 28273
      View Details
    • Contact for pricing
      2,800 SF

      Retail Endcaps with Patio Space

      Retail endcap spaces available, ideal for salon or restaurant.
      13224 Steele Creek Rd, Charlotte, NC 28273
      View Details
    • $18 SF/Yr
      28,717 SF

      Office Space in Airport Submarket

      Office building with ample parking and signage opportunities available for lease.
      8215 Forest Point Blvd, Charlotte, NC 28273
      View Details
    • $15 SF/Yr
      40,560 SF

      Charlotte Retail Space: Pine Brook II

      Prime Charlotte retail space, multiple units available.
      9600 Southern Pne Blvd A B C, Charlotte, NC 28273
      View Details
    • Contact for pricing

      Regional Power Center Retail Space

      Dominant 834,940 SF regional center with excellent co-tenancy.
      9541 South Blvd, Charlotte, NC 28273
      View Details

    Property Visit Statistics

    • Visits by month
      29.9k
    • Visitors by month
      21.5k
    • Avg Time on site
      6 min
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    Charlotte, NC 28273-3230
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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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