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

    931 Polk St Pineville, NC 28134-8567

    • Retail space
    • 50,462 SF
    • 5.13 lot acres
    OFF-MARKET
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1241680
    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

    • NAPA Auto Parts / Auto Parts Store / Auto Parts Market
    • Carpet & Flooring Liquidators / Flooring Store / Carpet Installer
    • PPG Paint Store / Paint Store

    Property Details for 931 Polk St

    Year built
    1974
    Lot size
    5.13 lot acres
    Property size
    50,462 SF
    Zone code
    B3
    Property type
    Retail space
    APN
    20508105
    APU
    20508105

    Description

    This exceptional retail property, located at 931 N Polk St in Pineville, NC, offers a significant opportunity for businesses seeking a prominent location in the Charlotte submarket. The single-building center boasts a total of 50,925 square feet, with a substantial 38,275 square feet currently available for lease. This contiguous space is ideal for a large-scale tenant or can be potentially subdivided (minimum divisible 38,275 SF). The property sits on a generous 5.14 acres of land, providing ample parking and visibility. A complete facade renovation and a 30,000 square foot addition were finished in 2019, ensuring modern and attractive aesthetics. The strategic location offers excellent access to major transportation arteries, being only half a mile from I-485 and Highway 51, ensuring high traffic flow and convenient access for customers and employees. The building features a unique layout with 8,275 square feet of retail space in the front, seamlessly flowing into 30,000 square feet of space in the rear. This versatile space is situated in Mecklenburg County, within the thriving Charlotte submarket, making it an attractive option for businesses seeking a high-traffic, easily accessible location. The property's size, recent renovations, and prime location make it an outstanding investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $910,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pineville
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8856
    Latitude
    35.0937
    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
    $40,536
    $2,783,400
    $2,563,600
    $5,347,000
    -
    $2,783,400
    $2,563,600
    $5,347,000

    Comparable in this City

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      14805 Lancaster Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1,596 SF
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      View Details
    • Value Estimation
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      331 Main St

      RETAIL STORES (PERSONAL SERVICES) • 16,807 SF
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      View Details
    • Value Estimation
      $235,000
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      715 Morrow Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,550 SF
      715 Morrow Ave, Pineville, NC 28134-6529
      View Details
    • Value Estimation
      $3,355,000
      10,840 SF

      502 Polk St

      RETAIL STORES (PERSONAL SERVICES) • 10,840 SF
      502 Polk St, Pineville, NC 28134-8520
      View Details
    • Value Estimation
      $260,000
      2,760 SF

      316 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,760 SF
      316 Main St, Pineville, NC 28134
      View Details
    • Value Estimation
      $315,000
      5,157 SF

      220 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,157 SF
      220 Main St, Pineville, NC 28134-9472
      View Details

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      Prime Pineville Retail Space

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      Freestanding Restaurant with Drive-Thru

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    Pineville, NC 28134-8567
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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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