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Property profile & analytics
OFF-MARKET
Estimated value
$2,215,000
Drug stores
9628 Rea Rd Charlotte, NC 28277-6697
Entity Owned
19-yr Hold
Free & Clear
Property ID
US53-1312700
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2006
Total area
13,386 SF
Lot
1.55 ac (67,474 SF)
Zoning code
CC
APN
22908171
UPID
US53-1312700
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
MinuteClinic at CVS Medical Clinic
-
Sherri Cuddy Physician
-
Samantha Carr Pharmacy
-
CVS Photo (Bike/Boat/Book/etc) Store
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.52M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.22M
Owner & transaction history
Kensington Gardens Bldrs Corp · 19 yrs held
Kensington Gardens Bldrs Corp
since 2007
1 recorded transaction
Zoning & alternative use
CC · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Charlotte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlotte submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,730,000
6.5%
$2,520,000
7%
$2,340,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,490,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $1.99M – $2.44M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$165 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,276
Tax year 2023
Assessed value
$4,945,600
Assessed 2024
Previous assessed
$5,006,600
-1.2% YoY
Effective rate
0.73%
On assessed value
Assessed land
$2,494,400
Assessed improvement
$2,451,200
Land market value
$2,494,400
Improvement market value
$2,451,200
Total market value
$4,945,600
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
13,386 SF
Lot
1.55 ac (67,474 SF)
Zoning code
CC
APN
22908171
UPID
US53-1312700
Jurisdiction
MECKLENBURG
Zoning & alternative use
CC · Charlotte, NC
Zoning CC · permitted uses
CC · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlotte. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.5M
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Kensington Gardens Bldrs Corp
Entity
Free & Clear · 19 yrs held
Mailing address
250 CIVIC CTR DR STE #500, COLUMBUS, OH 43215-5088
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2007
$5,275,000
Kensington Gardens Bldrs Corp
Blakeney Retail LLC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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