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    Property profile & analytics

    9640 Tryon St Charlotte, NC 28273-6447

    • Strip malls
    • 12,100 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2021
    $2,674,000
    Value Estimations
    $3,095,000
    Show details
    Cap Rate Potential
    7.4%
    Strip malls
    Location Intelligence
    Property ID
    US53-0671124
    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

    • Vip Barber Shop / Barber Shop
    • Micaela's Beauty Salon / Hair Salon / Nail Salon
    • Milano's Pizza & Pasta / Restaurant
    • ilovemilanos / Restaurant
    • Farmland / Restaurant

    Property Details for 9640 Tryon St

    Year built
    1999
    Lot size
    1.19 lot acres
    Property size
    12,100 SF
    Zone code
    I-1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    20117123
    APU
    20117123

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,140,000
      ML approach
      $3,080,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,895,000
      6.5%
      $3,595,000
      7%
      $3,335,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,416,000
      Market price range: $1.76M - $5.46M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,615,000
      Current use
      MEDICAL BUILDING
      $4,875,000
      Change: +35% Conversion: Difficult
      RETAIL STORES
      $3,920,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,155,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.9431
    Latitude
    35.1284
    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
    $20,011
    $1,461,500
    $1,266,700
    $2,728,200
    -
    $1,461,500
    $1,266,700
    $2,728,200

    Comparable in this City

    • Value Estimation
      $3,240,000
      18,079 SF

      2130 Ayrsley Town Blvd

      SHOPPING CENTER, STRIP CENTER • 18,079 SF
      2130 Ayrsley Town Blvd, Charlotte, NC 28273-3526
      View Details
    • Value Estimation
      $3,480,000
      19,890 SF

      10720 Tryon St

      SHOPPING CENTER, STRIP CENTER • 19,890 SF
      10720 Tryon St, Charlotte, NC 28273-4507
      View Details
    • Value Estimation
      $9,350,000
      66,569 SF

      12806 Tryon St

      SHOPPING CENTER, STRIP CENTER • 66,569 SF
      12806 Tryon St, Charlotte, NC 28273-6989
      View Details
    • Value Estimation
      $2,020,000
      11,683 SF

      3615 Whitehall Park Dr

      SHOPPING CENTER, STRIP CENTER • 11,683 SF
      3615 Whitehall Park Dr, Charlotte, NC 28273-4138
      View Details
    • Value Estimation
      $7,715,000
      56,747 SF

      9118 Tryon St

      SHOPPING CENTER, STRIP CENTER • 56,747 SF
      9118 Tryon St, Charlotte, NC 28273-3639
      View Details
    • Value Estimation
      $1,865,000
      10,150 SF

      8516 Tryon St

      SHOPPING CENTER, STRIP CENTER • 10,150 SF
      8516 Tryon St, Charlotte, NC 28273-3550
      View Details

    Similar Nearby for Sale

    • $540,000
      0.10 Acres

      Ayrsley Mixed-Use Landmark Property

      Exceptional mixed-use property in a dynamic Charlotte location.
      2108 Ayrsley Town Blvd, Charlotte, NC 28273
      View Details
    • Contact for pricing
      6,304 SF

      Prime Outparcel Adjacent to Pavilion

      1.09 acre outparcel with 6,304 SF improvements in Charlotte.
      9807 South Blvd, Charlotte, NC 28273
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    • Contact for pricing

      Fully Leased Automotive Center

      Single-tenant retail automotive center in Charlotte, North Carolina.
      8940 S Tryon St, Charlotte, NC 28273
      View Details
    • $3,898,706

      Leased Restaurant Property Near Outlets

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

      Industrial Development Site Available

      3-acre industrial site near I-77/I-485 interchange in Charlotte, NC.
      825 Forest Point Cir, Charlotte, NC 28273
      View Details
    • Contact for pricing

      Land Near Carowinds Amusement Park

      Rough graded land with utilities near South Tryon and I-77.
      13300 Carowinds Blvd, Charlotte, NC 28273
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing

      Prime Retail Location in Charlotte

      Highly desirable location at a signalized corner in southwest Charlotte.
      South Tryon St & Steele Crk Rd, Charlotte, NC 28273
      View Details
    • 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
      2,505 SF

      Ayrsley Town Boulevard Retail Space

      Retail space available for lease in Charlotte, North Carolina.
      2025 Ayrsley Town Blvd, 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
      3,600 SF

      Retail Endcaps with Patio Space

      Retail endcap spaces available, ideal for salon or restaurant.
      13224 Steele Creek Rd, Charlotte, NC 28273
      View Details
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    Charlotte, NC 28273-6447
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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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