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

    Charlotte, NC 28202

    • High-rise multifamily apartments
    • 603,986 SF
    • 1.47 lot acres
    OFF-MARKET
    Last Sale
    Jul 02, 2021
    $11,000,000
    Value Estimations
    $12,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1032469
    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

    • High-rise multifamily apartments

    Property Details

    Year built
    1956
    Lot size
    1.47 lot acres
    Property size
    603,986 SF
    Zone code
    B1
    Property type
    High-rise multifamily apartments
    APN
    12517402
    APU
    12517402

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,915,000
      ML approach
      $10,815,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $16,126,000
      Market price range: $5.13M - $56.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8459
    Latitude
    35.2161
    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
    $794,928
    $11,021,200
    $97,353,400
    $108,374,600
    -
    $11,021,200
    $97,353,400
    $108,374,600

    Comparable in this City

    • Value Estimation
      $9,270,000
      447,803 SF

      514 College St

      HIGH-RISE APARTMENTS • 447,803 SF
      514 College St, Charlotte, NC 28202-2214
      View Details
    • Value Estimation
      $29,335,000
      404,215 SF

      317 Morehead St

      HIGH-RISE APARTMENTS • 404,215 SF
      317 Morehead St, Charlotte, NC 28202
      View Details
    • Value Estimation
      $25,640,000
      340,772 SF

      644 Church St

      HIGH-RISE APARTMENTS • 340,772 SF
      644 Church St, Charlotte, NC 28202-2210
      View Details
    • Value Estimation
      $25,595,000
      141,055 SF

      201 10th St

      HIGH-RISE APARTMENTS • 141,055 SF
      201 10th St, Charlotte, NC 28202-1747
      View Details
    • Value Estimation by Request
      337,179 SF

      225 Poplar St

      HIGH-RISE APARTMENTS • 337,179 SF
      225 Poplar St, Charlotte, NC 28202-0099
      View Details
    • Value Estimation
      $25,385,000
      337,775 SF

      620 Church St

      HIGH-RISE APARTMENTS • 337,775 SF
      620 Church St, Charlotte, NC 28202-3277
      View Details

    Similar Nearby for Sale

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      Uptown Charlotte Class A Apartments

      Ten Class A apartments in Uptown Charlotte's central business district.
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      Uptown Corner Unit Condo

      Architecturally significant 2-bedroom condo with modern updates in Uptown.
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      Uptown Condo with City Views

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    • $265,000
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      Condo Near Downtown Charlotte Attractions

      Condo near restaurants, Panthers, Hornets, and downtown Charlotte attractions.
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      1,402 SF

      Uptown Condo with Elegant Finishes

      Three-level condo in the heart of Charlotte near stadiums and restaurants.
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    • $425,000

      Uptown Skyline View End Unit

      Full brick end unit with uptown skyline views.
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    Similar Nearby for Lease

    • $1,900 /Mo
      686 SF

      Uptown Apartment with Western Balcony

      Partially furnished Uptown apartment with luxury amenities and in-unit laundry.
      300 W 5Th St, Charlotte, NC 28202
      View Details
    • Contact for pricing
      6,853 SF

      Modern Uptown Tower for Lease

      Class A office, multifamily, and retail space in Uptown Charlotte.
      401 S Graham St, Charlotte, NC 28202
      View Details
    • Contact for pricing
      25,184 SF

      Uptown Charlotte Office Space

      Historic Uptown Office, 1915 SF Available
      402 Trade St, Charlotte, NC 28202
      View Details
    • $32 SF/Yr
      5,045 SF

      Uptown Office Sublease Opportunity

      Flexible short-term sublease opportunity in Uptown Charlotte.
      200 S Tryon St, Charlotte, NC 28202
      View Details
    • Contact for pricing
      3,574 SF

      Office Space Available For Rent

      Office space available for lease in Charlotte, North Carolina.
      300 South Tryon St, Charlotte, NC 28202
      View Details
    • Contact for pricing
      1,861 SF

      Retail Space with Overstreet Access

      Retail spaces with access to the Overstreet Mall network.
      132 E Trade St, Charlotte, NC 28202
      View Details
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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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