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Property profile & analytics
OFF-MARKET
Estimated value
$47,145,000
Medical Office Space
Charlotte, NC 28204
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-5366439
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2019
Total area
121,324 SF
Lot
3.93 ac (171,147 SF)
APN
12520235
UPID
US53-5366439
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$50.24M
Blend (final)
Blend
$47.15M
Owner & transaction history
Weeltower Pappas Mob 2 LLC · 5 yrs held
Weeltower Pappas Mob 2 LLC
since 2021
Last sale
$43.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$77.5M
+58.6%
Office building
$54.4M
+11.3%
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
$51,180,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$48,900,000
Current use
RESTAURANT
$77,540,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$54,405,000
Change: +11% · Conversion: Easy
RETAIL STORES
$39,295,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$47.15M
Range $42.43M – $51.86M · ±10% · vs last sale $43.59M (Apr 16 2021)
Last sale anchor
$43.59M
Apr 16 2021
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
$389 / 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
$292,656
Tax year 2023
Assessed value
$39,898,600
Assessed 2024
Previous assessed
$39,898,600
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$6,237,000
Assessed improvement
$33,661,600
Land market value
$6,237,000
Improvement market value
$33,661,600
Total market value
$39,898,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2019
Cooling
AC.PACKAGE
Stories
4
Total area
121,324 SF
Lot
3.93 ac (171,147 SF)
APN
12520235
UPID
US53-5366439
Jurisdiction
MECKLENBURG
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$48.9M
RESTAURANT
Est. value
$77.5M
OFFICE BUILDING
Est. value
$54.4M
RETAIL STORES
Est. value
$39.3M
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
2019
Cooling
Yes
Stories
4
Lot
3.93 ac
Current owner
From public records · entity-resolved
Weeltower Pappas Mob 2 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
4777 SHARON RD STE #550, CHARLOTTE, NC 28210-0101
Ownership since
2021
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
Apr 16, 2021
$43,585,500
Weeltower Pappas Mob 2 LLC
Pappas Midtown Mob Owner LLC
Special Warranty 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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