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

    Charlotte, NC 28205

    • Office buildings
    • 73,702 SF
    • 14.32 lot acres
    OFF-MARKET
    Value Estimations
    $24,170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1473311
    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

    • Office buildings

    Property Details

    Year built
    1957
    Lot size
    14.32 lot acres
    Property size
    73,702 SF
    Zone code
    O1
    Property type
    Office buildings
    APN
    12902101
    APU
    12902101

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $20,235,000
      6.5%
      $18,680,000
      7%
      $17,345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $30,379,000
      Market price range: $8.82M - $30.4M
      AI Estimate
      $23,454,000
      Market price range: $8.08M - $23.5M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $19,320,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $35,420,000
      Change: +83% Conversion: Easy
      MEDICAL BUILDING
      $29,705,000
      Change: +54% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $22,030,000
      Change: +14% Conversion: Difficult
      RETAIL STORES
      $20,060,000
      Change: +4% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $19,205,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8057
    Latitude
    35.2186
    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
    $202,321
    $20,020,200
    $7,562,700
    $27,582,900
    -
    $20,020,200
    $7,562,700
    $27,582,900

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      2013 Bay St

      OFFICE BUILDING • 0.09 Acres
      2013 Bay St, Charlotte, NC 28205-5001
      View Details
    • Value Estimation
      $810,000
      6,065 SF

      2520 Sharon Amity Rd

      OFFICE BUILDING • 6,065 SF
      2520 Sharon Amity Rd, Charlotte, NC 28205-7461
      View Details
    • Value Estimation by Request
      1,150 SF

      4927 Monroe Rd

      OFFICE BUILDING • 1,150 SF
      4927 Monroe Rd, Charlotte, NC 28205-7821
      View Details
    • Value Estimation
      $7,665,000
      36,696 SF

      4037 Independence Blvd

      OFFICE BUILDING • 36,696 SF
      4037 Independence Blvd, Charlotte, NC 28205
      View Details
    • Value Estimation
      $6,460,000
      27,555 SF

      1806 Central Ave

      OFFICE BUILDING • 27,555 SF
      1806 Central Ave, Charlotte, NC 28205-5110
      View Details
    • Value Estimation by Request
      1,200 SF

      2116 Eastway Dr

      OFFICE BUILDING • 1,200 SF
      2116 Eastway Dr, Charlotte, NC 28205-4015
      View Details

    Similar Nearby for Sale

    • $1,750,000
      0.60 Acres

      Versatile Commercial Office in Oakhurst

      Multi-use commercial office space in a prime Charlotte location.
      5101 Monroe Rd, Charlotte, NC 28205
      View Details
    • $575,000
      0.25 Acres

      Commercial Opportunity Near Uptown Charlotte

      Commercial property near Uptown Charlotte with flexible-use rooms and ample parking.
      738 Pierson Dr, Charlotte, NC 28205
      View Details
    • $550,000
      1,200 SF

      Professional Office Near Downtown Charlotte

      Professional office space located minutes from downtown Charlotte.
      539 Briar Creek Rd, Charlotte, NC 28205
      View Details
    • $675,000

      Freestanding Building in Plaza Hills

      Highly visible 1,020 SF building suitable for retail/office/medical use.
      2820 The Plz, Charlotte, NC 28205
      View Details
    • $456,500
      1,118 SF

      Office Building with Fenced Yard

      Office building featuring a fenced yard and outdoor storage.
      3826 Miriam Dr, Charlotte, NC 28205
      View Details
    • $1,050,000
      0.21 Acres

      NoDa Office & Land Investment

      Prime NoDa Location, High Growth Area
      2420 Brevard St, Charlotte, NC 28205
      View Details

    Similar Nearby for Lease

    • $3,085 /Mo
      7,841 SF

      Office Building in Plaza Midwood

      Office building in the heart of Plaza Midwood, Charlotte, NC.
      1323 The Plz, Charlotte, NC 28205
      View Details
    • $675,000
      1,102 SF

      Office Building in Plaza Hills

      Office space in high-growth area near NoDa and Plaza Midwood.
      2808 The Plz, Charlotte, NC 28205
      View Details
    • Contact for pricing
      2,480 SF

      Plaza Midwood Medical Office Space

      2,480 SF Medical Office - Charlotte, NC
      1111 The Plz, Charlotte, NC 28205
      View Details
    • $9,995,000
      14,253 SF

      Prime Plaza Midwood Office Space

      Class A office space for lease in Plaza Midwood.
      1227-1233 The Plz, Charlotte, NC 28205
      View Details
    • $53 SF/Yr
      28,571 SF

      Office Space Available For Rent

      Office space available for lease in Charlotte, North Carolina.
      1332 Central Ave, Charlotte, NC 28205
      View Details
    • $1,100 /Mo
      44 SF

      Office Space in Charlotte, NC

      Office space featuring private offices and a conference room.
      2436 N Sharon Amity Rd, Charlotte, NC 28205
      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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