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

    Charlotte, NC 28210

    • Turn key restaurants
    • 8,355 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2024
    $5,909,500
    Value Estimations
    $6,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0702471
    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

    • Isalis / Gift Shop / Boutique
    • Party City / Party Store / Balloon Store
    • Skunk Funk / Wholesaler / Clothing Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details

    Year built
    1992
    Lot size
    1.01 lot acres
    Property size
    8,355 SF
    Property type
    Turn key restaurants
    APN
    17901169
    APU
    17901169

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,910,000
      ML approach
      $5,910,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,483,000
      Market price range: $2.88M - $8.03M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $5,340,000
      Current use
      COMMERCIAL (GENERAL)
      $5,770,000
      Change: +8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7990185
    Latitude
    35.1173473
    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
    $37,585
    $4,150,500
    $973,600
    $5,124,100
    -
    $4,150,500
    $973,600
    $5,124,100

    Comparable in this City

    • Value Estimation
      $950,000
      51,204 SF

      6705 Phillips Pl Ct

      RESTAURANT • 51,204 SF
      6705 Phillips Pl Ct, Charlotte, NC 28210-2719
      View Details
    • Value Estimation
      $395,000
      5,196 SF

      10517 Park Rd

      RESTAURANT • 5,196 SF
      10517 Park Rd, Charlotte, NC 28210-8406
      View Details
    • Value Estimation
      $3,890,000
      7,832 SF

      10215 Park Rd

      RESTAURANT • 7,832 SF
      10215 Park Rd, Charlotte, NC 28210-7828
      View Details
    • Value Estimation
      $275,000
      2,213 SF

      101 Seneca Pl

      RESTAURANT • 2,213 SF
      101 Seneca Pl, Charlotte, NC 28210-2801
      View Details
    • Value Estimation by Request
      4,949 SF

      6700 Fairview Rd

      Restaurants • 4,949 SF
      6700 Fairview Rd, Charlotte, NC 28210
      View Details
    • Value Estimation
      $2,030,000
      3,692 SF

      4709 Sharon Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,692 SF
      4709 Sharon Rd, Charlotte, NC 28210-3327
      View Details

    Similar Nearby for Sale

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      3,813 SF

      Charlotte Office Building: $1.175M

      Prime Charlotte location, 3,813 sq ft, vacant.
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    • $235,000

      South Charlotte Condo with Updates

      Move-in ready condo with updated kitchen and private patio.
      2941 Heathstead Pl, Charlotte, NC 28210
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    • $755,000
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      SouthPark Office Condo For Sale

      Office condo in SouthPark, walking distance to Phillips Place & SouthPark Mall.
      6805 Fairview Rd, Charlotte, NC 28210
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    • New
      $1,599,000
      0.20 Acres

      New Townhome Portfolio in Charlotte

      Four new townhomes in South Charlotte near Blue Line Light Rail.
      8927 Sharonbrook Dr, Charlotte, NC 28210
      View Details
    • $175,000
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      South Park Condo Transformation Opportunity

      Condo in prime location, ideal for renovation or investment.
      6148 Heath Ridge Ct, Charlotte, NC 28210
      View Details
    • $789,000
      0.62 Acres

      Prime Homesite Near Southpark

      Infill homesite opportunity near Southpark, Charlotte.
      3011 Parkstone Dr, Charlotte, NC 28210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      58,483 SF

      The Plaza at Park 51: Prime Medical Office Space

      Charlotte, NC Medical Office Redevelopment
      10635 Park Rd, Charlotte, NC 28210
      View Details
    • Contact for pricing
      114,179 SF

      Quail Corners Retail Center

      Charlotte Retail Space Available Now
      0 Hamlin Park Dr. & Park Rd, Charlotte, NC 28210
      View Details
    • Contact for pricing

      Retail Shop Center in Southpark

      Specialty retail shop center located in the heart of Southpark.
      4717 Sharon Rd, Charlotte, NC 28210
      View Details
    • Contact for pricing
      1,280 SF

      Retail Space Near Medical Campus

      Retail space adjacent to redeveloped project and medical campus.
      10707 Park Rd, Charlotte, NC 28210
      View Details
    • Contact for pricing
      2,300 SF

      Retail Space in SouthPark Area

      Retail spaces available in specialty center near SouthPark Mall.
      4716-4724 Sharon Rd, Charlotte, NC 28210
      View Details
    • Contact for pricing
      79,508 SF

      Johnston Road Plaza Retail Space

      Charlotte Strip Center - 5,335 SF Available
      10110 Johnston Rd, Charlotte, NC 28210
      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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