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Property profile & analytics
OFF-MARKET
Estimated value
$8,665,000
Retail space
Charlotte, NC 28210
Entity Owned
Free & Clear
Property ID
US53-5148852
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2019
Total area
40,544 SF
Lot
0.86 ac (37,264 SF)
Zoning code
MUDD-O
APN
18314150
UPID
US53-5148852
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.45M
Comparable Approach
Comparable
$5.34M
Blend (final)
Blend
$8.67M
Owner & transaction history
Spc Retail LLC
Spc Retail LLC
since 2025
2 recorded transactions
Zoning & alternative use
MUDD-O · Charlotte, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Mixed Use Development District encourages mixed use development and its accompanying support commercial and office uses while maintaining a strong emphasis on pedestrian scale, urban development, and amenities, when the applicant might wish to file an innovative urban rezoning petition which addresses new development concepts, innovative design, special…
Zone name
Mixed Use Development Optional
General category
MIXED_USE
Zone area
2,464.30 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$11,315,000
6.5%
$10,445,000
7%
$9,700,000
Alternative Use
Use
Estimation
RETAIL STORES
$13,130,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$12,120,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,565,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$8.67M
Range $7.80M – $9.53M · ±10%
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
$214 / 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
$97,049
Tax year 2023
Assessed value
$13,231,000
Assessed 2024
Previous assessed
$13,231,000
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$3,457,700
Assessed improvement
$9,773,300
Land market value
$3,457,700
Improvement market value
$9,773,300
Total market value
$13,231,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2019
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
40,544 SF
Lot
0.86 ac (37,264 SF)
Zoning code
MUDD-O
APN
18314150
UPID
US53-5148852
Jurisdiction
MECKLENBURG
Zoning & alternative use
MUDD-O · Charlotte, NCZoning MUDD-O · permitted uses
MUDD-O · Charlotte, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Mixed Use Development District encourages mixed use development and its accompanying support commercial and office uses while maintaining a strong emphasis on pedestrian scale, urban development, and amenities, when the applicant might wish to file an innovative urban rezoning petition which addresses new development concepts, innovative design, special problems, public/private ventures and other unique proposals or circumstances which cannot be accommodated by the standards of MUDD
Zone name
Mixed Use Development Optional
General category
MIXED_USE
Zone area
2,464.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$13.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.1M
AUTO REPAIR, GARAGE
Est. value
$10.6M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.86 ac
Current owner
From public records · entity-resolved
Spc Retail LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4725 PIEDMONT ROW DR STE #800, CHARLOTTE, NC 28210-4284
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2025
$144,800,000
Spc Retail LLC
Phillips Place Owner II LLC
Special Warranty Deed
—
Feb 10, 2022
—
Phillips Place Owner II LLC
Phillips Place Owner LLC
Intrafamily Transfer
related
$65,000,000 · Townebank
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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