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

    Charlotte, NC 28217

    • Commercial land
    • 84,934 SF
    • 2.58 lot acres
    OFF-MARKET
    Last Sale
    Jun 17, 2022
    $15,350,000
    Value Estimations
    $16,705,000
    Show details
    Cap Rate Potential
    8%
    Commercial land
    Location Intelligence
    Property ID
    US53-5738723
    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

    • Commercial land

    Property Details

    Year built
    1974
    Lot size
    2.58 lot acres
    Property size
    84,934 SF
    Zone code
    B1
    Property type
    Commercial land
    APN
    14513304
    APU
    14513304

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,825,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $21,020,000
      6.5%
      $19,405,000
      7%
      $18,020,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,599,000
      Market price range: $12.1M - $128M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8814
    Latitude
    35.1962
    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
    $24,249
    $3,305,900
    $0.00
    $3,305,900
    -
    $3,305,900
    $0.00
    $3,305,900

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      6636 Ss Blvd

      VACANT COMMERCIAL LAND • 0.02 Acres
      6636 Ss Blvd, Charlotte, NC 28217
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    • Value Estimation by Request
      2.44 Acres

      Charlotte Park Dr

      VACANT COMMERCIAL LAND • 2.44 Acres
      Charlotte Park Dr, Charlotte, NC 28217
      View Details
    • Value Estimation by Request
      17.96 Acres

      8028 Steele Crk Rd

      VACANT COMMERCIAL LAND • 17.96 Acres
      8028 Steele Crk Rd, Charlotte, NC 28217-3005
      View Details
    • Value Estimation
      $1,980,000
      4.07 Acres

      232 Woodlawn Rd

      VACANT COMMERCIAL LAND • 1,430 SF
      232 Woodlawn Rd, Charlotte, NC 28217
      View Details
    • Value Estimation by Request
      0.96 Acres

      7954 Nations Frd Rd

      VACANT COMMERCIAL LAND • 0.96 Acres
      7954 Nations Frd Rd, Charlotte, NC 28217-8020
      View Details
    • Value Estimation by Request
      1.77 Acres

      1507 Shopton Rd

      VACANT COMMERCIAL LAND • 1.77 Acres
      1507 Shopton Rd, Charlotte, NC 28217-3127
      View Details

    Similar Nearby for Sale

    • $800,000

      Shopton Road Commercial Land Available

      Commercial land for sale with convenient access to major highways.
      4704 Shopton Rd, Charlotte, NC 28217
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    • $3,000,000
      6.22 Acres

      Prime Land in Charlotte, NC

      High-visibility land with development potential near I-485 and retail.
      8151 Steele Creek Rd, Charlotte, NC 28217
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    • $900,000
      78,582 SF

      Land at Signalized Intersection

      Land with high visibility at a signalized intersection.
      6438 S Tryon St, Charlotte, NC 28217
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    • $2,800,000
      9.47 Acres

      Prime Commercial Land Opportunity

      Multi-access commercial land for development in Charlotte, NC.
      218 Sequoia Pl, Charlotte, NC 28217
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    • $3,000,000
      6.22 Acres

      Prime Commercial Land, Charlotte

      Undeveloped acreage with high traffic and visibility near I-485.
      8151 Steele Creek Rd, Charlotte, NC 28217
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    • $675,000

      Commercial Land on Tryon Street

      Cleared commercial land with high visibility and utilities available.
      7612 S Tryon St, Charlotte, NC 28217
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    Similar Nearby for Lease

    • Contact for pricing

      Land and Warehouse Opportunity

      Land and warehouse available for lease in growing area.
      4413 Yancey Rd, Charlotte, NC 28217
      View Details
    • $1,700 /Mo

      Land for Ground Lease

      Commercial land available for ground lease near Nations Crossing.
      4805 Nations Crossing Rd, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Commercial land available for rent in excellent location.
      Griffith Rd, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Signalized Corner Land for Lease

      Commercial land for lease with high visibility and traffic.
      100 E Woodlawn Rd, Charlotte, NC 28217
      View Details
    • Contact for pricing
      10,000 SF

      South End Industrial Ground Lease

      ±0.53 Acres, 10,000 SF Warehouse
      305 Clanton Rd, Charlotte, NC 28217
      View Details
    • Contact for pricing

      Yancey Road Commercial Land Opportunity

      0.9-acre lot, I-2 zoning, high growth potential.
      4413 Yancey Rd, Charlotte, NC 28217
      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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