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

    Charlotte, NC 28227

    • Individual retail properties
    • 17,929 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Sep 11, 2023
    $4,000,000
    Value Estimations
    $4,280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1856904
    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

    • Individual retail properties

    Property Details

    Lot size
    0.72 lot acres
    Property size
    17,929 SF
    Property type
    Individual retail properties
    APN
    19518263
    APU
    19518263

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,280,000
      ML approach
      $4,360,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,575,000
      COMMERCIAL (GENERAL)
      $3,490,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.6579
    Latitude
    35.1716
    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
    $18,710
    $446,600
    $2,233,500
    $2,680,100
    -
    $446,600
    $2,233,500
    $2,680,100

    Comparable in this City

    • Value Estimation
      $350,000
      2,428 SF

      Matthews, NC 28227

      FINANCIAL BUILDING • 2,428 SF
      Matthews, NC 28227
      View Details
    • Value Estimation by Request
      1.37 Acres

      & I-485 Albemarle Rd

      Individual retail properties • 1.37 Acres
      & I-485 Albemarle Rd, Charlotte, NC 28227
      View Details
    • Value Estimation
      $245,000
      8,509 SF

      Matthews, NC 28227

      FINANCIAL BUILDING • 8,509 SF
      Matthews, NC 28227
      View Details
    • Value Estimation
      $355,000
      5,410 SF

      Matthews, NC 28227

      FINANCIAL BUILDING • 5,410 SF
      Matthews, NC 28227
      View Details
    • Value Estimation
      $895,000
      3,484 SF

      7221 Albemarle Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,484 SF
      7221 Albemarle Rd, Charlotte, NC 28227-8130
      View Details
    • Value Estimation
      $460,000
      8,350 SF

      11529 Lawyers Rd

      FINANCIAL BUILDING • 8,350 SF
      11529 Lawyers Rd, Mint Hill, NC 28227-1509
      View Details

    Similar Nearby for Sale

    • $2,495,000
      8,784 SF

      Prime Charlotte Storefront

      8,784 SF Retail Space, High Traffic
      7511 Independence Blvd, Charlotte, NC 28227
      View Details
    • $775,000

      Prime Development Site in Mint Hill

      1.285-acre site ideal for medical, retail, or office development.
      4317 Wilgrove Mint Hill Rd, Mint Hill, NC 28227
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    • $2,495,000
      8,784 SF

      Retail Space on Independence Blvd

      Retail space for sale on a highly traveled highway.
      7511 E Independence Blvd, Charlotte, NC 28227
      View Details
    • Contact for pricing

      65 Acres Industrial Land I-485

      65-acre industrial land tract with I-485 frontage in Mint Hill.
      10501 Truelight Church Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      177-Acre Master Planned Business Park

      177-acre business park with GI zoning and outdoor storage.
      10701 Blair Rd, Mint Hill, NC 28227
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    • $215,000

      Wooded Home Site in Cheval

      Serene, natural setting in Creekside at Cheval neighborhood.
      3900 Piaffe Ave, Mint Hill, NC 28227
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    Similar Nearby for Lease

    • $3,000,000
      12,464 SF

      Crown Point Retail/Flex Opportunity

      Retail/flex space in mixed-use development, convenient location.
      2200 Crown Centre Dr, Charlotte, NC 28227
      View Details
    • Contact for pricing
      12,000 SF

      Retail Showroom Space For Lease

      Retail showroom space with dock door, easy highway access.
      2408-2500 Sardis Rd N, Charlotte, NC 28227
      View Details
    • $20 SF/Yr
      2,400 SF

      Retail Space on Albemarle Road

      High-visibility retail space with ample parking and flexible floor plan.
      9238-9252 Albemarle Rd, Charlotte, NC 28227
      View Details
    • Contact for pricing

      Retail/Restaurant Space in Charlotte, NC

      Retail or restaurant space available in Charlotte, NC.
      Albemarle Rd & Rocky Riv Church Rd, Charlotte, NC 28227
      View Details
    • Contact for pricing
      2,087 SF

      Retail Space Near Publix

      Retail and restaurant spaces available in Publix-anchored development.
      12809 Albemarle Rd, Charlotte, NC 28227
      View Details
    • Contact for pricing
      139,361 SF

      Independence Square Retail Space

      Charlotte, NC retail space available.
      7323 Independence Blvd, Charlotte, NC 28227
      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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