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    Property profile & analytics

    Charlotte, NC 28262

    • Garden apartment buildings
    • 32,458 SF
    • 5.85 lot acres
    OFF-MARKET
    Value Estimations
    $915,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4236233
    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

    • Garden apartment buildings

    Property Details

    Year built
    2021
    Lot size
    5.85 lot acres
    Property size
    32,458 SF
    Property type
    Garden apartment buildings
    APN
    2903195
    APU
    2903195

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $915,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7275
    Latitude
    35.329
    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
    $61,497
    $1,527,700
    $6,856,400
    $8,384,100
    -
    $1,527,700
    $6,856,400
    $8,384,100

    Comparable in this City

    • Value Estimation
      $1,060,000
      27,138 SF

      17820 Halton Park Dr

      GARDEN APT, COURT APT (5+ UNITS) • 27,138 SF
      17820 Halton Park Dr, Charlotte, NC 28262-0694
      View Details
    • Value Estimation by Request
      54,183 SF

      2021 Summertime Dr

      GARDEN APT, COURT APT (5+ UNITS) • 54,183 SF
      2021 Summertime Dr, Charlotte, NC 28262-5594
      View Details
    • Value Estimation by Request
      1,854 SF

      2716 Seek St

      GARDEN APT, COURT APT (5+ UNITS) • 1,854 SF
      2716 Seek St, Charlotte, NC 28262-6997
      View Details
    • Value Estimation
      $18,345,000
      28,984 SF

      1115 Campus Pointe Ct

      GARDEN APT, COURT APT (5+ UNITS) • 28,984 SF
      1115 Campus Pointe Ct, Charlotte, NC 28262-0816
      View Details
    • Value Estimation
      $550,000
      10,440 SF

      320 Sawyers Ml Rd

      GARDEN APT, COURT APT (5+ UNITS) • 10,440 SF
      320 Sawyers Ml Rd, Charlotte, NC 28262-1868
      View Details
    • Value Estimation
      $1,050,000
      32,811 SF

      2320 Palmerston Rd

      GARDEN APT, COURT APT (5+ UNITS) • 32,811 SF
      2320 Palmerston Rd, Charlotte, NC 28262-1799
      View Details

    Similar Nearby for Sale

    • $228,900
      903 SF

      Lakeshore Village Condo with Lake Views

      Sunny 2-bedroom condo in University City with lake views.
      9037 J M Keynes Dr, Charlotte, NC 28262
      View Details
    • $242,500

      Renovated Townhome Near Light Rail

      Completely renovated 2-bedroom, 2-bathroom townhome near light rail.
      9035 J M Keynes Dr, Charlotte, NC 28262
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    • $1,200,000
      2.94 Acres

      Charlotte Land Development Opportunity

      2.94 acre multi-family development site with I-485 visibility.
      449 Lawrence Gray Rd, Charlotte, NC 28262
      View Details
    • $1,000,000
      1.96 Acres

      Charlotte Land Zoned N2-B

      Almost 2-acre property intended for multi-family development.
      1900 Mineral Springs Rd, Charlotte, NC 28262
      View Details
    • $255,000
      1,363 SF

      Charming Home with Fireplace

      Charming home featuring a fireplace and neutral color palette.
      3155 Golden Dale Ln, Charlotte, NC 28262
      View Details
    • Contact for pricing
      8.95 Acres

      Charlotte Commercial Land Opportunity

      8.95 Acres Near Motor Speedway
      000 Floyd Smith Office Park Dr, Charlotte, NC 28262
      View Details

    Similar Nearby for Lease

    • $240 SF/Yr
      415 SF

      Charlotte Coworking Office Space

      Premium Class A Office Suites Available
      10926 David Taylor Dr, Charlotte, NC 28262
      View Details
    • $26 SF/Yr
      84,800 SF

      University Place Executive Suites

      Class A Office Space, 1,430-5,715 SF
      8801 J M Keynes Dr, Charlotte, NC 28262
      View Details
    • Contact for pricing
      13,800 SF

      Office Space Near McCullough Station

      Office space for rent near McCullough LDR station.
      401 Mccullough Dr, Charlotte, NC 28262
      View Details
    • $29 SF/Yr
      2,291 SF

      Charlotte Office Space For Lease

      Office space available for lease in Charlotte, North Carolina.
      10735 David Taylor Dr, Charlotte, NC 28262
      View Details
    • Contact for pricing

      Retail Center Near University Area

      Regional retail center with high visibility and transit access.
      8960 J M Keynes Dr, Charlotte, NC 28262
      View Details
    • Contact for pricing
      71,801 SF

      Available Office Space For Rent

      Office space available immediately with quick highway access and ample parking.
      1000 Louis Rose Pl, Charlotte, NC 28262
      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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