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    Cornelius, NC 28031
    Property profile & analytics

    , Cornelius, NC 28031

    View on Map
    • Office buildings
    • 2,762 SF
    • 4.54 lot acres
    Off-Market
    Last Sale Oct 20, 2021
    $1,545,000
    Property ID
    US53-0863485
    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.
    Value Estimations
    $1,670,000
    Show details
    Cap Rate Potential
    2.8%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details

    Year built
    1970
    Lot size
    4.54 lot acres
    Zone code
    CZ(MPD)
    Property type
    Office buildings
    APN
    524320
    APU
    524320

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 20, 2021 — Nantz Rod Investments LLC The Howey Co INC Warranty Deed —
    Oct 20, 2021 $1,545,000 Nantz Road Investments LLC The Howey Co INC Special Warranty Deed —
    May 8, 2019 $50,000 B V Belk JR. Howey Co INC Warranty Deed —
    Jul 29, 2003 — B V Belk Conbraco Industries INC Quit Claim Deed · related —
    — — Howey Co INC — Deed Of Trust · related $1.3M · Newdominion Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,825,000
      ML approach
      $1,765,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,785,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.89
    Latitude
    35.4707
    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
    $3,621
    $560,400
    $0.00
    $560,400
    -
    $560,400
    $0.00
    $560,400

    Comparable in this City

    • Value Estimation
      $1,935,000
      6,401 SF

      18019 Old Statesville Rd

      OFFICE BUILDING
      18019 Old Statesville Rd, Cornelius, NC 28031-9057
      View Details
    • Value Estimation
      $5,785,000
      21,167 SF

      19510 Jetton Rd

      OFFICE BUILDING
      19510 Jetton Rd, Cornelius, NC 28031-8199
      View Details
    • Value Estimation
      $4,945,000
      22,681 SF

      17036 Kenton Dr

      OFFICE BUILDING
      17036 Kenton Dr, Cornelius, NC 28031-5772
      View Details
    • Value Estimation by Request
      1,856 SF

      20605 Main St

      OFFICE BUILDING
      20605 Main St, Cornelius, NC 28031-8454
      View Details
    • Value Estimation
      $2,310,000
      9,279 SF

      19721 Bethel Church Rd

      OFFICE BUILDING
      19721 Bethel Church Rd, Cornelius, NC 28031-4055
      View Details
    • Value Estimation
      $1,190,000
      6,960 SF

      19453 Catawba Ave

      OFFICE BUILDING
      19453 Catawba Ave, Cornelius, NC 28031-4021
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,135 SF

      Renovated Office Building

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      View Details
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      Commercial Building with Expansion Potential

      Well-maintained commercial building in Cornelius, NC with expansion possibilities.
      19625 Bethel Church Rd, Cornelius, NC 28031
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      3,344 SF

      Retail/Office Building in Cornelius

      3344 SF retail/office building for sale in prime location.
      20733 Catawba Ave, Cornelius, NC 28031
      View Details
    • $400,000

      Versatile Commercial Office Condo

      Commercial office condo in prime Cornelius location, turnkey opportunity.
      19701 Bethel Church Rd, Cornelius, NC 28031
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      Cornelius Mixed-Use Investment Opportunity

      Prime location near downtown Cornelius, suitable for various ventures.
      19428 Zion Ave, Cornelius, NC 28031
      View Details
    • Contact for pricing
      2,119 SF

      Cornelius Retail/Office Investment Opportunity

      Turn-key retail/office property in Cornelius, NC, with development potential.
      19428 Zion Ave, Cornelius, NC 28031
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    Similar Nearby for Lease

    • Contact for pricing
      2,145 SF

      Class A Office Building

      Two-story office building with ample parking and signage opportunities.
      19410 Jetton Rd, Cornelius, NC 28031
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease.
      20035 Jetton Rd, Cornelius, NC 28031
      View Details
    • $900 /Mo

      Renovated Office Condo For Lease

      Recently renovated office condo with shared amenities in Cornelius, NC.
      8226 Village Harbor Dr, Cornelius, NC 28031
      View Details
    • $25 SF/Yr
      74,052 SF

      Cornelius Office Space For Rent

      First-floor office space with customization options in Cornelius, NC.
      19520 W Catawba Ave, Cornelius, NC 28031
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Prime retail and office spaces for lease in Lake Norman.
      19501 W Catawba Ave, Cornelius, NC 28031
      View Details
    • Sponsored
      Contact for pricing

      Lake Norman

      Discover many ways to work your way in Lake Norman
      19109 Catawba Ave, Cornelius, NC 28031
      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.

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    Cornelius, NC, 28031
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