Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    62 Pne Ln Hickory, NC 28601-8374

    • Garden apartment buildings
    • 3,140 SF
    • 1.10 lot acres
    OFF-MARKET
    Last Sale
    Feb 19, 2021
    $85,000
    Value Estimations
    $95,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5056168
    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 for 62 Pne Ln

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.10 lot acres
    Property size
    3,140 SF
    Zone code
    RA-20
    Property type
    Garden apartment buildings
    APN
    5171
    APU
    5171

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Alexander
    State
    North Carolina
    Longitude
    -81.3028
    Latitude
    35.8221
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC 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
    2024
    $3,361
    $30,250
    $441,139
    $471,389
    -
    $30,250
    $441,139
    $471,389

    Comparable in this City

    • Value Estimation by Request
      20,436 SF

      3000 6th NE St

      GARDEN APT, COURT APT (5+ UNITS) • 20,436 SF
      3000 6th NE St, Hickory, NC 28601-1289
      View Details
    • Value Estimation by Request
      8,992 SF

      1930 20th Ave NE Dr

      GARDEN APT, COURT APT (5+ UNITS) • 8,992 SF
      1930 20th Ave NE Dr, Hickory, NC 28601-0609
      View Details
    • Value Estimation by Request
      17,456 SF

      1017 10th NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 17,456 SF
      1017 10th NE Ave, Hickory, NC 28601-4016
      View Details
    • Value Estimation by Request
      5,884 SF

      545 12th NE Ave, Unit A

      GARDEN APT, COURT APT (5+ UNITS) • 5,884 SF
      545 12th NE Ave, Hickory, NC 28601-2785
      View Details
    • Value Estimation by Request
      7,470 SF

      1365 5th St Nea

      GARDEN APT, COURT APT (5+ UNITS) • 7,470 SF
      1365 5th St Nea, Hickory, NC 28601-2000
      View Details
    • Value Estimation by Request
      7,630 SF

      3900 1st N Ctr St

      GARDEN APT, COURT APT (5+ UNITS) • 7,630 SF
      3900 1st N Ctr St, Hickory, NC 28601
      View Details

    Similar Nearby for Sale

    • $999,000
      1.13 Acres

      Hickory, NC Commercial Land Investment

      High-growth area, multiple development parcels.
      2633 Springs Rd, Hickory, NC 28601
      View Details
    • $799,900

      Spacious Townhome with Dual Suites

      Low-maintenance townhome with multiple primary suites and lake views.
      2137 6Th St NW, Hickory, NC 28601
      View Details
    • $759,000
      0.56 Acres

      Hickory Commercial Building Investment

      Two-Unit Warehouse, Prime Location
      1707 10Th Ave, Hickory, NC 28601
      View Details
    • $1,750,000

      Hickory Commercial Land - $1.75M

      Prime Hickory commercial lot, high traffic, development ready.
      2152 Center St, Hickory, NC 28601
      View Details
    • $249,000
      0.60 Acres

      Hickory Commercial Land - $249K

      0.6-acre lot, prime Hickory location. IO Zoning.
      306 11Th Ave, Hickory, NC 28601
      View Details
    • Contact for pricing
      1.70 Acres

      Hickory, NC Land Opportunity

      Two lots in Burke County with underground utilities.
      2488 And 12, Hickory, NC 28601
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      9,354 SF

      Prime Hickory Office Space

      Downtown Hickory office suites, 7 available.
      200 1St Ave, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Outparcel Opportunity Available

      Retail or restaurant site available in Hickory's premier shopping center.
      3020 N Center St, Hickory, NC 28601
      View Details
    • $69 SF/Yr
      6,000 SF

      Prime Catawba County Industrial Space

      6,000 SF Office/Warehouse - Available Now
      1700 11Th Ave, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Space in Hickory, NC

      Retail spaces available for lease in Hickory's prominent retail area.
      Hickory, NC 28601
      View Details
    • $2,500 /Mo
      28,750 SF

      Hickory Retail Space For Rent

      Versatile retail space on high-traffic Springs Road in Hickory, NC.
      2906 Springs Rd NE, Hickory, NC 28601
      View Details
    • $17 SF/Yr
      1,653 SF

      Retail Space in Hickory

      Retail space in busy NW Hickory shopping district.
      2923 N Center St, Hickory, NC 28601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 Pne Ln
    Hickory, NC 28601-8374
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.