Entity Owned 
For Sale
1 / 15
$229,900
1 N State St, Lexington, NC 27292
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Property summary
AI-generated overview
The property is the historic Grimes Brothers Mill building located near the center of downtown Lexington, North Carolina. It is a four-story brick structure with a total building area of approximately 4,080 square feet.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,720 SF
Lot
0.09 ac (3,920 SF)
Zoning code
U
APN
11-054-0-00D-0005-C
UPID
US53-1561780
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$90k
Owner & transaction history
since 2016
1 recorded transaction
Zoning & alternative use
U · Lexington, NC
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental act…
General category
CIVIC_INSTITUTIONAL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$90k
Value range
$81k – $99k
±10% around blend
Estimated value / SF
$33 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
$81k
blend $90k
$99k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,720 SF
Lot area
0.09 ac
Year built
1890
Stories
3
APN
11-054-0-00D-0005-C
Zoning
U
Assessed value
$66,910
Annual tax
$1,010
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$179k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.2 mi away · 3,262 SF
2.4 mi away · 3,034 SF
5.7 mi away · 3,296 SF
5.7 mi away · 1,950 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$90k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 44 sales
$53
-38%
Submarket 64 sales
$60
-44%
County 130 sales
$65
-49%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $33/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$67k
Move the market yield to see immediate price impact.
Value / SF
$25
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$4k
$84k
$60k
$47k
$5k
$94k
$67k
$52k
$5k
$103k
$74k
$57k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$260k
1.2 mi · Feb 2026 · $90/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,010
Tax year 2023
Assessed value
$66,910
Assessed 2023
Previous assessed
$66,910
+0.0% YoY
Effective rate
1.51%
On assessed value
Land market value
$27,440
Improvement market value
$39,470
Total market value
$66,910
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
3
Total area
2,720 SF
Lot
0.09 ac (3,920 SF)
Zoning code
U
APN
11-054-0-00D-0005-C
UPID
US53-1561780
Jurisdiction
DAVIDSON
Zoning & alternative use
U · Lexington, NCZoning U · permitted uses
U · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental act…
General category
CIVIC_INSTITUTIONAL
Building & site characteristics
From public records
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
3
Lot
0.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
U
CIVIC_INSTITUTIONAL
Jurisdiction
Lexington, NC
Recorded code
U
Official district
U
Official district profile
What the municipal code says about U
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental act…
General category
CIVIC_INSTITUTIONAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for U in Lexington, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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