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Property profile & analytics
OFF-MARKET
Estimated value
$2,865,000
Drug stores
10 Pitts School SW Rd Concord, NC 28027-3931
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US53-1436671
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,201 SF
Lot
1.91 ac (83,200 SF)
Zoning code
C-2
APN
5509 33 5521
UPID
US53-1436671
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Julie B. Ragan, RPh Pharmacy
-
Kathryn C. Christenson, PharmD Pharmacy
-
Cardtronics ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.58M
Comparable Approach
Comparable
$3.07M
Blend (final)
Blend
$2.87M
Owner & transaction history
James Michael Gay · 19 yrs held
James Michael Gay
since 2007
4 recorded transactions
Zoning & alternative use
C-2 · Concord, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.1M
+104.6%
Medical building
$3.4M
+67.1%
Auto repair, garage
$2.2M
+8.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Concord submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Concord submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,880,000
6.5%
$3,580,000
7%
$3,325,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,010,000
Current use
COMMERCIAL (GENERAL)
$4,115,000
Change: +105% · Conversion: Easy
MEDICAL BUILDING
$3,360,000
Change: +67% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,190,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$2.87M
Range $2.58M – $3.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$188 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$42,991
Tax year 2024
Assessed value
$4,316,350
Assessed 2024
Previous assessed
$3,708,520
+16.4% YoY
Effective rate
1.00%
On assessed value
Assessed land
$2,055,030
Assessed improvement
$2,261,320
Land market value
$2,055,030
Improvement market value
$2,261,320
Total market value
$4,316,350
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
15,201 SF
Lot
1.91 ac (83,200 SF)
Zoning code
C-2
APN
5509 33 5521
UPID
US53-1436671
Jurisdiction
CABARRUS
Zoning & alternative use
C-2 · Concord, NC
Zoning C-2 · permitted uses
C-2 · Concord, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Concord. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.91 ac
Current owner
From public records · entity-resolved
James Michael Gay
Individual
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2017
—
Haywood West Odell LLC
—
Deed
related
$800,000 · Paragon Com'l Bk
May 30, 2007
$5,450,000
James Michael Gay
Dill Acquisitions LLC
Warranty Deed
$490,000 · Paragon Commercial Bank
—
—
Haywood West Odell LLC
—
Loan Modification
related
$142,876 · Paragon Com'l Bk
—
—
Haywood West Odell LLC
—
Loan Modification
related
$800,000 · Paragon Com'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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