Individually Owned Property summary
AI-generated overview
This exceptional value-add opportunity presents a 20,000-square-foot shopping center in Monroe, NC, situated on a 2.4-acre lot (APN: 09186014). The single-story, Class C property boasts 9 tenants with 92% occupancy, generating a substantial Net Operating Income (NOI) of $253,730 and a 6.77% cap rate. Priced at $3,750,000 ($187.50/sq ft), this fee-simple investment features a triple-net (NNN) lease structure with multi-tenancy. The property, built in 2002, benefits from recent renovations including a new roof and gutters (2023), HVAC unit replacements, and fresh paint (2024). The parking lot was restriped in June 2024. A shared monument sign is also available. Located on busy Highway 74, the center enjoys high visibility and traffic flow, enhanced by nearby shadow tenants. Shorter lease terms allow for rental adjustments, presenting significant value-add potential. Annual gross scheduled rent beginning December 1, 2024, is projected at $280,704. The property is zoned GB. This well-maintained asset offers immediate cash flow and future growth potential through rent increases and further improvements. One 1,600 sq ft unit is currently vacant.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Total area
20,000 SF
Lot
2.4 ac (104,544 SF)
Zoning code
GB MONROE
APN
09-186-014
UPID
US53-0270732
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hair Salon Nail Salon
-
Furniture & Home Goods Home Decor Store
-
Restaurant
-
Furniture & Home Goods
-
Pet Grooming Service
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$656k
Blend (final)
Blend
$670k
Owner & transaction history
since 2023
Last sale
$600,000
3 recorded transactions
Zoning & alternative use
GB MONROE · Monroe, NC
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.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$670k
Value range
$603k – $737k
±10% around blend
Estimated value / SF
$34 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$603k
blend $670k
$737k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
20,000 SF
Lot area
2.4 ac
Year built
1986
Stories
1
APN
09-186-014
Zoning
GB MONROE
Assessed value
$808,000
Annual tax
$8,811
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
$656k
Range $656k – $1.27M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$670k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 21 sales
$152
-78%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $34/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.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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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$600k
Move the market yield to see immediate price impact.
Value / SF
$30
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%
$38k
$756k
$540k
$420k
$42k
$840k
$600k
$467k
$46k
$924k
$660k
$513k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,811
Tax year 2023
Assessed value
$808,000
Assessed 2023
Previous assessed
$807,900
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$295,300
Assessed improvement
$512,700
Land market value
$295,300
Improvement market value
$512,700
Total market value
$808,000
Applied tax rate
200.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
20,000 SF
Lot
2.4 ac (104,544 SF)
Zoning code
GB MONROE
APN
09-186-014
UPID
US53-0270732
Jurisdiction
UNION
Zoning & alternative use
GB MONROE · Monroe, NCZoning GB MONROE · permitted uses
GB MONROE · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1986
Heating
YES
Cooling
Yes
Stories
1
Lot
2.4 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
GB MONROE
Jurisdiction
Monroe, NC
Recorded code
GB MONROE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for GB MONROE in Monroe, NC.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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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.
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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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