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Property profile & analytics
OFF-MARKET
Estimated value
$3,180,000
Office buildings
1011 Folger Dr, Statesville, NC 28625-6274
Entity Owned
8-yr Hold
Free & Clear
Property ID
US53-1109212
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Construction
STEEL FRAME
Total area
22,248 SF
Lot
5.19 ac (226,294 SF)
Zoning code
B-4
APN
4744-73-5397.000
UPID
US53-1109212
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
-
Randy Marion Mitsubishi Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$3.18M
Owner & transaction history
6k Properties LLC · 8 yrs held
6k Properties LLC
since 2017
7 recorded transactions
Zoning & alternative use
B-4 · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.3M
+92.3%
Retail stores
$3.4M
+48.4%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,260,000
Current use
MEDICAL BUILDING
$4,340,000
Change: +92% · Conversion: Easy
RETAIL STORES
$3,350,000
Change: +48% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,160,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$3.18M
Range $2.86M – $3.50M · ±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
$143 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$29,136
Tax year 2023
Assessed value
$2,863,240
Assessed 2023
Previous assessed
$2,413,180
+18.7% YoY
Effective rate
1.02%
On assessed value
Assessed land
$1,246,800
Assessed improvement
$1,616,440
Land market value
$1,246,800
Improvement market value
$1,616,440
Total market value
$2,863,240
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1975
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Rooms
2
Bathrooms
6
Total area
22,248 SF
Lot
5.19 ac (226,294 SF)
Zoning code
B-4
APN
4744-73-5397.000
UPID
US53-1109212
Jurisdiction
IREDELL
Zoning & alternative use
B-4 · Statesville, NC
Zoning B-4 · permitted uses
B-4 · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$4.3M
RETAIL STORES
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$2.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1975
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Rooms
2
Bathrooms
6
Lot
5.19 ac
Current owner
From public records · entity-resolved
6k Properties LLC
Entity
Free & Clear · 8 yrs held
Mailing address
PO BOX 1559, MOORESVILLE, NC 28115-1559
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2020
—
6k Properties LLC
—
Deed
related
$20,629,500 · United Bk
Nov 3, 2017
—
6k Properties LLC
—
Deed
related
$2,720,000 · Capital Bk
Jul 20, 2017
$13,000
6k Properties LLC
Randy Marion Ford Lincoln LLC
Warranty Deed
—
May 12, 2017
$3,200
Randy Marion Ford Lincoln LLC
Brettjo LLC
Warranty Deed
—
May 7, 2008
$3,750,000
Brettjo LLC
Bertolami Family
Warranty Deed
$3,187,500 · Branch Banking & Trust Co
—
—
Brettjo LLC
—
Deed Of Trust
related
$2,425,000 · Peoples Bk
—
—
6k Properties LLC
—
Deed Of Trust
related
$2,720,000 · Capital Bk
—
—
6k Properties LLC
—
Deed Of Trust
related
$20,629,500 · United 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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