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Property profile & analytics
OFF-MARKET
Estimated value
$1,055,000
Grocery and convenience stores
103 Wilkes Dr Monroe, NC 28110-2999
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-5826511
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1988
Construction
WOOD
Total area
4,500 SF
Lot
0.89 ac (38,768 SF)
Zoning code
GB MONROE
APN
09-222-057E
UPID
US53-5826511
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
-
Orthodontist Dental Office
-
Citgo Gas Station
-
KIM'S ENTERPRISES Gas Station
-
Aerus Electrolux Home Appliance Store (Bike/Boat/Book/etc) Store
-
The Event Studio by BF Designs Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.11M
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$793k
Blend (final)
Blend
$1.06M
Owner & transaction history
Megh Property LLC · 2 yrs held
Megh Property LLC
since 2023
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
GB MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+82.6%
Commercial (general)
$1.0M
+53.1%
Office building
$820,000
+20.3%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$1,170,000
ML approach
$1,105,000
CAP Approach
CAP Return
Estimation
6%
$1,105,000
6.5%
$1,020,000
7%
$945,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$680,000
Current use
RETAIL STORES
$1,245,000
Change: +83% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,045,000
Change: +53% · Conversion: Easy
OFFICE BUILDING
$820,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$715,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $950k – $1.16M · ±10% · vs last sale $1.05M (Dec 14 2023)
Last sale anchor
$1.05M
Dec 14 2023
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
$234 / 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
$3,270
Tax year 2023
Assessed value
$299,900
Assessed 2023
Previous assessed
$299,900
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$116,800
Assessed improvement
$183,100
Land market value
$116,800
Improvement market value
$183,100
Total market value
$299,900
Applied tax rate
200.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
4,500 SF
Lot
0.89 ac (38,768 SF)
Zoning code
GB MONROE
APN
09-222-057E
UPID
US53-5826511
Jurisdiction
UNION
Zoning & alternative use
GB MONROE · Monroe, NC
Zoning GB MONROE · permitted uses
GB MONROE · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$680,000
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$715,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE 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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Megh Property LLC
Entity
Mailing address
3118 STEPHEN PACE TRL, HUNTERSVILLE, NC 28078-3910
Ownership since
2023
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
Dec 14, 2023
$1,050,000
Megh Property LLC
J And H Kim INC
Special Warranty Deed
$1,000,000 · Commonwealth Business Bank
Dec 14, 2023
—
Megh Property LLC
J And H Kim INC
Warranty Deed
—
Sep 20, 2013
$400,000
J & H Kim INC
Monroe Oil Co INC
Warranty Deed
$320,000 · First Intercontinental Bank
Feb 27, 2007
$450,000
Monroe Oil Co INC
Patel,pushpaben A
Warranty Deed
$200,000 · Pushpaben A Patel
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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