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Property profile & analytics
FOR SALE
Parking lots & garages
1055 Albemarle Rd Troy, NC 27371
Entity Owned
Free & Clear
Property ID
US53-4566210
For Sale
1 / 39
$895,000
1055 Albemarle Rd, Troy, NC 27371
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Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1983
Total area
14,557 SF
Lot
4.03 ac (175,547 SF)
Zoning code
COMMERCIAL GARAGE
APN
7528 19 71 1167
UPID
US53-4566210
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.13M
Owner & transaction history
MCRAE INDUSTRIES INC
MCRAE INDUSTRIES INC
Zoning & alternative use
COMMERCIAL GARAGE · Troy, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+27.9%
Retail stores
$1.3M
+10.0%
Office building
$1.3M
+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 Troy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Troy 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
PARKING LOT
$1,190,000
Current use
COMMERCIAL (GENERAL)
$1,520,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$1,310,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$1,295,000
Change: +9% · Conversion: Difficult
RESTAURANT
$1,155,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.02M – $1.24M · ±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
$78 / 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
Property tax & assessments
Assessed value
$811,821
Assessed 2024
Previous assessed
$811,821
+0.0% YoY
Assessed land
$284,900
Assessed improvement
$526,921
Land market value
$284,900
Improvement market value
$526,921
Total market value
$811,821
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Sale
Year built
1983
Heating
ZONE
Total area
14,557 SF
Lot
4.03 ac (175,547 SF)
Zoning code
COMMERCIAL GARAGE
APN
7528 19 71 1167
UPID
US53-4566210
Jurisdiction
MONTGOMERY
Zoning & alternative use
COMMERCIAL GARAGE · Troy, NCZoning COMMERCIAL GARAGE · permitted uses
COMMERCIAL GARAGE · Troy, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
PARKING LOT Current
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
RESTAURANT
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
1983
Heating
ZONE
Lot
4.03 ac
Current owner
From public records · entity-resolved
MCRAE INDUSTRIES INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1239, MOUNT GILEAD, NC 27306-1239
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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