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Property profile & analytics
OFF-MARKET
Assisted living facilities
110 Greene Dr Shelby, NC 28150-6207
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-2759436
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1965
Total area
2,250 SF
Lot
0.91 ac (39,800 SF)
Zoning code
GB
APN
26161
UPID
US53-2759436
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
by Request
Owner & transaction history
David Wayne Westphalen · 3 yrs held
David Wayne Westphalen
since 2023
Last sale
$355,000
6 recorded transactions
Zoning & alternative use
GB · Shelby, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The GB business district is established as a district in which to accommodate a wide range of retail business, professional and personal services office and limited wholesale and warehousing uses, areas zoned as GB are generally located on the fringe of the central business district and along major highway corridors, residential uses are permitted at the sam…
Zone name
General Business
General category
COMMERCIAL
Zone area
1,307.36 ac
Source
Realmo
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 Shelby submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,660
Tax year 2024
Assessed value
$137,761
Assessed 2023
Previous assessed
$137,761
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$28,305
Assessed improvement
$109,456
Land market value
$28,305
Improvement market value
$109,456
Total market value
$137,761
Applied tax rate
5.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1965
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Total area
2,250 SF
Lot
0.91 ac (39,800 SF)
Zoning code
GB
APN
26161
UPID
US53-2759436
Jurisdiction
CLEVELAND
Zoning & alternative use
GB · Shelby, NCZoning GB · permitted uses
GB · Shelby, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The GB business district is established as a district in which to accommodate a wide range of retail business, professional and personal services office and limited wholesale and warehousing uses, areas zoned as GB are generally located on the fringe of the central business district and along major highway corridors, residential uses are permitted at the same density and according to the same dimensional requirements as the R6 residential district
Zone name
General Business
General category
COMMERCIAL
Zone area
1,307.36 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1965
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
David Wayne Westphalen
Individual
Mailing address
110 GRN DR, SHELBY, NC 28150
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2023
$355,000
David Wayne Westphalen
Patricia G Melancon
Warranty Deed
$269,500 · Homestar Financial Corp
Jan 21, 2021
—
Patricia G Melancon
Shawn Melancon
Quit Claim Deed
related
—
Jan 7, 2014
$37,100
Shawn Melancon
Citifinancial Svc INC
Grant Deed
—
Jan 2, 2014
$37,000
Shawn Melancon
Citifinancial Svcs INC
Grant Deed
—
May 8, 2013
$65,409
Citifinancial Services INC
Ingle Grady I
Trustees Deed
related
—
May 7, 2013
$65,000
Citifinancial Svcs INC
Dawkins,howard D
Grant Deed
related
—
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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