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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Strip malls
1103 Icemorlee St Monroe, NC 28110-2688
Individually Owned
1-yr Hold
Free & Clear
Property ID
US53-3660148
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Total area
5,280 SF
Lot
0.87 ac (38,028 SF)
Zoning code
CD MONROE
APN
09-270-049
UPID
US53-3660148
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
-
Unity Worship Outreach Center Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$775k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$785k
Owner & transaction history
Kidz Connection Childcare Village L · 1 yrs held
Kidz Connection Childcare Village L
since 2025
Last sale
$799,000
7 recorded transactions
Zoning & alternative use
CD MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+53.1%
Industrial (general)
$1.1M
+38.8%
Office building
$965,000
+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
$760,000
ML approach
$775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$800,000
Current use
COMMERCIAL (GENERAL)
$1,225,000
Change: +53% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,110,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$965,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$835,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$785k
Range $707k – $864k · ±10% · vs last sale $799k (Jan 27 2025)
Last sale anchor
$799k
Jan 27 2025
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
$149 / 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
$4,092
Tax year 2023
Assessed value
$375,200
Assessed 2023
Previous assessed
$375,200
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$56,800
Assessed improvement
$318,400
Land market value
$56,800
Improvement market value
$318,400
Total market value
$375,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2007
Heating
YES
Stories
1
Units
1
Rooms
3
Bathrooms
1
Total area
5,280 SF
Lot
0.87 ac (38,028 SF)
Zoning code
CD MONROE
APN
09-270-049
UPID
US53-3660148
Jurisdiction
UNION
Zoning & alternative use
CD MONROE · Monroe, NC
Zoning CD MONROE · permitted uses
CD 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
$800,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
INDUSTRIAL (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
2007
Heating
YES
Stories
1
Units
1
Rooms
3
Bathrooms
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Kidz Connection Childcare Village L
Individual
Free & Clear · 1 yrs held
Mailing address
6450 MITCHELL HOLW RD, CHARLOTTE, NC 28277-4548
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2025
$799,000
Kidz Connection Childcare Village L
Southgate Properties LLC
Special Warranty Deed
—
Apr 14, 2022
—
Southgate Properties LLC
—
Deed
related
$162,303 · First Horizon Bank
Jul 31, 2020
$200,000
Southgate Properties LLC
1103 Icemorlee St LLC
Deed
$170,000 · American Bank Of The Carolinas
Nov 4, 2013
$264,000
1103 Icemorlee St LLC
Blackburne & Sons Realty Cap C
Grant Deed
—
Mar 27, 2009
—
Ernest P Bradley JR.
Bradley Construction Svcs INC
Quit Claim Deed
—
Oct 31, 2008
—
Bradley Construction Services INC
Prodev Xlv LLC
Warranty Deed
—
Aug 7, 2008
—
Prodev Xlv LLC
—
Trustees Deed
related
$12,000 · First Mount Vernon Ind'l Loan
Jul 12, 2007
—
Prodev Xlv LLC
Ernest Bradley
Warranty Deed
$250,000 · First Mount Vernon Industrial Loan
Mar 15, 2005
$45,000
Ernest Bradley
W Byrum Yow Mitchelene
Warranty Deed
$40,500 · American Home Mortgage Acceptance I
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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