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Property profile & analytics
OFF-MARKET
Estimated value
$21,490,000
Office buildings
1105 22nd SE St Hickory, NC 28602-9670
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1467557
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Total area
360,779 SF
Lot
35.72 ac (1,555,963 SF)
Zoning code
IND
APN
3722-13-03-5850
UPID
US53-1467557
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
-
Design Foundry Production Facility Factory
-
Raisethebar Athlete Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.71M
Blend (final)
Blend
$21.49M
Owner & transaction history
Foundry Industrial Nc LP · 3 yrs held
Foundry Industrial Nc LP
since 2022
Last sale
$22.5M
6 recorded transactions
Zoning & alternative use
IND · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities controlled by performance standards to limit the effect of such uses on uses within the district and on adjacent districts.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
4,774.62 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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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
$21,335,000
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
$31,355,000
Current use
COMMERCIAL (GENERAL)
$28,650,000
Change: -9% · Conversion: Easy
RETAIL STORES
$28,645,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$21.49M
Range $19.34M – $23.64M · ±10% · vs last sale $22.50M (Sep 27 2022)
Last sale anchor
$22.50M
Sep 27 2022
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
$60 / 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
$182,887
Tax year 2023
Assessed value
$21,850,300
Assessed 2023
Previous assessed
$21,850,300
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$936,400
Assessed improvement
$20,913,900
Land market value
$936,400
Improvement market value
$20,913,900
Total market value
$21,850,300
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
2000
Heating
HOT WATER
Cooling
CENTRAL
Units
1
Total area
360,779 SF
Lot
35.72 ac (1,555,963 SF)
Zoning code
IND
APN
3722-13-03-5850
UPID
US53-1467557
Jurisdiction
CATAWBA
Zoning & alternative use
IND · Hickory, NCZoning IND · permitted uses
IND · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities controlled by performance standards to limit the effect of such uses on uses within the district and on adjacent districts.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
4,774.62 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$31.4M
COMMERCIAL (GENERAL)
Est. value
$28.7M
RETAIL STORES
Est. value
$28.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2000
Heating
HOT WATER
Cooling
Yes
Units
1
Lot
35.72 ac
Current owner
From public records · entity-resolved
Foundry Industrial Nc LP
Entity
Mailing address
2900 LINDEN LN STE #300, SILVER SPRING, MD 20910-1265
Ownership since
2022
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
Sep 27, 2022
$22,500,000
Foundry Industrial Nc LP
Charis Foundry LLC
Special Warranty Deed
$13,500,000 · Equity Trust Life Ins Co
Mar 29, 2019
$11,000,000
Charis Foundry LLC
Baker Property & Land LLC
Grant Deed
—
Mar 28, 2017
$5,500,000
Baker Property & Land LLC
Kohler Co
Grant Deed
related
$50,000,000 · Branch Bk&tr/nc
Feb 28, 2017
—
Baker Property & Land LLC
Kohler Co
Grant Deed
—
Aug 8, 2006
—
Kohler Co
Corning Cable Systems LLC
Warranty Deed
related
—
Mar 30, 2006
—
Corning Cable Systems LLC
—
Deed Of Trust
related
$202,776,791 · Corning INC
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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