New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,315,000
High-rise multifamily apartments
111 Carolina Ave, Lexington, NC 27292-4372
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US53-1213716
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,568 SF
Lot
3.07 ac (133,729 SF)
Zoning code
TN
APN
11-117-0-00F-0034-B
UPID
US53-1213716
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
-
Hilltop Terrace Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.31M
Blend (final)
Blend
$2.32M
Owner & transaction history
Lexington Hilltop Historic LLC · 14 yrs held
Lexington Hilltop Historic LLC
since 2011
4 recorded transactions
Zoning & alternative use
TN · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.3M
+31.5%
Auto repair, garage
$2.8M
+12.6%
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
APARTMENT HOUSE (5+ UNITS)
$2,470,000
Current use
OFFICE BUILDING
$3,250,000
Change: +32% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,780,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,410,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,215,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$2,155,000
Change: -13% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,085,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$2.32M
Range $2.08M – $2.55M · ±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
$56 / 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
Assessed value
$1,324,580
Assessed 2023
Previous assessed
$1,324,580
+0.0% YoY
Land market value
$45,770
Improvement market value
$1,278,810
Total market value
$1,324,580
Applied tax rate
11.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Units
64
Bathrooms
2
Total area
41,568 SF
Lot
3.07 ac (133,729 SF)
Zoning code
TN
APN
11-117-0-00F-0034-B
UPID
US53-1213716
Jurisdiction
DAVIDSON
Zoning & alternative use
TN · Lexington, NC
Zoning TN · permitted uses
TN · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.5M
OFFICE BUILDING
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.2M
RETAIL STORES
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
64
Bathrooms
2
Lot
3.07 ac
Current owner
From public records · entity-resolved
Lexington Hilltop Historic LLC
Entity
Mailing address
448 DEPOT ST NE, CHRISTIANSBURG, VA 24073-2050
Ownership since
2011
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 21, 2011
$1,260,000
Lexington Hilltop Historic LLC
Lexington Hilltop Terrace LLC
Warranty Deed
$3,650,000 · Branch Banking And Trust Co
Mar 10, 2008
—
Lexington-hilltop Terrace LLC
Owner Name Unavailable
Warranty Deed
related
—
—
—
Lexington-hilltop Historic LLC
—
Deed Of Trust
related
$245,600 · Community Housing Ptrs Corp
—
—
Lexington-hilltop Historic LLC
—
Deed Of Trust
related
$510,040 · Florida Housing Finance Agency
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 111 Carolina Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
