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Property profile & analytics
OFF-MARKET
Estimated value
$5,835,000
Office buildings
1123 Industrial SW Dr Conover, NC 28613-2754
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-1606121
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Total area
62,250 SF
Lot
14.14 ac (615,938 SF)
Zoning code
M-1
APN
3731-07-59-3339
UPID
US53-1606121
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
-
Amphenol Antenna Solutions Industrial Manufacturer Production Facility
-
C & S Antennas Inc Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.82M
Blend (final)
Blend
$5.84M
Owner & transaction history
Spartan Group LLC · 6 yrs held
Spartan Group LLC
since 2019
4 recorded transactions
Zoning & alternative use
M-1 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$7.3M
+28.5%
Auto repair, garage
$6.3M
+11.8%
Retail stores
$6.0M
+6.0%
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
OFFICE BUILDING
$5,670,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,285,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,345,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$6,015,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$5.84M
Range $5.25M – $6.42M · ±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
$94 / 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
$31,081
Tax year 2023
Assessed value
$3,917,000
Assessed 2023
Previous assessed
$3,917,000
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$399,000
Assessed improvement
$3,518,000
Land market value
$399,000
Improvement market value
$3,518,000
Total market value
$3,917,000
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
1994
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
62,250 SF
Lot
14.14 ac (615,938 SF)
Zoning code
M-1
APN
3731-07-59-3339
UPID
US53-1606121
Jurisdiction
CATAWBA
Zoning & alternative use
M-1 · Conover, NC
Zoning M-1 · permitted uses
M-1 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$6.3M
RETAIL STORES
Est. value
$6.0M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1994
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
14.14 ac
Current owner
From public records · entity-resolved
Spartan Group LLC
Entity
Mailing address
PO BOX 910, NEWTON, NC 28658-0910
Ownership since
2019
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 31, 2019
—
Spartan Group LLC
—
Deed
related
$905,596 · Wells Fargo Bank NA
Dec 19, 2019
—
Spartan Group LLC
—
Deed
related
$1,094,637 · Wells Fargo Bk
—
—
Spartan Group LLC
—
Deed Of Trust
related
$1,345,000 · Wells Fargo Bank
—
—
Spartan Group LLC
—
Loan Modification
related
$1,094,637 · Wells Fargo Bk
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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