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Property profile & analytics
OFF-MARKET
Parking lots & garages
118 2nd St Lexington, NC 27292
Entity Owned
Free & Clear
Property ID
US53-1019432
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1998
Total area
85,425 SF
Lot
1.16 ac (50,530 SF)
Zoning code
U
APN
11-056-0-00A-0017
UPID
US53-1019432
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
DAVIDSON COUNTY
DAVIDSON COUNTY
Zoning & alternative use
U · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental activity. Storefront shops with upper story residences, restaurants, civic uses, and public uses, primarily along North and South Main Streets…
Zone name
Uptown Zoning District
General category
CIVIC_INSTITUTIONAL
Zone area
88.28 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 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
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 2023Property tax & assessments
Tax year 2023
Assessed value
$5,120,530
Assessed 2023
Previous assessed
$5,120,530
+0.0% YoY
Land market value
$459,820
Improvement market value
$4,660,710
Total market value
$5,120,530
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1998
Heating
NONE
Cooling
NONE
Stories
3
Total area
85,425 SF
Lot
1.16 ac (50,530 SF)
Zoning code
U
APN
11-056-0-00A-0017
UPID
US53-1019432
Jurisdiction
DAVIDSON
Zoning & alternative use
U · Lexington, NCZoning U · permitted uses
U · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental activity. Storefront shops with upper story residences, restaurants, civic uses, and public uses, primarily along North and South Main Streets and East and West Center Streets, help define the general character of the area, with new infill development carefully designed to enhance the character, charm, and economic strength of this vital historic community wide activity center.
Zone name
Uptown Zoning District
General category
CIVIC_INSTITUTIONAL
Zone area
88.28 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1998
Heating
NONE
Cooling
Yes
Stories
3
Lot
1.16 ac
Current owner
From public records · entity-resolved
DAVIDSON COUNTY
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 1067, LEXINGTON, NC 27293-1067
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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