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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
118 College Ave Newton, NC 28658-3261
Individually Owned
6-yr Hold
Free & Clear
Property ID
US53-2032768
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
WOOD
Total area
20,124 SF
Lot
0.23 ac (10,019 SF)
Zoning code
B-3
APN
3740-13-03-2929
UPID
US53-2032768
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
$430k
Blend (final)
Blend
$535k
Owner & transaction history
William E Smith · 6 yrs held
William E Smith
since 2020
5 recorded transactions
Zoning & alternative use
B-3 · Newton, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the B-3 district is to support the central business district as a hub for commercial, financial, professional, governmental, and cultural activities through appropriate development regulations.
Zone name
Central Business
General category
CIVIC_INSTITUTIONAL
Zone area
42.79 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 Newton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newton 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
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$27 / 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
$3,017
Tax year 2023
Assessed value
$234,400
Assessed 2023
Previous assessed
$355,600
-34.1% YoY
Effective rate
1.29%
On assessed value
Assessed land
$40,100
Assessed improvement
$194,300
Land market value
$40,100
Improvement market value
$194,300
Total market value
$234,400
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
1950
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
1
Total area
20,124 SF
Lot
0.23 ac (10,019 SF)
Zoning code
B-3
APN
3740-13-03-2929
UPID
US53-2032768
Jurisdiction
CATAWBA
Zoning & alternative use
B-3 · Newton, NCZoning B-3 · permitted uses
B-3 · Newton, 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 B-3 district is to support the central business district as a hub for commercial, financial, professional, governmental, and cultural activities through appropriate development regulations.
Zone name
Central Business
General category
CIVIC_INSTITUTIONAL
Zone area
42.79 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1950
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
William E Smith
Individual
Free & Clear · 6 yrs held
Mailing address
118 N COLLEGE AVE, NEWTON, NC 28658-3261
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2025
—
Newton Mark III LLC
—
Deed
related
$525,000 · Peoples Bank
Apr 11, 2024
—
Newton Mall LLC
—
Deed
related
$325,000 · Peoples Bank
Feb 23, 2023
—
Newton Mark III LLC
—
Deed
related
$125,000 · Peoples Bank
Jun 8, 2022
—
Newton Mark III LLC
—
Deed
related
$746,025 · Peoples Bank
Jun 25, 2020
—
William E Smith
William E Smith
Quit Claim Deed
related
—
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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