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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Hotels
1184 Lenoir Rhyne SE Blvd, Hickory, NC 28602-5169
Individually Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1627095
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1986
Construction
WOOD
Total area
32,640 SF
Lot
3.83 ac (166,835 SF)
Zoning code
C-3
APN
3712-14-23-7259
UPID
US53-1627095
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
-
Red Roof Inn Hickory Hotel & Motel
-
Red Roof Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$935k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.00M
Blend (final)
Blend
$965k
Owner & transaction history
Shreeji Hospitality Airport Ll · 9 yrs held
Shreeji Hospitality Airport Ll
since 2017
6 recorded transactions
Zoning & alternative use
C-3 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.6M
+64.9%
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
by Request
ML approach
$935,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$940,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,550,000
Change: +65% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$30 / 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
$32,804
Tax year 2023
Assessed value
$3,843,500
Assessed 2023
Previous assessed
$3,843,500
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$938,400
Assessed improvement
$2,905,100
Land market value
$938,400
Improvement market value
$2,905,100
Total market value
$3,843,500
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
HOT WATER
Cooling
WINDOW A/C
Stories
2
Units
108
Total area
32,640 SF
Lot
3.83 ac (166,835 SF)
Zoning code
C-3
APN
3712-14-23-7259
UPID
US53-1627095
Jurisdiction
CATAWBA
Zoning & alternative use
C-3 · Hickory, NC
Zoning C-3 · permitted uses
C-3 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$940,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
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
1986
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
108
Lot
3.83 ac
Current owner
From public records · entity-resolved
Shreeji Hospitality Airport Ll
Individual
Free & Clear · 9 yrs held
Mailing address
1719 FUNNY CIDE DR, WAXHAW, NC 28173-8294
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Jul 25, 2017
—
Shreeji Hospitality Hickory Ll
—
Deed
related
$2,723,500 · Paragon Com'l Bk
Mar 9, 2017
—
Shreeji Hospitality Airport Ll
Shreeji Hospitality Airport Ll
Quit Claim Deed
related
—
May 8, 2015
$24,000
Shreeji Hospitality Airport LLC
Rri III LLC
Special Warranty Deed
$1,950,000 · Yadkin Bank
Mar 15, 2011
$2,167,000
Rri III LLC
R Roof IV LLC
Deed
$100,000,000 · Deutsche Bank Trust Co Americas
Sep 6, 2007
$5,444,500
R Roof IV LLC
Red Elm LLC
Grant Deed
—
—
—
Shreeji Hospitality Hickory Ll
—
Deed Of Trust
related
$2,723,500 · Paragon Com'l 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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