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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Retail space
121 Cherry Mtn St Forest City, NC 28043-3002
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-2530654
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1920
Total area
4,740 SF
Lot
1.3 ac (56,628 SF)
Zoning code
C2
APN
1643377
UPID
US53-2530654
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
$820k
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$570k
Blend (final)
Blend
$755k
Owner & transaction history
Mg Holdings Group LLC · 3 yrs held
Mg Holdings Group LLC
since 2023
Last sale
$723,000
3 recorded transactions
Zoning & alternative use
C2 · Forest City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Forest City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest City 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
$795,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$670,000
Alternative Use
Use
Estimation
RETAIL STORES
$465,000
Current use
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $723k (Feb 14 2023)
Last sale anchor
$723k
Feb 14 2023
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
$159 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$1,948
Tax year 2021
Assessed value
$318,900
Assessed 2023
Previous assessed
$318,900
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$249,400
Assessed improvement
$69,500
Land market value
$249,400
Improvement market value
$69,500
Total market value
$318,900
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1920
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Total area
4,740 SF
Lot
1.3 ac (56,628 SF)
Zoning code
C2
APN
1643377
UPID
US53-2530654
Jurisdiction
RUTHERFORD
Zoning & alternative use
C2 · Forest City, NC
Zoning C2 · permitted uses
C2 · Forest City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$465,000
RETAIL STORES Current
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
1920
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Lot
1.3 ac
Current owner
From public records · entity-resolved
Mg Holdings Group LLC
Entity
Mailing address
639 BOSTIC SUNSHINE HWY, BOSTIC, NC 28018-9779
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2023
$723,000
Mg Holdings Group LLC
Fulenwider Investment Holdings LLC
Special Warranty Deed
$542,121 · United Bank
Apr 8, 2021
—
Fulenwider Investment Holdings LLC
Hunting Creek Associates LLC
Special Warranty Deed
—
Feb 15, 2007
$725,000
Hunting Creek Associates LLC
Farmers Hardware Co Of Forest C
Warranty Deed
—
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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