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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Residential income homes
121 Council St, Salisbury, NC 28144-4377
Entity Owned
4-yr Hold
Property ID
US53-1528515
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1920
Total area
13,416 SF
Lot
0.13 ac (5,445 SF)
Zoning code
B5
APN
102455
UPID
US53-1528515
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
-
Gaines Nancy R Law Firm
-
The Salisbury Apartment Building Historical Landmark
-
NSC Behavioral Concepts, Inc. Crisis Center Medical Clinic
-
Carnival Publications Advertising Agency Marketing & Advertising
-
Rufus T. Wyatt Jr, LPC Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$780k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$800k
Owner & transaction history
The Salisbury Building LLC · 4 yrs held
The Salisbury Building LLC
since 2021
Last sale
$800,000
2 recorded transactions
Zoning & alternative use
B5 · Salisbury, 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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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
$825,000
ML approach
$780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,260,000
Change: 0% · Conversion: Moderate
RESTAURANT
$1,250,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,025,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$910,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$530,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $800k (Oct 28 2021)
Last sale anchor
$800k
Oct 28 2021
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
$60 / 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
$9,676
Tax year 2023
Assessed value
$1,314,662
Assessed 2023
Previous assessed
$1,314,662
+0.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$78,624
Assessed improvement
$1,236,038
Land market value
$78,624
Improvement market value
$1,236,038
Total market value
$1,314,662
Applied tax rate
131.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1920
Heating
YES
Cooling
YES
Stories
3
Units
1
Total area
13,416 SF
Lot
0.13 ac (5,445 SF)
Zoning code
B5
APN
102455
UPID
US53-1528515
Jurisdiction
ROWAN
Zoning & alternative use
B5 · Salisbury, NC
Zoning B5 · permitted uses
B5 · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.3M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$910,000
INDUSTRIAL (GENERAL)
Est. value
$530,000
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
YES
Cooling
Yes
Stories
3
Units
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
The Salisbury Building LLC
Entity
Mailing address
2200 KENMORE AVE, CHARLOTTE, NC 28204-3326
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2021
$800,000
The Salisbury Building LLC
Gerald C Burnett SR.
Special Warranty Deed
—
Oct 28, 2021
—
The Salisbury Building LLC
Gerald C Burnett SR.
Quit Claim Deed
related
$2,300,000 · F & M Bank
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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