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Property profile & analytics
OFF-MARKET
Estimated value
$2,975,000
Drug stores
1220 Us Hwy 321st NW Hickory, NC 28601-2206
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-1931020
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2000
Construction
FRAME
Total area
10,705 SF
Lot
1.13 ac (49,223 SF)
Zoning code
C-2
APN
2793-12-85-0290
UPID
US53-1931020
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
$2.82M
CAP Approach
CAP
$1.80M
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$2.98M
Owner & transaction history
Guy Properties LLC · 3 yrs held
Guy Properties LLC
since 2022
Last sale
$3.1M
4 recorded transactions
Zoning & alternative use
C-2 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.5M
+94.6%
Medical building
$2.0M
+61.2%
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
$2,920,000
ML approach
$2,820,000
CAP Approach
CAP Return
Estimation
6%
$1,945,000
6.5%
$1,795,000
7%
$1,670,000
Alternative Use
Use
Estimation
RESTAURANT
$2,455,000
Change: +95% · Conversion: Easy
MEDICAL BUILDING
$2,035,000
Change: +61% · Conversion: Difficult
Blend value · Realmo final
$2.98M
Range $2.68M – $3.27M · ±10% · vs last sale $3.08M (Oct 25 2022)
Last sale anchor
$3.08M
Oct 25 2022
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
$278 / 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
$25,293
Tax year 2023
Assessed value
$2,963,500
Assessed 2023
Previous assessed
$2,963,500
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$161,700
Assessed improvement
$2,801,800
Land market value
$161,700
Improvement market value
$2,801,800
Total market value
$2,963,500
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
10,705 SF
Lot
1.13 ac (49,223 SF)
Zoning code
C-2
APN
2793-12-85-0290
UPID
US53-1931020
Jurisdiction
CATAWBA
Zoning & alternative use
C-2 · Hickory, NC
Zoning C-2 · permitted uses
C-2 · 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
RESTAURANT
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.0M
RESTAURANT
MEDICAL BUILDING
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
2000
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Guy Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
4401 E INDEPENDENCE BLVD, CHARLOTTE, NC 28205-7485
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2022
$3,080,000
Guy Properties LLC
Norvell Management LLC
Special Warranty Deed
—
Dec 22, 2021
—
Norvell Management LLC
Colonial Hickory 321 II LLC
Special Warranty Deed
—
—
—
Colonial Hickory 321 LLC
—
Deed Of Trust
related
$1,900,000 · Wachovia Bank NA
—
—
Colonial Hickory/321 II LLC
—
Deed Of Trust
related
$5,500,000 · American Fidelity Assurance Co
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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