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Property profile & analytics
OFF-MARKET
Estimated value
$3,125,000
Office buildings
1228 Commerce SW St Conover, NC 28613-8355
Trust Owned
6-yr Hold
Free & Clear
Property ID
US53-1065836
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Total area
38,717 SF
Lot
4.17 ac (181,645 SF)
Zoning code
B-4
APN
3721-12-97-5045
UPID
US53-1065836
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
-
FedEx Ship Center Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.17M
Blend (final)
Blend
$3.13M
Owner & transaction history
Exchangeright,net Leased Portf Trust · 6 yrs held
Exchangeright,net Leased Portf Trust
since 2020
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
B-4 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.5M
+28.5%
Auto repair, garage
$3.9M
+11.8%
Retail stores
$3.7M
+6.0%
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
$2,985,000
ML approach
$2,960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,530,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,530,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,945,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$3,740,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$3.13M
Range $2.81M – $3.44M · ±10% · vs last sale $3.28M (Apr 13 2020)
Last sale anchor
$3.28M
Apr 13 2020
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
$81 / 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
$22,285
Tax year 2023
Assessed value
$2,808,500
Assessed 2023
Previous assessed
$2,808,500
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$434,100
Assessed improvement
$2,374,400
Land market value
$434,100
Improvement market value
$2,374,400
Total market value
$2,808,500
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1995
Heating
HOT WATER
Cooling
CENTRAL
Units
1
Total area
38,717 SF
Lot
4.17 ac (181,645 SF)
Zoning code
B-4
APN
3721-12-97-5045
UPID
US53-1065836
Jurisdiction
CATAWBA
Zoning & alternative use
B-4 · Conover, NC
Zoning B-4 · permitted uses
B-4 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$3.9M
RETAIL STORES
Est. value
$3.7M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1995
Heating
HOT WATER
Cooling
Yes
Units
1
Lot
4.17 ac
Current owner
From public records · entity-resolved
Exchangeright,net Leased Portf Trust
Trust
Free & Clear · 6 yrs held
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2020
$3,281,500
Exchangeright,net Leased Portf Trust
Conover Partners LLC
Grant Deed
—
Jan 2, 2020
—
Conover Partners LLC
—
Deed
related
$200,000 · Servisfirst Bk
Mar 12, 2019
—
Conover Partners LLC
Equity Resource Partners LLC
Warranty Deed
$1,520,000 · Servisfirst Bank
Mar 1, 2019
$1,900,000
Equity Resource Partners LLC
Lynch,cheryl W
Warranty Deed
related
—
Mar 1, 2019
—
Conover Partners LLC
—
Deed
related
$1,520,000 · Servisfirst Bk
Dec 3, 2018
—
Cheryl W Lynch
White,william H
Quit Claim Deed
related
—
Aug 15, 2008
—
Branch Banking & Tr Trust
White William H
Grant Deed
related
—
—
—
Conover Partners LLC
—
Deed Of Trust
related
$1,520,000 · Servisfirst Bk
—
—
Branch Bkng & Tr Trust
—
Deed Of Trust
related
$915,000 · Branch Bk&tr
—
—
William H White
—
Deed Of Trust
related
$1,275,000 · Liberty Life Insurance Co
—
—
Conover Partners LLC
—
Deed Of Trust
related
$200,000 · Servisfirst 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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