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Property profile & analytics
OFF-MARKET
Estimated value
$3,825,000
Office buildings
1246 26th SE St Hickory, NC 28602-7317
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-2065964
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
19,822 SF
Lot
1.47 ac (64,033 SF)
Zoning code
IND
APN
3722-17-11-4214
UPID
US53-2065964
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
$3.44M
CAP Approach
CAP
$4.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.83M
Owner & transaction history
Van Norstrand Properties LLC · 5 yrs held
Van Norstrand Properties LLC
since 2021
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
IND · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities controlled by performance standards to limit the effect of such uses on uses within the district and on adjacent districts.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
4,774.62 ac
Source
Realmo
Top alternative use upside
Restaurant
$4.5M
+163.8%
Medical building
$3.8M
+118.5%
Auto repair, garage
$2.4M
+36.6%
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
$3,390,000
ML approach
$3,440,000
CAP Approach
CAP Return
Estimation
6%
$4,655,000
6.5%
$4,295,000
7%
$3,990,000
Alternative Use
Use
Estimation
RESTAURANT
$4,545,000
Change: +164% · Conversion: Moderate
MEDICAL BUILDING
$3,765,000
Change: +119% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,355,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$3.83M
Range $3.44M – $4.21M · ±10% · vs last sale $4.00M (May 11 2021)
Last sale anchor
$4.00M
May 11 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
$193 / 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
$7,387
Tax year 2023
Assessed value
$865,500
Assessed 2023
Previous assessed
$865,500
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$89,600
Assessed improvement
$775,900
Land market value
$89,600
Improvement market value
$775,900
Total market value
$865,500
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
1999
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
19,822 SF
Lot
1.47 ac (64,033 SF)
Zoning code
IND
APN
3722-17-11-4214
UPID
US53-2065964
Jurisdiction
CATAWBA
Zoning & alternative use
IND · Hickory, NCZoning IND · permitted uses
IND · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities controlled by performance standards to limit the effect of such uses on uses within the district and on adjacent districts.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
4,774.62 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1999
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
Van Norstrand Properties LLC
Entity
Mailing address
806 JOLLYMON WAY, DAYTONA BEACH, FL 32124-3722
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2021
$4,000,000
Van Norstrand Properties LLC
Hickory Carolina Investments LLC
Special Warranty Deed
—
Mar 25, 2020
—
Hickory Carolina Invs LLC
—
Deed
related
$2,111,709 · Wells Fargo Bk
Aug 30, 2016
—
Hickory Carolina Investments LLC
—
Deed
related
$2,475,000 · Wells Fargo Bank NA
Oct 28, 2008
$3,910,000
Hickory Carolina Invs LLC
Taymark LLC
Warranty Deed
related
—
Feb 28, 2008
$55,000
Hardwoods Catawba
Taymark LLC
Grant Deed
—
—
—
Hardwoods Catawba
—
Deed Of Trust
related
$380,000 · Carolina First Bank
—
—
Hickory Carolina Invs LLC
—
Loan Modification
related
$2,111,709 · Wells Fargo 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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