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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Office buildings
125 1st NE Ave Hickory, NC 28601
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1603834
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Total area
7,280 SF
Lot
0.32 ac (13,939 SF)
Zoning code
C-1
APN
3703-19-60-8047
UPID
US53-1603834
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
$850k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$771k
Blend (final)
Blend
$850k
Owner & transaction history
Hre Commercial Properties LLC · 1 yrs held
Hre Commercial Properties LLC
since 2024
Last sale
$850,000
1 recorded transaction
Zoning & alternative use
C-1 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C-1 is intended to preserve and enhance downtown Hickorys role as a commercial, financial, cultural and governmental center. In recognition of the downtown areas historic building pattern and the communitys planning goals, the C-1 district is intended to be a physically predictable, pedestrian oriented environment.
Zone name
Central Business District
General category
CIVIC_INSTITUTIONAL
Zone area
127.81 ac
Source
Realmo
Top alternative use upside
Medical building
$1.4M
+64.3%
Auto repair, garage
$865,000
+2.7%
Retail stores
$860,000
+1.9%
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
$850,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$840,000
Current use
MEDICAL BUILDING
$1,385,000
Change: +64% · Conversion: Easy
AUTO REPAIR, GARAGE
$865,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$860,000
Change: +2% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$775,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$720,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (Nov 15 2024)
Last sale anchor
$850k
Nov 15 2024
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
$117 / 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
$4,518
Tax year 2023
Assessed value
$529,300
Assessed 2023
Previous assessed
$529,300
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$55,800
Assessed improvement
$473,500
Land market value
$55,800
Improvement market value
$473,500
Total market value
$529,300
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
1973
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Units
1
Total area
7,280 SF
Lot
0.32 ac (13,939 SF)
Zoning code
C-1
APN
3703-19-60-8047
UPID
US53-1603834
Jurisdiction
CATAWBA
Zoning & alternative use
C-1 · Hickory, NCZoning C-1 · permitted uses
C-1 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C-1 is intended to preserve and enhance downtown Hickorys role as a commercial, financial, cultural and governmental center. In recognition of the downtown areas historic building pattern and the communitys planning goals, the C-1 district is intended to be a physically predictable, pedestrian oriented environment.
Zone name
Central Business District
General category
CIVIC_INSTITUTIONAL
Zone area
127.81 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$840,000
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$865,000
RETAIL STORES
Est. value
$860,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$775,000
COMMERCIAL (GENERAL)
Est. value
$720,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
1973
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Hre Commercial Properties LLC
Entity
Mailing address
127 1ST AVE NE, HICKORY, NC 28601-6206
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2024
$850,000
Hre Commercial Properties LLC
Barsuma Properties INC
Warranty Deed
$680,000 · Barsuma Properties INC
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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