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Property profile & analytics
OFF-MARKET
Estimated value
$245,000
Retail space
128 Main St Elkin, NC 28621-3488
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-4137814
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,368 SF
Lot
0.1 ac (4,182 SF)
Zoning code
DMX
APN
4951-14-32-8718
UPID
US53-4137814
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
-
The Crazy Pig Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$824k
Blend (final)
Blend
$245k
Owner & transaction history
The Bonanza Group LLC · 9 yrs held
The Bonanza Group LLC
since 2016
3 recorded transactions
Zoning & alternative use
DMX · Elkin, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Downtown Mixed-Use district is established to provide for a mixture of commercial, residential, and civic/institutional uses in the Towns downtown and waterfront core. The development emphasizes walkable, pedestrian-scaled, buildings with residential uses primarily being supplied above and behind commercial storefronts or offices while preserving the his…
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
121.58 ac
Source
Realmo
Top alternative use upside
Restaurant
$1.1M
+87.8%
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 Elkin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkin 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$590,000
Current use
RESTAURANT
$1,110,000
Change: +88% · Conversion: Easy
COMMERCIAL (GENERAL)
$525,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$245k
Range $221k – $270k · ±10%
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
$38 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$3,748
Tax year 2024
Assessed value
$552,870
Assessed 2024
Previous assessed
$552,870
+0.0% YoY
Effective rate
0.68%
On assessed value
Assessed land
$13,180
Assessed improvement
$539,690
Land market value
$13,180
Improvement market value
$539,690
Total market value
$552,870
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Total area
6,368 SF
Lot
0.1 ac (4,182 SF)
Zoning code
DMX
APN
4951-14-32-8718
UPID
US53-4137814
Jurisdiction
SURRY
Zoning & alternative use
DMX · Elkin, NCZoning DMX · permitted uses
DMX · Elkin, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Downtown Mixed-Use district is established to provide for a mixture of commercial, residential, and civic/institutional uses in the Towns downtown and waterfront core. The development emphasizes walkable, pedestrian-scaled, buildings with residential uses primarily being supplied above and behind commercial storefronts or offices while preserving the historic character. Two-family dwelling units and/or townhouse uses are permitted up to six units per acre
Zone name
Downtown Mixed Use
General category
MIXED_USE
Zone area
121.58 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$590,000
RESTAURANT
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$525,000
RETAIL STORES Current
RESTAURANT
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
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
The Bonanza Group LLC
Entity
Mailing address
PO BOX 687, ELKIN, NC 28621-0687
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2022
—
Bonaza Group LLC
—
Deed
related
$1,060,000 · First National Bank Of Pennsylvania
Dec 22, 2016
$188,000
The Bonanza Group LLC
John H Vanhoy
Warranty Deed
$157,500 · Wells Fargo Bank NA
Apr 18, 2005
$168,000
John H Vanhoy III
James H Poteat
Warranty Deed
—
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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