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Property profile & analytics
OFF-MARKET
Estimated value
$1,775,000
Industrial properties
131 Innes St, Salisbury, NC 28144-4338
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-1834848
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1900
Total area
26,274 SF
Lot
0.13 ac (5,445 SF)
Zoning code
B5
APN
102537
UPID
US53-1834848
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
-
SP Digital Advertising Agency Marketing & Advertising
-
Rowan County United Way Charitable Organization Social Service Agency
-
Thrivent Financial-Lutherans Financial Advisor
-
Salisbury Post Publishing House Newspaper & Magazine
-
Salisbury the magazine Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
$2.46M
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.78M
Owner & transaction history
Kare Partners LLC · 3 yrs held
Kare Partners LLC
since 2022
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
B5 · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+85.9%
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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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
$1,180,000
ML approach
$1,195,000
CAP Approach
CAP Return
Estimation
6%
$2,670,000
6.5%
$2,460,000
7%
$2,285,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,820,000
Change: +86% · Conversion: Moderate
Blend value · Realmo final
$1.78M
Range $1.60M – $1.95M · ±10% · vs last sale $1.85M (Oct 11 2022)
Last sale anchor
$1.85M
Oct 11 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
$68 / 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
$10,955
Tax year 2023
Assessed value
$1,488,480
Assessed 2023
Previous assessed
$1,313,248
+13.3% YoY
Effective rate
0.74%
On assessed value
Assessed land
$103,303
Assessed improvement
$1,385,177
Land market value
$103,303
Improvement market value
$1,385,177
Total market value
$1,488,480
Applied tax rate
131.0000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1900
Heating
YES
Cooling
YES
Stories
3
Total area
26,274 SF
Lot
0.13 ac (5,445 SF)
Zoning code
B5
APN
102537
UPID
US53-1834848
Jurisdiction
ROWAN
Zoning & alternative use
B5 · Salisbury, NC
Zoning B5 · permitted uses
B5 · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.8M
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
1900
Heating
YES
Cooling
Yes
Stories
3
Lot
0.13 ac
Current owner
From public records · entity-resolved
Kare Partners LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2675 CT DR, GASTONIA, NC 28054-1478
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2022
$1,850,000
Kare Partners LLC
Salisbury Newsmedia LLC
Special Warranty Deed
—
Sep 3, 2019
—
Salisbury Newsmedia LLC
—
Loan Modification
related
$1,923,968 · Red River Bk
Apr 25, 2019
—
Salisbury Newsmedia LLC
—
Loan Modification
related
$2,376,680 · Red River Bk
Feb 18, 2014
$2,240,000
Salisbury Newsmedia LLC
Evening Post Industries INC
Special Warranty Deed
—
Feb 13, 2014
$2,240,000
Salisbury Newsmedia LLC
Evening Post Industries INC
Grant Deed
—
—
—
Salisbury Newsmedia LLC
—
Loan Modification
related
$1,304,995 · Red River 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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