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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Medical Office Space
1420 Franklin St Monroe, NC 28112-5160
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1351342
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Total area
12,374 SF
Lot
1.37 ac (59,808 SF)
Zoning code
OT MONROE
APN
09-157-006
UPID
US53-1351342
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
-
Novant Health Monroe Family Medical Medical Clinic
-
Dr. David C. Allison, MD Pediatrician Physician
-
Dr. John M. Linster, MD Pediatrician Physician
-
Dr. Charles H. Hoover, MD Physician
-
Kyle Mathis, PA-C Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$800k
Owner & transaction history
Novant Medical Group INC · 4 yrs held
Novant Medical Group INC
since 2022
2 recorded transactions
Zoning & alternative use
OT MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
monroe udo
Top alternative use upside
Retail stores
$1.3M
+6.3%
Office building
$1.3M
+4.0%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,250,000
Current use
RETAIL STORES
$1,330,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$1,300,000
Change: +4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,225,000
Change: -2% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,195,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,100,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$65 / 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
$15,489
Tax year 2023
Assessed value
$1,420,400
Assessed 2023
Previous assessed
$1,420,400
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$341,100
Assessed improvement
$1,079,300
Land market value
$341,100
Improvement market value
$1,079,300
Total market value
$1,420,400
Applied tax rate
200.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
12,374 SF
Lot
1.37 ac (59,808 SF)
Zoning code
OT MONROE
APN
09-157-006
UPID
US53-1351342
Jurisdiction
UNION
Zoning & alternative use
OT MONROE · Monroe, NCZoning OT MONROE · permitted uses
OT MONROE · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
monroe udo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING Current
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1985
Heating
YES
Cooling
Yes
Stories
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
Novant Medical Group INC
Entity
Free & Clear · 4 yrs held
Mailing address
1420 E FRANKLIN ST, MONROE, NC 28112-5160
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2022
—
Novant Medical Group INC
Famedco LLC
Lease
—
Jan 1, 2001
—
Famedco LLC
—
Deed Of Trust
related
—
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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