New search
Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Medical Office Space
1428 Ellen St Ste A, Monroe, NC 28112-5286
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1641988
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
4,750 SF
Lot
0.3 ac (13,242 SF)
Zoning code
OT MONROE
APN
09-157-014 03
UPID
US53-1641988
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
-
Dr. Theodore S. Stamatakos, MD Physician Medical Clinic
-
Kimberly W. Robinson, LCSW Physician
-
Thrive Counseling Services PLLC Counselor
-
Ana Randall Counselor Psychologist
-
Jessica Kempton Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$463k
Blend (final)
Blend
$755k
Owner & transaction history
John T Giovanetti · 3 yrs held
John T Giovanetti
since 2023
Last sale
$715,000
3 recorded transactions
Zoning & alternative use
OT MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$510,000
+6.3%
Office building
$500,000
+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
$795,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
$1,105,000
6.5%
$1,020,000
7%
$945,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$480,000
Current use
RETAIL STORES
$510,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$500,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$460,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $715k (Mar 21 2023)
Last sale anchor
$715k
Mar 21 2023
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
$159 / 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
$6,548
Tax year 2023
Assessed value
$600,500
Assessed 2023
Previous assessed
$600,500
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$50,100
Assessed improvement
$550,400
Land market value
$50,100
Improvement market value
$550,400
Total market value
$600,500
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
1998
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
4,750 SF
Lot
0.3 ac (13,242 SF)
Zoning code
OT MONROE
APN
09-157-014 03
UPID
US53-1641988
Jurisdiction
UNION
Zoning & alternative use
OT MONROE · Monroe, NC
Zoning 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
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$480,000
RETAIL STORES
Est. value
$510,000
OFFICE BUILDING
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$460,000
MEDICAL BUILDING Current
RETAIL STORES
OFFICE 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
1998
Heating
YES
Cooling
Yes
Stories
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
John T Giovanetti
Individual
Mailing address
2228 KNOLLGATE DR, MONROE, NC 28112-6504
Ownership since
2023
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
Mar 21, 2023
$715,000
John T Giovanetti
Slim LLC
Special Warranty Deed
$100,000 · Nicole Giovanetti
Nov 22, 2013
—
Slim LLC
Leitner,thomas C & Tracey A
Quit Claim Deed
related
—
Dec 30, 2011
$560,000
Slim LLC
Leitner,thomas C & Tracey A
Warranty Deed
$476,000 · First Citizens Bank & Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1428 Ellen St Ste A?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
