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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Auto shops
1502 Us 52nd N Albemarle, NC 28001-2604
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-3617271
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1972
Total area
6,852 SF
Lot
5.6 ac (243,936 SF)
Zoning code
GHBD
APN
654903348246
UPID
US53-3617271
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
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
P G Butler Properties LLC · 4 yrs held
P G Butler Properties LLC
since 2021
Last sale
$555,000
2 recorded transactions
Zoning & alternative use
GHBD · Albemarle, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
7 R-4 Traditional Neighborhood Design District 92.098 R-O Residential-Office Re-Use District 92.099 NBD Neighborhood Business District 92.100 CBD Central Business District 92.101 NS Neighborhood Shopping District 92.102 GHBD General Highway Business District 92.103 SCD Shopping Center District 92.104 MUSCD Mixed Use Shopping Center District 92.105 HMD Hospit…
Zone name
General Highway Business District
General category
COMMERCIAL
Zone area
968.77 ac
Top alternative use upside
Commercial (general)
$845,000
+49.6%
Restaurant
$775,000
+37.2%
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 Albemarle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albemarle 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
$595,000
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$565,000
Current use
COMMERCIAL (GENERAL)
$845,000
Change: +50% · Conversion: Moderate
RESTAURANT
$775,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $555k (Aug 23 2021)
Last sale anchor
$555k
Aug 23 2021
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
$87 / 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
$7,480
Tax year 2024
Assessed value
$613,108
Assessed 2024
Previous assessed
$613,108
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$319,550
Assessed improvement
$293,558
Land market value
$319,550
Improvement market value
$293,558
Total market value
$613,108
Applied tax rate
500.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1972
Heating
SPACE
Cooling
NONE
Buildings
2
Stories
1
Bathrooms
2
Total area
6,852 SF
Lot
5.6 ac (243,936 SF)
Zoning code
GHBD
APN
654903348246
UPID
US53-3617271
Jurisdiction
STANLY
Zoning & alternative use
GHBD · Albemarle, NCZoning GHBD · permitted uses
GHBD · Albemarle, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
7 R-4 Traditional Neighborhood Design District 92.098 R-O Residential-Office Re-Use District 92.099 NBD Neighborhood Business District 92.100 CBD Central Business District 92.101 NS Neighborhood Shopping District 92.102 GHBD General Highway Business District 92.103 SCD Shopping Center District 92.104 MUSCD Mixed Use Shopping Center District 92.105 HMD Hospital-Medical Center District 92.106 LID Light Industrial District 92.107 HID Heavy Ind
Zone name
General Highway Business District
General category
COMMERCIAL
Zone area
968.77 ac
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$565,000
COMMERCIAL (GENERAL)
Est. value
$845,000
RESTAURANT
Est. value
$775,000
AUTO REPAIR, GARAGE Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1972
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
5.6 ac
Current owner
From public records · entity-resolved
P G Butler Properties LLC
Entity
Mailing address
PO BOX 835, SALISBURY, NC 28145-0835
Ownership since
2021
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
Aug 23, 2021
$555,000
P G Butler Properties LLC
Hvm LLC
Warranty Deed
$444,000 · Farmers & Merchants Bank
Dec 23, 2010
$463,000
Hvm LLC
Bank Of Stanly
Quit Claim Deed
related
$462,648 · Bank Of Stanley
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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