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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Drug stores
1504 2nd NE St Hickory, NC 28601-2551
Entity Owned
21-yr Hold
Free & Clear
Property ID
US53-0852817
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,384 SF
Lot
1.6 ac (69,696 SF)
Zoning code
NC
APN
3703-11-67-9188
UPID
US53-0852817
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
-
Ashley East, PharmD Pharmacy
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CVS Pharmacy
-
CVS Pharmacy Pharmacy
-
Robin Meade, RPh Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$2.39M
Blend (final)
Blend
$2.00M
Owner & transaction history
Lowes Home Centers INC · 21 yrs held
Lowes Home Centers INC
since 2005
5 recorded transactions
Zoning & alternative use
NC · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+94.6%
Medical building
$2.4M
+61.2%
Auto repair, garage
$1.5M
+0.8%
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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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%
$2,255,000
6.5%
$2,080,000
7%
$1,930,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,460,000
Current use
RESTAURANT
$2,840,000
Change: +95% · Conversion: Easy
MEDICAL BUILDING
$2,350,000
Change: +61% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,470,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$1,430,000
Change: -2% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,315,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,220,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±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
$161 / 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
$39,261
Tax year 2023
Assessed value
$4,600,000
Assessed 2023
Previous assessed
$4,600,000
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$503,300
Assessed improvement
$4,096,700
Land market value
$503,300
Improvement market value
$4,096,700
Total market value
$4,600,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
12,384 SF
Lot
1.6 ac (69,696 SF)
Zoning code
NC
APN
3703-11-67-9188
UPID
US53-0852817
Jurisdiction
CATAWBA
Zoning & alternative use
NC · Hickory, NC
Zoning NC · permitted uses
NC · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
RESTAURANT
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
1.6 ac
Current owner
From public records · entity-resolved
Lowes Home Centers INC
Entity
Free & Clear · 21 yrs held
Mailing address
4258 6TH ST DR NW, HICKORY, NC 28601-8040
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2018
—
Galaxy Properties LLC
—
Deed
related
—
Jun 30, 2005
$2,250,000
Lowes Home Centers INC
Galaxy Properties LLC
Grant Deed
—
—
—
Galaxy Properties LLC
—
Loan Modification
related
—
—
—
Galaxy Properties LLC
—
Deed Of Trust
related
$250,000 · Bank Of The Ozarks
—
—
Galaxy Properties LLC
—
Loan Modification
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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