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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Office buildings
1515 Newton Dr, Statesville, NC 28677
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-1803103
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,906 SF
Lot
0.42 ac (18,295 SF)
Zoning code
LI
APN
4734-25-4705.000
UPID
US53-1803103
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
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$720k
Owner & transaction history
Aaa Fences Decks And Home Remodelin · 1 yrs held
Aaa Fences Decks And Home Remodelin
since 2025
Last sale
$800,000
2 recorded transactions
Zoning & alternative use
LI · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$760,000
+95.3%
Retail stores
$590,000
+50.7%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$625,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$760,000
Change: +95% · Conversion: Easy
RETAIL STORES
$590,000
Change: +51% · Conversion: Moderate
Blend value · Realmo final
$720k
Range $648k – $792k · ±10% · vs last sale $800k (Jun 4 2025)
Last sale anchor
$800k
Jun 4 2025
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
$184 / 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
$1,622
Tax year 2023
Assessed value
$159,360
Assessed 2023
Previous assessed
$118,260
+34.8% YoY
Effective rate
1.02%
On assessed value
Assessed land
$37,800
Assessed improvement
$121,560
Land market value
$37,800
Improvement market value
$121,560
Total market value
$159,360
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Rooms
9
Bathrooms
3
Total area
3,906 SF
Lot
0.42 ac (18,295 SF)
Zoning code
LI
APN
4734-25-4705.000
UPID
US53-1803103
Jurisdiction
IREDELL
Zoning & alternative use
LI · Statesville, NC
Zoning LI · permitted uses
LI · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$760,000
RETAIL STORES
Est. value
$590,000
MEDICAL BUILDING
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
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Rooms
9
Bathrooms
3
Lot
0.42 ac
Current owner
From public records · entity-resolved
Aaa Fences Decks And Home Remodelin
Individual
Mailing address
PO BOX 5399, STATESVILLE, NC 28687-5399
Ownership since
2025
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
Jun 4, 2025
$800,000
Aaa Fences Decks And Home Remodelin
Thorneburg Hosiery Mills INC
Special Warranty Deed
$400,000 · Thorneburg Hosiery Mills INC A North Car
Nov 25, 2024
—
Thorneburg Hosiery Mills INC
—
Deed
related
$4,500,000 · Rosenthal & Rosenthal Southeast INC A No
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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