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Property profile & analytics
OFF-MARKET
Estimated value
$2,110,000
Investment properties
1602 Roosevelt Blvd Monroe, NC 28112-4017
Entity Owned
12-yr Hold
Free & Clear
Property ID
US53-1944047
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2006
Total area
15,990 SF
Lot
2.13 ac (92,783 SF)
Zoning code
CD MONROE
APN
09-156-005A
UPID
US53-1944047
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
-
Spiro's Touch of Class Catering Take-out & Catering Catering Service
-
Hilltop Fish Fare & Steakhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$2.11M
Owner & transaction history
1602 Roosevelt LLC · 12 yrs held
1602 Roosevelt LLC
since 2013
3 recorded transactions
Zoning & alternative use
CD MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.4M
+160.6%
Auto repair, garage
$2.5M
+96.1%
Neighborhood: shopping center
$2.4M
+87.7%
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,290,000
Current use
INDUSTRIAL (GENERAL)
$3,365,000
Change: +161% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,535,000
Change: +96% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,425,000
Change: +88% · Conversion: Difficult
OFFICE BUILDING
$1,710,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$2.11M
Range $1.90M – $2.32M · ±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
$132 / 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
$44,537
Tax year 2023
Assessed value
$4,084,100
Assessed 2023
Previous assessed
$4,084,100
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$754,800
Assessed improvement
$3,329,300
Land market value
$754,800
Improvement market value
$3,329,300
Total market value
$4,084,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2006
Heating
YES
Buildings
2
Stories
2
Total area
15,990 SF
Lot
2.13 ac (92,783 SF)
Zoning code
CD MONROE
APN
09-156-005A
UPID
US53-1944047
Jurisdiction
UNION
Zoning & alternative use
CD MONROE · Monroe, NC
Zoning CD MONROE · permitted uses
CD 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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2006
Heating
YES
Stories
2
Buildings
2
Lot
2.13 ac
Current owner
From public records · entity-resolved
1602 Roosevelt LLC
Entity
Free & Clear · 12 yrs held
Mailing address
314 ABELLIA DR, WAXHAW, NC 28173-9310
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Sep 27, 2013
—
1602 Roosevelt LLC
Kaltsounis,spiro E & Fontina
Warranty Deed
—
Jul 14, 2005
—
Spiro E Kaltsounis
—
Trustees Deed
related
$2,450,000 · First Charter Bank
—
—
Sprio E Kaltsounis
—
Deed Of Trust
related
$2,200,000 · Charles A & Patricia S Deal
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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