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Property profile & analytics
FOR LEASE
Strip malls
1609 S Church St Burlington, NC 27215
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1723316
For Lease
1 / 10
$48,000 SF/Yr
1609 S Church St, Burlington, NC 27215
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1964
Total area
27,784 SF
Lot
1.42 ac (61,855 SF)
Zoning code
B 2
APN
121679
UPID
US53-1723316
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
-
Elon Tobacco & Vape (Bike/Boat/Book/etc) Store
-
Hibachi House Restaurant
-
Relax Foot Spa Alternative Medicine Practice Spa & Massage Center
-
Bin Catch Department Store
-
Quansheng Video Game City Arcade & Gaming Center Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$883k
Blend (final)
Blend
$710k
Owner & transaction history
Farrell Properties LLC · 19 yrs held
Farrell Properties LLC
since 2006
7 recorded transactions
Zoning & alternative use
B 2 · Burlington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$965,000
Current use
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$26 / 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
$7,005
Tax year 2023
Assessed value
$1,621,577
Assessed 2023
Previous assessed
$1,621,577
+0.0% YoY
Effective rate
0.43%
On assessed value
Assessed land
$201,247
Assessed improvement
$1,420,330
Land market value
$201,247
Improvement market value
$1,420,330
Total market value
$1,621,577
Applied tax rate
12.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1964
Heating
HEAT PUMP
Cooling
NONE
Stories
1
Rooms
4
Bathrooms
2
Total area
27,784 SF
Lot
1.42 ac (61,855 SF)
Zoning code
B 2
APN
121679
UPID
US53-1723316
Jurisdiction
ALAMANCE
Zoning & alternative use
B 2 · Burlington, NC
Zoning B 2 · permitted uses
B 2 · Burlington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burlington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$965,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1964
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
2
Lot
1.42 ac
Current owner
From public records · entity-resolved
Farrell Properties LLC
Entity
Mailing address
1918 WILKINS ST, BURLINGTON, NC 27217-1858
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2018
—
Jian M Chen
—
Deed
$290,000 · Farrell Properties LLC
Jun 1, 2016
—
J Silva INC
—
Deed
related
$100,000 · Select Bank & Trust Company
Dec 8, 2006
$200,000
Farrell Properties LLC
United Electric Consulting LLC
Grant Deed
—
Oct 14, 2005
—
Farrell Properties Etal
Owner Name Unavailable
Grant Deed
related
—
Dec 30, 2004
$200,000
James L Massey
Owner Name Unavailable
Grant Deed
related
—
Jan 30, 2004
—
Farrell Properties LLC
Farrell,thomas E
Quit Claim Deed
related
—
—
—
Jian M Chen
—
Deed Of Trust
$290,000 · Farrell Properties LLC
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?”
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