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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Grocery and convenience stores
1611 Stokes Fry Rd Salisbury, NC 28146-6026
Entity Owned
~
Est. High Equity
Property ID
US53-4834842
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1952
Total area
6,100 SF
Lot
0.79 ac (34,412 SF)
APN
058 541
UPID
US53-4834842
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
by Request
CAP Approach
CAP
$540k
Comparable Approach
Comparable
$389k
Blend (final)
Blend
$580k
Owner & transaction history
Aarav Investments LLC
Aarav Investments LLC
since 2026
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$885,000
+494.2%
Office building
$750,000
+401.9%
Medical building
$585,000
+291.4%
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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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%
$585,000
6.5%
$540,000
7%
$505,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$885,000
Change: +494% · Conversion: Easy
OFFICE BUILDING
$750,000
Change: +402% · Conversion: Moderate
MEDICAL BUILDING
$585,000
Change: +291% · Conversion: Difficult
AUTO REPAIR, GARAGE
$580,000
Change: +287% · Conversion: Difficult
RETAIL STORES
$570,000
Change: +283% · Conversion: Easy
RESTAURANT
$555,000
Change: +273% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$95 / 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
$8,190
Tax year 2024
Assessed value
$684,784
Assessed 2024
Previous assessed
$684,784
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$264,972
Assessed improvement
$419,812
Land market value
$264,972
Improvement market value
$419,812
Total market value
$684,784
Applied tax rate
101.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1952
Buildings
3
Units
1
Total area
6,100 SF
Lot
0.79 ac (34,412 SF)
APN
058 541
UPID
US53-4834842
Jurisdiction
ROWAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$885,000
OFFICE BUILDING
Est. value
$750,000
MEDICAL BUILDING
Est. value
$585,000
AUTO REPAIR, GARAGE
Est. value
$580,000
RETAIL STORES
Est. value
$570,000
RESTAURANT
Est. value
$555,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1952
Buildings
3
Units
1
Lot
0.79 ac
Current owner
From public records · entity-resolved
Aarav Investments LLC
Entity
Mailing address
PO BOX 217, SALISBURY, NC 28145-0217
Ownership since
2026
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
Apr 20, 2026
$4,259,000
Aarav Investments LLC
Honeycutt Real Estate LLC
Special Warranty Deed
$3,700,000
Apr 20, 2026
—
Aarav Investments LLC
Honeycutt Real Estate LLC
Deed
—
Feb 9, 2021
—
Honeycutt Real Estate LLC
—
Deed
related
$350,520 · Peoples Bank
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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