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Property profile & analytics
OFF-MARKET
Office buildings
1620 Martin Luther King Jr Ave, Salisbury, NC 28144-5594
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-3377271
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
1,204 SF
Lot
0.02 ac (871 SF)
Zoning code
M2
APN
017A010
UPID
US53-3377271
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
-
A Safe Place Counseling/ Kim Lance, LMFT Marriage Or Relationship Counselor
-
North Carolina Self-Insurance Security Association Charitable Organization Social Service Agency
-
Home Realty and Mortgage Real Estate Agency
-
United Express Tax & Multi-Services Accounting Firm Tax Preparation
-
Razor'z Edge Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Alco Property Group LLC · 3 yrs held
Alco Property Group LLC
since 2023
Last sale
$130,000
1 recorded transaction
Zoning & alternative use
M2 · Salisbury, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,552
Tax year 2023
Assessed value
$129,774
Assessed 2023
Previous assessed
$104,190
+24.6% YoY
Effective rate
1.20%
On assessed value
Assessed improvement
$129,774
Improvement market value
$129,774
Total market value
$129,774
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
YES
Stories
1
Units
1
Total area
1,204 SF
Lot
0.02 ac (871 SF)
Zoning code
M2
APN
017A010
UPID
US53-3377271
Jurisdiction
ROWAN
Zoning & alternative use
M2 · Salisbury, NC
Zoning M2 · permitted uses
M2 · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2005
Heating
YES
Stories
1
Units
1
Lot
0.02 ac
Current owner
From public records · entity-resolved
Alco Property Group LLC
Entity
Mailing address
1620 S MARTIN LUTHER KING JR AVE #3, SALISBURY, NC 28144-5594
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2023
$130,000
Alco Property Group LLC
Hole In One Properties LLC
Warranty Deed
$110,500 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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