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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Medical Office Space
1640 Roosevelt Blvd Monroe, NC 28112-4017
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US53-5597411
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Total area
10,245 SF
Lot
1.35 ac (58,806 SF)
Zoning code
GB MONROE
APN
09-155-002B
UPID
US53-5597411
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
-
Dr. Roy C. Blank, MD Physician
-
Dr. Martin J. Kreshon, MD Physician
-
Novant Health Heart & Vascular Institute - Monroe Medical Clinic
-
Melissa Benson, ANP Physician
-
Dr. Sameer S. Chaudhari, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.32M
Owner & transaction history
Sandmark Holdings LLC · 8 yrs held
Sandmark Holdings LLC
since 2018
3 recorded transactions
Zoning & alternative use
GB MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
monroe udo
Top alternative use upside
Restaurant
$1.2M
+17.3%
Retail stores
$1.1M
+6.3%
Office building
$1.1M
+4.0%
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
MEDICAL BUILDING
$1,035,000
Current use
RESTAURANT
$1,215,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$1,100,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$1,075,000
Change: +4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,015,000
Change: -2% · Conversion: Moderate
AUTO REPAIR, GARAGE
$990,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$910,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±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
$129 / 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
$18,239
Tax year 2023
Assessed value
$1,672,500
Assessed 2023
Previous assessed
$1,672,500
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$349,300
Assessed improvement
$1,323,200
Land market value
$349,300
Improvement market value
$1,323,200
Total market value
$1,672,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2002
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
10,245 SF
Lot
1.35 ac (58,806 SF)
Zoning code
GB MONROE
APN
09-155-002B
UPID
US53-5597411
Jurisdiction
UNION
Zoning & alternative use
GB MONROE · Monroe, NCZoning GB MONROE · permitted uses
GB MONROE · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
monroe udo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.0M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$990,000
COMMERCIAL (GENERAL)
Est. value
$910,000
MEDICAL BUILDING Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2002
Heating
YES
Cooling
Yes
Stories
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
Sandmark Holdings LLC
Entity
Mailing address
8807 ROSSLARE VILLAS CT, CHARLOTTE, NC 28226-2681
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jul 19, 2018
$2,000,000
Sandmark Holdings LLC
Sharon Lakes INC
Grant Deed
$1,600,000 · Carter Bk&tr
Jul 9, 2008
$3,200,000
Sharon Lakes INC
Winchester Properties Bfr LLC
Special Warranty Deed
$2,560,000 · Paragon Commercial Bank
May 27, 2005
$275,000
Ceenta Fairview Properties LLC
Pgg & H
Warranty Deed
—
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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