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Property profile & analytics
OFF-MARKET
Estimated value
$3,485,000
Assisted living facilities
17 Cornelia St Lexington, NC 27292-4140
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-2005919
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
34,372 SF
Lot
4.17 ac (181,645 SF)
Zoning code
B
APN
11-044-0-000-0006-A
UPID
US53-2005919
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
-
Lexington Health Care Center Occupational Therapist Physical Therapist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.49M
Owner & transaction history
17 Cornelia Drive LLC · 5 yrs held
17 Cornelia Drive LLC
since 2021
Last sale
$3.5M
2 recorded transactions
Zoning & alternative use
B · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of thebusinessdistrictis to accommodate a wide range of retail, service, governmental, and office uses that serve not only the Lexington community, but also travelers along key highway corridors. Thisdistrictprovides an opportunity for economic development with convenient automobile access, minimal traffic congestion, and reduced visual clutter al…
Zone name
Business Zoning District
General category
CIVIC_INSTITUTIONAL
Zone area
1,501.39 ac
Source
Realmo
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
$2,835,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,690,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,300,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.49M
Range $3.14M – $3.83M · ±10% · vs last sale $3.48M (Jun 2 2021)
Last sale anchor
$3.48M
Jun 2 2021
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
$101 / 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
$37,298
Tax year 2023
Assessed value
$2,847,150
Assessed 2023
Previous assessed
$2,847,150
+0.0% YoY
Effective rate
1.31%
On assessed value
Land market value
$104,250
Improvement market value
$2,742,900
Total market value
$2,847,150
Applied tax rate
11.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Units
40
Total area
34,372 SF
Lot
4.17 ac (181,645 SF)
Zoning code
B
APN
11-044-0-000-0006-A
UPID
US53-2005919
Jurisdiction
DAVIDSON
Zoning & alternative use
B · Lexington, NCZoning B · permitted uses
B · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of thebusinessdistrictis to accommodate a wide range of retail, service, governmental, and office uses that serve not only the Lexington community, but also travelers along key highway corridors. Thisdistrictprovides an opportunity for economic development with convenient automobile access, minimal traffic congestion, and reduced visual clutter along designated commercial corridors.
Zone name
Business Zoning District
General category
CIVIC_INSTITUTIONAL
Zone area
1,501.39 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
40
Lot
4.17 ac
Current owner
From public records · entity-resolved
17 Cornelia Drive LLC
Entity
Mailing address
2917 PENN FRST BLVD #200, ROANOKE, VA 24018-4304
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2021
$3,483,500
17 Cornelia Drive LLC
Medical Facilities America Lxxv LP
Special Warranty Deed
$665,964,616 · Capital Funding
—
—
Medical Facilities Of America Lxx
—
Deed Of Trust
related
$1,619,300 · Lancaster Pollard Mortgage Co
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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