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Property profile & analytics
OFF-MARKET
Estimated value
$7,665,000
Medical Office Space
1771 Tate Blvd Se Ste 101, Hickory, NC 28602-4250
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1441982
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Total area
57,658 SF
Lot
10.64 ac (463,478 SF)
Zoning code
OI
APN
3712-06-48-6710
UPID
US53-1441982
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
$9.55M
Comparable Approach
Comparable
$4.84M
Blend (final)
Blend
$7.67M
Owner & transaction history
Wake Forest Health Network · 2 yrs held
Wake Forest Health Network
since 2024
3 recorded transactions
Zoning & alternative use
OI · Hickory, 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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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%
$10,340,000
6.5%
$9,545,000
7%
$8,865,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$10,950,000
Current use
Blend value · Realmo final
$7.67M
Range $6.90M – $8.43M · ±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
$133 / 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
$177,115
Tax year 2023
Assessed value
$20,751,600
Assessed 2023
Previous assessed
$20,751,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$864,700
Assessed improvement
$19,886,900
Land market value
$864,700
Improvement market value
$19,886,900
Total market value
$20,751,600
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
2001
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Units
1
Total area
57,658 SF
Lot
10.64 ac (463,478 SF)
Zoning code
OI
APN
3712-06-48-6710
UPID
US53-1441982
Jurisdiction
CATAWBA
Zoning & alternative use
OI · Hickory, NC
Zoning OI · permitted uses
OI · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$11.0M
MEDICAL BUILDING 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
2001
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
1
Lot
10.64 ac
Current owner
From public records · entity-resolved
Wake Forest Health Network
Individual
Mailing address
1985 TATE BLVD SE STE #756, HICKORY, NC 28602-1433
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jun 27, 2024
—
Tate Boulevard III LLC
—
Deed
related
$25,000 · Protective Life Insurance Co
Apr 16, 2024
—
Wake Forest Health Network
Tate Boulevard III LLC
Deed
—
—
—
Tate Boulevard III LLC
—
Deed Of Trust
related
$11,700,000 · Genworth Life Insurance 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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