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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Assisted living facilities
1812 New Town Rd Monroe, NC 28110-9574
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-1272673
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1929
Construction
WOOD
Total area
26,808 SF
Lot
21.98 ac (957,449 SF)
Zoning code
RA-20 UNION COUNTY
APN
09-351-002A
UPID
US53-1272673
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
-
Elizabethan Gardens Assisted Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.10M
Owner & transaction history
Complete Wellcare Source LLC · 1 yrs held
Complete Wellcare Source LLC
since 2025
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
RA-20 UNION COUNTY · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+73.9%
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
$1,045,000
ML approach
$1,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$820,000
Current use
AUTO REPAIR, GARAGE
$1,425,000
Change: +74% · Conversion: Difficult
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±10% · vs last sale $1.10M (May 15 2025)
Last sale anchor
$1.10M
May 15 2025
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
$41 / 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
$8,380
Tax year 2023
Assessed value
$1,320,900
Assessed 2023
Previous assessed
$1,320,900
+0.0% YoY
Effective rate
0.63%
On assessed value
Assessed land
$341,000
Assessed improvement
$979,900
Land market value
$341,000
Improvement market value
$979,900
Total market value
$1,320,900
Applied tax rate
915.0000
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
1929
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Buildings
5
Stories
3
Bathrooms
1
Total area
26,808 SF
Lot
21.98 ac (957,449 SF)
Zoning code
RA-20 UNION COUNTY
APN
09-351-002A
UPID
US53-1272673
Jurisdiction
UNION
Zoning & alternative use
RA-20 UNION COUNTY · Monroe, NC
Zoning RA-20 UNION COUNTY · permitted uses
RA-20 UNION COUNTY · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1929
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Buildings
5
Bathrooms
1
Lot
21.98 ac
Current owner
From public records · entity-resolved
Complete Wellcare Source LLC
Entity
Mailing address
1812 NEW TOWN RD, MONROE, NC 28110-9574
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
May 15, 2025
$1,100,000
Complete Wellcare Source LLC
Jimmy Franklin Moore
Warranty Deed
$1,020,000 · The Fidelity 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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