Entity Owned
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For Lease
Contact for pricing
1899 Tate Blvd Southeast, Hickory, NC 28602
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Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
55,384 SF
Lot
3.88 ac (169,013 SF)
Zoning code
IND
APN
3712-07-58-7236
UPID
US53-1218470
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medical Group
-
Physician Medical Clinic
-
Medical Clinic
-
Physician Medical Clinic
-
Physician Medical Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.25M
CAP Approach
CAP
$9.17M
Comparable Approach
Comparable
$9.47M
Blend (final)
Blend
$8.92M
Owner & transaction history
since 2022
Last sale
$9.4M
3 recorded transactions
Zoning & alternative use
IND · Hickory, NC
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities co…
General category
INDUSTRIAL
Top alternative use upside
Restaurant
$12.7M
+20.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$8.92M
Value range
$8.02M – $9.81M
±10% around blend
Estimated value / SF
$161 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$8.02M
blend $8.92M
$9.81M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
55,384 SF
Lot area
3.88 ac
Year built
1997
Stories
2
APN
3712-07-58-7236
Zoning
IND
Assessed value
$9,284,800
Annual tax
$79,246
3
Income approach: direct capitalization
Partial preview
Income approach indication
$9.17M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$9.94M
@ 6.5% CAP return
$9.17M
@ 7% CAP return
$8.52M
4
Sales comparison
Partial preview
Sales approach indication
$9.47M
Range $5.43M – $14.68M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.92M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 25 sales
$190
-15%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $161/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+21%
vs current-use indication
Medical Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
6.70%
Implied, in-place cap rate for this medical office space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.70%
9.0%
NOI (est.)
$658k *
Last sale · Mar 2022
$9.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$9.82M
Move the market yield to see immediate price impact.
Value / SF
$177
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.20%6.70%7.20%
$592k
$9.55M
$8.84M
$8.23M
$658k
$10.61M
$9.82M
$9.14M
$724k
$11.67M
$10.80M
$10.05M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$79,246
Tax year 2023
Assessed value
$9,284,800
Assessed 2023
Previous assessed
$9,284,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$456,300
Assessed improvement
$8,828,500
Land market value
$456,300
Improvement market value
$8,828,500
Total market value
$9,284,800
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Units
1
Total area
55,384 SF
Lot
3.88 ac (169,013 SF)
Zoning code
IND
APN
3712-07-58-7236
UPID
US53-1218470
Jurisdiction
CATAWBA
Zoning & alternative use
IND · Hickory, NCZoning IND · permitted uses
IND · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities co…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
1
Lot
3.88 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
IND
INDUSTRIAL
Jurisdiction
Hickory, NC
Recorded code
IND
Official district
IND
Official district profile
What the municipal code says about IND
Zoning description
The IND District is intended to provide locations for the development of land uses generally devoted to manufacturing, processing and assembly, warehousing, distribution and servicing enterprises and office activities co…
General category
INDUSTRIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IND in Hickory, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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