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Property profile & analytics
OFF-MARKET
Estimated value
$9,340,000
Medical Office Space
1899 Tate SE Blvd Hickory, NC 28602-4200
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1218470
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Catawba Valley Medical Group Medical Group
-
Higerd, Michele L., MD Physician Medical Clinic
-
Piedmont Pathology Associates Inc Medical Clinic
-
Dr. Richard V. Paul, MD Physician Medical Clinic
-
Piedmont Nephrology Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.25M
CAP Approach
CAP
$9.17M
Comparable Approach
Comparable
$9.47M
Blend (final)
Blend
$9.34M
Owner & transaction history
Flagship 1899 Tate Se Hickory LLC · 4 yrs held
Flagship 1899 Tate Se Hickory LLC
since 2022
Last sale
$9.4M
3 recorded transactions
Zoning & alternative use
IND · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$12.7M
+20.7%
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
$8,915,000
ML approach
$9,250,000
CAP Approach
CAP Return
Estimation
6%
$9,935,000
6.5%
$9,170,000
7%
$8,515,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$10,520,000
Current use
RESTAURANT
$12,695,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$9.34M
Range $8.41M – $10.27M · ±10% · vs last sale $9.40M (Mar 11 2022)
Last sale anchor
$9.40M
Mar 11 2022
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
$169 / 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
$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
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
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, NC
Zoning IND · permitted uses
IND · 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
$10.5M
RESTAURANT
Est. value
$12.7M
MEDICAL BUILDING Current
RESTAURANT
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
1
Lot
3.88 ac
Current owner
From public records · entity-resolved
Flagship 1899 Tate Se Hickory LLC
Entity
Mailing address
2701 COLTSGATE RD STE #300, CHARLOTTE, NC 28211-3594
Ownership since
2022
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
Mar 11, 2022
$9,400,000
Flagship 1899 Tate Se Hickory LLC
Tate Boulevard II LLC
Special Warranty Deed
—
Nov 21, 2016
—
Tate Boulevard II LLC
—
Deed
related
$5,500,000 · Yadkin Bk
—
—
Tate Boulevard II LLC
—
Deed Of Trust
related
$5,500,000 · Yadkin Bk
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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