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Property profile & analytics
OFF-MARKET
Estimated value
$2,545,000
Auto shops
1934 College Ave, Forest City, NC 28043-9608
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-3228584
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2004
Total area
6,710 SF
Lot
2.77 ac (120,661 SF)
Zoning code
M1
APN
1636176
UPID
US53-3228584
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
$2.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.55M
Owner & transaction history
Mayday Hardware And Supply Co INC · 1 yrs held
Mayday Hardware And Supply Co INC
since 2024
Last sale
$2.5M
2 recorded transactions
Zoning & alternative use
M1 · Forest City, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+314.7%
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 Forest City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest City 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
$2,545,000
ML approach
$2,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,885,000
Change: +315% · Conversion: Moderate
Blend value · Realmo final
$2.55M
Range $2.29M – $2.80M · ±10% · vs last sale $2.55M (Oct 22 2024)
Last sale anchor
$2.55M
Oct 22 2024
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
$379 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$8,310
Tax year 2021
Assessed value
$927,000
Assessed 2023
Previous assessed
$927,000
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$602,000
Assessed improvement
$325,000
Land market value
$602,000
Improvement market value
$325,000
Total market value
$927,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2004
Heating
FORCED AIR
Cooling
PARTIAL
Stories
1
Bathrooms
3
Total area
6,710 SF
Lot
2.77 ac (120,661 SF)
Zoning code
M1
APN
1636176
UPID
US53-3228584
Jurisdiction
RUTHERFORD
Zoning & alternative use
M1 · Forest City, NC
Zoning M1 · permitted uses
M1 · Forest City, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.9M
COMMERCIAL (GENERAL)
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
2004
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
3
Lot
2.77 ac
Current owner
From public records · entity-resolved
Mayday Hardware And Supply Co INC
Entity
Free & Clear · 1 yrs held
Mailing address
777 3RD AVE, NEW YORK, NY 10017-1401
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2024
$2,545,500
Mayday Hardware And Supply Co INC
Obc Forest City LLC
Special Warranty Deed
—
Jun 25, 2021
$1,575,000
Obc Forest City LLC
Von Ulric INC
Special Warranty Deed
$1,338,331 · Bay Vanguard 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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