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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Banks
1938 Jake Alexander W Blvd, Salisbury, NC 28147-1136
Individually Owned
2-yr Hold
Free & Clear
Property ID
US53-5569440
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2006
Total area
9,986 SF
Lot
1.19 ac (51,836 SF)
APN
333 002
UPID
US53-5569440
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
$645k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$562k
Blend (final)
Blend
$740k
Owner & transaction history
The Elizabeth And Chelsea Abedi Rlt · 2 yrs held
The Elizabeth And Chelsea Abedi Rlt
since 2023
Last sale
$900,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$960,000
+15.9%
Medical building
$910,000
+10.0%
Auto repair, garage
$895,000
+7.9%
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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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
$695,000
ML approach
$645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$830,000
Current use
RESTAURANT
$960,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$910,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$895,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$870,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $900k (Jul 27 2023)
Last sale anchor
$900k
Jul 27 2023
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
$74 / 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
$25,180
Tax year 2023
Assessed value
$2,105,363
Assessed 2023
Previous assessed
$2,148,984
-2.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$933,048
Assessed improvement
$1,172,315
Land market value
$933,048
Improvement market value
$1,172,315
Total market value
$2,105,363
Applied tax rate
101.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2006
Heating
YES
Stories
2
Units
1
Total area
9,986 SF
Lot
1.19 ac (51,836 SF)
APN
333 002
UPID
US53-5569440
Jurisdiction
ROWAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$830,000
RESTAURANT
Est. value
$960,000
MEDICAL BUILDING
Est. value
$910,000
AUTO REPAIR, GARAGE
Est. value
$895,000
RETAIL STORES
Est. value
$870,000
FINANCIAL BUILDING Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2006
Heating
YES
Stories
2
Units
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
The Elizabeth And Chelsea Abedi Rlt
Individual
Free & Clear · 2 yrs held
Mailing address
PO BOX 1215, CORNELIUS, NC 28031-1215
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2023
$900,000
The Elizabeth And Chelsea Abedi Rlt
Walnut Hill Associates Ltd
Warranty Deed
—
Oct 16, 2013
—
Walnut Hill Associates Ltd
—
Deed Of Trust
related
$12,200,000 · Communityone Bank
Nov 5, 2008
$4,445,000
Walnut Hill Associates Ltd
Sbja LLC
Warranty Deed
—
Nov 5, 2008
—
Walnut Hill Associates Ltd
Sbja LLC
Grant Deed
related
$2,795,500 · Rbc Bank (usa)
Jul 28, 2005
—
Sbja LLC
Superior Oil Co INC
Quit Claim Deed
related
$741,895 · First National Bank
Feb 25, 2005
$200,000
Sbja LLC
Superior Oil Co INC
Warranty Deed
—
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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