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    1960 16th NE St Hickory, NC 28601-2156
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    Property profile & analytics

    1960 16th NE St, Hickory, NC 28601-2156

    View on Map
    • Garden apartment buildings
    • 9,112 SF
    • 0.69 lot acres
    Off-Market
    Last Sale Aug 23, 2022
    Property ID
    US53-2206825
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • A3 Jewelry Project / Charitable Organization / Social Service Agency

    Property Details for 1960 16th NE St

    Year built
    1994
    Construction
    FRAME
    Lot size
    0.69 lot acres
    Zone code
    R-4
    Property type
    Garden apartment buildings
    APN
    3713-07-68-2235
    APU
    371307682235

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 17, 2025 — Hickory Owner LLC Hickory Preserve LLC Warranty Deed —
    Jul 17, 2025 $5,000 Hickory Owner LLC Hickory Preserve LLC Special Warranty Deed $47.1M · Greystone Servicing Company LLC
    Aug 23, 2022 — Hickory Preserve LLC Lexington Hickory LLC Warranty Deed —
    Jan 10, 2018 — East Side Prop Of Hickory LLC East Side Prop Of Hickory II L Quit Claim Deed · related —
    Mar 22, 2006 — East Side Props Of Hickory II LLC East Side Props Of Hickory LLC Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $825,000
      Market price range: $540k - $2.19M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $970,000
      Current use
      AUTO REPAIR, GARAGE
      $1,080,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $1,075,000
      Change: +11% Conversion: Difficult
      OFFICE BUILDING
      $1,055,000
      Change: +9% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $900,000
      Change: -7% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3048
    Latitude
    35.7567
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,800
    $36,100
    $643,500
    $679,600
    -
    $36,100
    $643,500
    $679,600

    Comparable in this City

    • Value Estimation
      $550,000
      5,842 SF

      616 22nd NE Ave, Unit A

      GARDEN APT, COURT APT (5+ UNITS)
      616 22nd NE Ave, Hickory, NC 28601-1502
      View Details
    • Value Estimation by Request
      4,160 SF

      1941 20th Ave NE Dr, Unit 1

      GARDEN APT, COURT APT (5+ UNITS)
      1941 20th Ave NE Dr, Hickory, NC 28601-0575
      View Details
    • Value Estimation by Request
      1,755 SF

      2875 Highland NE Ave

      GARDEN APT, COURT APT (5+ UNITS)
      2875 Highland NE Ave, Hickory, NC 28601-8103
      View Details
    • Value Estimation
      $1,710,000
      15,692 SF

      720 7th NE Ave

      GARDEN APT, COURT APT (5+ UNITS)
      720 7th NE Ave, Hickory, NC 28601-3959
      View Details
    • Value Estimation
      $515,000
      7,024 SF

      222 9th Ave NE Dr

      GARDEN APT, COURT APT (5+ UNITS)
      222 9th Ave NE Dr, Hickory, NC 28601-3850
      View Details
    • Value Estimation
      $755,000
      6,032 SF

      653 17th NW St, Unit 1

      GARDEN APT, COURT APT (5+ UNITS)
      653 17th NW St, Hickory, NC 28601-4788
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26,000 SF

      Hickory Multifamily Investment Opportunity

      41-unit multifamily property with value-add potential in Hickory, NC.
      386 17Th Ave NE, Hickory, NC 28601
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      4,436 SF

      Downtown Hickory Investment Opportunity

      Mixed-use building with apartments and commercial space in downtown Hickory.
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    • $399,900
      0.44 Acres

      Duplex with Lake Hickory Views

      Charming duplex with year-round lake views near Lake Hickory.
      500 Steel Bridge Loop, Hickory, NC 28601
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      Residential Land in Viewmont, Hickory

      Wooded lot in Viewmont, close to amenities and major highways.
      453 17Th Avenue Cir, Hickory, NC 28601
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    • $1,550,000

      Retail Property with Drive Thru

      Retail property on 1.35 acres with drive-thru ATM.
      1625 N Center St, Hickory, NC 28601
      View Details
    • $175,000
      1.06 Acres

      Hickory, NC Buildable Land

      1.06-acre CC-2 zoned parcel in a key growth node.
      Springs Rd NE, Hickory, NC 28601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,520 SF

      Regional Shopping Center Retail Space

      Retail spaces available in Hickory's Belle Hollow shopping center.
      2982-3022 N Center St, Hickory, NC 28601
      View Details
    • Contact for pricing

      Hickory Retail Space Available

      Retail spaces available, ranging from 2,300 to 39,601 SqFt.
      2515 Springs Rd NE, Hickory, NC 28601
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Land for ground lease in a Food Lion anchored center.
      2630 2Nd Ave NW, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available, 1,806 sqft, single tenant building.
      12 1St Ave NW, Hickory, NC 28601
      View Details
    • Contact for pricing

      Spacious Commercial Property Near University

      Versatile 10,000+ SF commercial space near Lenoir-Rhyne University.
      391 10Th Avenue Dr Ne, Hickory, NC 28601
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    • Contact for pricing

      Retail Outparcel Opportunity Available

      Retail or restaurant site available in Hickory's premier shopping center.
      3020 N Center St, Hickory, NC 28601
      View Details
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    Hickory, NC 28601-2156
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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