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Property profile & analytics
OFF-MARKET
Estimated value
$1,690,000
Office buildings
1978 8th NW Ave Hickory, NC 28601-3312
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US53-0265123
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
METAL FRAME
Total area
22,500 SF
Lot
3.67 ac (159,865 SF)
Zoning code
IND
APN
2793-15-64-1106
UPID
US53-0265123
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
-
Agemark LLC Nursing Home Retirement Community
-
Dominion Group Llc Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$1.69M
Owner & transaction history
Union Square Investors LLC · 19 yrs held
Union Square Investors LLC
since 2006
Last sale
$1.7M
4 recorded transactions
Zoning & alternative use
IND · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.7M
+2.7%
Retail stores
$2.7M
+1.9%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,600,000
Current use
AUTO REPAIR, GARAGE
$2,670,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$2,650,000
Change: +2% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,390,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,220,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.69M
Range $1.52M – $1.86M · ±10% · vs last sale $1.70M (Sep 13 2024)
Last sale anchor
$1.70M
Sep 13 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
$75 / 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
$10,552
Tax year 2023
Assessed value
$1,236,300
Assessed 2023
Previous assessed
$1,236,300
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$143,900
Assessed improvement
$1,092,400
Land market value
$143,900
Improvement market value
$1,092,400
Total market value
$1,236,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1996
Construction
METAL FRAME
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
22,500 SF
Lot
3.67 ac (159,865 SF)
Zoning code
IND
APN
2793-15-64-1106
UPID
US53-0265123
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
OFFICE BUILDING Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.7M
RETAIL STORES
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1996
Construction
METAL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
3.67 ac
Current owner
From public records · entity-resolved
Union Square Investors LLC
Entity
Mailing address
421 32ND AVE DR NW, HICKORY, NC 28601-1043
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2006
$92,000
Union Square Investors LLC
Crowe,lance
Warranty Deed
$812,000 · Cv Bank
Nov 21, 2006
$552,000
Union Square Investors LLC
Fuller,john G & Elizabeth L F L
Warranty Deed
—
Nov 21, 2006
—
John G Fuller
Airport Business Park LLC
Warranty Deed
related
—
—
—
Union Square Investors LLC
—
Deed Of Trust
related
$775,000 · Carolina Trust 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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