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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Investment properties
199 Cherry St, Cherryville, NC 28021-3657
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1751781
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1996
Total area
3,528 SF
Lot
27.45 ac (1,195,722 SF)
Zoning code
STOR1
APN
131184
UPID
US53-1751781
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
by Request
CAP Approach
CAP
$780k
Comparable Approach
Comparable
$627k
Blend (final)
Blend
$655k
Owner & transaction history
Robert T Johnson III · 4 yrs held
Robert T Johnson III
since 2022
3 recorded transactions
Zoning & alternative use
STOR1 · Cherryville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$560,000
+29.6%
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 Cherryville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cherryville 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%
$845,000
6.5%
$780,000
7%
$725,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$435,000
Current use
MEDICAL BUILDING
$560,000
Change: +30% · Conversion: Easy
Blend value · Realmo final
$655k
Range $590k – $721k · ±10%
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
$186 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$2,635
Tax year 2024
Assessed value
$244,190
Assessed 2024
Previous assessed
$244,190
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$158,980
Assessed improvement
$85,210
Applied tax rate
140.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1996
Heating
HEAT PUMP
Stories
1
Rooms
1
Total area
3,528 SF
Lot
27.45 ac (1,195,722 SF)
Zoning code
STOR1
APN
131184
UPID
US53-1751781
Jurisdiction
GASTON
Zoning & alternative use
STOR1 · Cherryville, NC
Zoning STOR1 · permitted uses
STOR1 · Cherryville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cherryville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$435,000
MEDICAL BUILDING
Est. value
$560,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
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
Heating
HEAT PUMP
Stories
1
Rooms
1
Lot
27.45 ac
Current owner
From public records · entity-resolved
Robert T Johnson III
Individual
Free & Clear · 4 yrs held
Mailing address
417 WHITE JENKINS RD, BESSEMER CITY, NC 28016-7754
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Aug 19, 2024
—
Robert T Johnson III
—
Deed
related
$43,637 · Commercial Bank
Apr 4, 2022
—
Robert T Johnson III
Champion Plumbing Of The Carolinas
Warranty Deed
—
Dec 9, 2021
$300,000
Champion Plumbing Of The Carolinas
Ricky Allen Walker
Warranty Deed
$255,000 · Alliance Bank & Trust Co
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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