Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Retail space
202 1st E St Conover, NC 28613-2104
Entity Owned
8-yr Hold
Free & Clear
Property ID
US53-1798061
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,582 SF
Lot
1.94 ac (84,506 SF)
Zoning code
B-3
APN
3741-05-18-7906
UPID
US53-1798061
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
$600k
Comparable Approach
Comparable
$591k
Blend (final)
Blend
$545k
Owner & transaction history
City Of Conover · 8 yrs held
City Of Conover
since 2018
2 recorded transactions
Zoning & alternative use
B-3 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is the central shopping area of the city and functions as the historic main commercial area. It is established for those uses which normally require a central location and which provide merchandise and services to be used by the entire city and its environs. It is intended that this district shall develop and be maintained with a strong focus o…
Zone name
Central Business
General category
COMMERCIAL
Zone area
32.33 ac
Source
Realmo
Top alternative use upside
Medical building
$680,000
+96.6%
Auto repair, garage
$365,000
+5.5%
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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%
$650,000
6.5%
$600,000
7%
$560,000
Alternative Use
Use
Estimation
RETAIL STORES
$345,000
Current use
MEDICAL BUILDING
$680,000
Change: +97% · Conversion: Difficult
AUTO REPAIR, GARAGE
$365,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$152 / 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
$5,680
Tax year 2023
Assessed value
$715,800
Assessed 2023
Previous assessed
$715,800
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$289,800
Assessed improvement
$426,000
Land market value
$289,800
Improvement market value
$426,000
Total market value
$715,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
CENTRAL
Buildings
2
Units
1
Total area
3,582 SF
Lot
1.94 ac (84,506 SF)
Zoning code
B-3
APN
3741-05-18-7906
UPID
US53-1798061
Jurisdiction
CATAWBA
Zoning & alternative use
B-3 · Conover, NCZoning B-3 · permitted uses
B-3 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is the central shopping area of the city and functions as the historic main commercial area. It is established for those uses which normally require a central location and which provide merchandise and services to be used by the entire city and its environs. It is intended that this district shall develop and be maintained with a strong focus on pedestrian connectivity throughout the area and incorporating quality urban design in new construction and renovations by placing buildings close to the public sidewalk area and providing architectural elements to the building faade(s) such as large storefront windows and doors to welcome patrons and create a sense of place.
Zone name
Central Business
General category
COMMERCIAL
Zone area
32.33 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$345,000
MEDICAL BUILDING
Est. value
$680,000
AUTO REPAIR, GARAGE
Est. value
$365,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Buildings
2
Units
1
Lot
1.94 ac
Current owner
From public records · entity-resolved
City Of Conover
Entity
Free & Clear · 8 yrs held
Mailing address
PO BOX 400, CONOVER, NC 28613-0400
Ownership since
2018
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
Apr 12, 2018
$100,000
City Of Conover
Whitmire,l J III & Elizabeth S
Warranty Deed
—
Aug 2, 2017
$500
City Of Conover
Branch Bkng & Trust Co
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 202 1st E St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
