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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
214 Klumac Rd, Salisbury, NC 28144-6764
Entity Owned
~
Est. High Equity
Property ID
US53-5694611
Property summary
AI-generated overview
This Salisbury, NC office building presents a compelling investment opportunity. The 5,600 square foot, two-story building boasts 100% occupancy with two tenants, generating a strong NOI of $53,926 and a 6.75% cap rate. Built in 2005, this Class B property features three units and sits on a 0.47-acre lot with ample parking. No leases expire before 2027, offering long-term stability. The asking price is $799,000, translating to $142.68 per square foot. Its strategic location in Salisbury, part of the Charlotte metro area, provides easy access to major highways (I-85, Hwy-29, Hwy-52, and Hwy-601). An adjacent 1.02-acre commercially zoned lot is also available for potential expansion. This stabilized investment offers below-market rents, promising significant future growth potential. The property's strong cash flow and prime location make it an attractive addition to any portfolio. This is a rare opportunity to acquire a well-maintained, fully occupied office building in a thriving market.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
5,900 SF
Lot
0.47 ac (20,299 SF)
Zoning code
M1
APN
017 010
UPID
US53-5694611
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
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$484k
Blend (final)
Blend
$535k
Owner & transaction history
Axis25 LLC
Axis25 LLC
since 2025
Last sale
$625,000
7 recorded transactions
Zoning & alternative use
M1 · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$860,000
+27.0%
Medical building
$830,000
+22.8%
Commercial (general)
$785,000
+16.1%
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
$485,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$675,000
Current use
AUTO REPAIR, GARAGE
$860,000
Change: +27% · Conversion: Difficult
MEDICAL BUILDING
$830,000
Change: +23% · Conversion: Easy
COMMERCIAL (GENERAL)
$785,000
Change: +16% · Conversion: Easy
RESTAURANT
$710,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $625k (Nov 6 2023)
Last sale anchor
$625k
Nov 6 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
$91 / 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
$5,572
Tax year 2023
Assessed value
$465,917
Assessed 2023
Previous assessed
$465,917
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$44,400
Assessed improvement
$421,517
Land market value
$44,400
Improvement market value
$421,517
Total market value
$465,917
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
NONE
Stories
1
Units
1
Bathrooms
1
Total area
5,900 SF
Lot
0.47 ac (20,299 SF)
Zoning code
M1
APN
017 010
UPID
US53-5694611
Jurisdiction
ROWAN
Zoning & alternative use
M1 · Salisbury, NC
Zoning M1 · permitted uses
M1 · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$860,000
MEDICAL BUILDING
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$785,000
RESTAURANT
Est. value
$710,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
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
2005
Heating
NONE
Stories
1
Units
1
Bathrooms
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Axis25 LLC
Entity
Mailing address
1634 FITZGERALD ST NW, CONCORD, NC 28027-3686
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2025
$590,000
Axis25 LLC
Prime Infra Salisbury 1 Nc LLC
Warranty Deed
$472,000 · First National Bank Of Pennsylvania
Nov 6, 2023
$625,000
Prime Infra Salisbury 1 Nc LLC
4300 Clarcona Ocoee Road LLC
Warranty Deed
$468,750 · Cogent Bank
Jan 3, 2022
$562,000
4300 Clarcona Ocoee Road LLC
Salisbury Place LLC
Special Warranty Deed
—
May 29, 2007
$395,000
Salisbury Place LLC
Jarco Realty LLC
Warranty Deed
$475,000 · The Fidelity Bank
Jun 7, 2005
—
Jarco Realty LLC
Queen,rodney W & Jayne W
Warranty Deed
—
—
—
Salisbury Place LLC
—
Deed Of Trust
related
$270,000 · First Bank
—
—
Rodney Queen Construction LLC
—
Deed Of Trust
related
$392,000 · Bank Of North Carolina
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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