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Property profile & analytics
OFF-MARKET
Office buildings
220 Water St, Statesville, NC 28677-5230
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-5444805
Property summary
AI-generated overview
This charming 150-square-foot office space is located in a historic two-story building at 220 E Water St, Statesville, NC 28677, across from the Iredell County Courthouse. Built in 1916, the building offers a unique blend of old-world charm and modern convenience. This Class B property features 8-foot ceilings and is zoned OI. The suite includes a large storage closet. Shared amenities include a common area hallway and two bathrooms. The building has a total of 2,752 square feet and four suites. Fifteen parking spaces are available. The property sits on 0.16 acres of land and is conveniently located in downtown Statesville. Monthly rent is $550, with an additional $50 for CAM charges. No elevators are present. The property's APN is 4744-06-7675 . 000. Utilities are included. This space is ideal for a small business or individual professional seeking a unique and well-located office.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1916
Total area
2,752 SF
Lot
0.16 ac (6,970 SF)
Zoning code
O-1
APN
4744-06-7675.000
UPID
US53-5444805
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
-
Little Nelson C Law Firm
-
American Bail Bonds Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jjgit Estate Holdings LLC · 3 yrs held
Jjgit Estate Holdings LLC
since 2022
Last sale
$300,000
3 recorded transactions
Zoning & alternative use
O-1 · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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)
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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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,054
Tax year 2023
Assessed value
$94,300
Assessed 2023
Previous assessed
$70,030
+34.7% YoY
Effective rate
1.12%
On assessed value
Assessed land
$40,000
Assessed improvement
$54,300
Land market value
$40,000
Improvement market value
$54,300
Total market value
$94,300
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
1916
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
2,752 SF
Lot
0.16 ac (6,970 SF)
Zoning code
O-1
APN
4744-06-7675.000
UPID
US53-5444805
Jurisdiction
IREDELL
Zoning & alternative use
O-1 · Statesville, NC
Zoning O-1 · permitted uses
O-1 · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1916
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Jjgit Estate Holdings LLC
Entity
Free & Clear · 3 yrs held
Mailing address
256 RACEWAY DR STE #12, MOORESVILLE, NC 28117-6514
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
Sep 28, 2022
$300,000
Jjgit Estate Holdings LLC
C&d Properties Of Nc LLC
Special Warranty Deed
—
Apr 28, 2008
$150,000
C&d Properties Of Nc LLC
Thomas J Dellinger
Warranty Deed
$150,000 · Wachovia Bank NA
Feb 11, 2004
—
Iredell County
West,roy C
Grant Deed
related
—
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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