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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Turn key restaurants
2208 Ctr St, Hickory, NC 28601-1333
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-1881947
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1964
Construction
WOOD
Total area
2,352 SF
Lot
0.59 ac (25,700 SF)
Zoning code
CC-2
APN
3704-20-80-0105
UPID
US53-1881947
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
$845k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$845k
Owner & transaction history
Mpm Hickory One LLC · 2 yrs held
Mpm Hickory One LLC
since 2024
Last sale
$845,000
4 recorded transactions
Zoning & alternative use
CC-2 · Hickory, 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 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
$845,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$540,000
Current use
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $845k (Feb 15 2024)
Last sale anchor
$845k
Feb 15 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
$359 / 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
$3,062
Tax year 2023
Assessed value
$358,800
Assessed 2023
Previous assessed
$358,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$218,400
Assessed improvement
$140,400
Land market value
$218,400
Improvement market value
$140,400
Total market value
$358,800
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1964
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,352 SF
Lot
0.59 ac (25,700 SF)
Zoning code
CC-2
APN
3704-20-80-0105
UPID
US53-1881947
Jurisdiction
CATAWBA
Zoning & alternative use
CC-2 · Hickory, NC
Zoning CC-2 · permitted uses
CC-2 · 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
RESTAURANT Current
Est. value
$540,000
RESTAURANT Current
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
1964
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Mpm Hickory One LLC
Entity
Free & Clear · 2 yrs held
Mailing address
5600 ROBINHOOD RD, CHARLOTTE, NC 28211-4173
Ownership since
2024
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
Feb 15, 2024
$845,000
Mpm Hickory One LLC
Madeline Cole Joyner
Warranty Deed
—
Jul 11, 2023
—
Madeline Cole Joyner
Kincade Properties LLC
Warranty Deed
—
Mar 22, 2023
$655,000
Kincade Properties LLC
Jerry Donald Moser
Special Warranty Deed
—
Aug 11, 2014
—
Jerry D Moser
Moser,jerry D & Ann B
Quit Claim 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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