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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Medical Office Space
221 Simpson Park Rd Shelby, NC 28150-4299
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-2526001
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1996
Total area
3,507 SF
Zoning code
RO
APN
49304
UPID
US53-2526001
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
-
Shelby Pediatric Dentistry - Formerly Philip F. Jiamachello, DDS Dental Office
-
Mace Elizabeth Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
$660k
Comparable Approach
Comparable
$628k
Blend (final)
Blend
$640k
Owner & transaction history
Shelby Dre LLC · 2 yrs held
Shelby Dre LLC
since 2023
Last sale
$840,000
2 recorded transactions
Zoning & alternative use
RO · Shelby, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RO residential office district is primarily intended to accommodate high density multifamily residences offices public and institutional business, professional and personal services and limited support retail businesses, permitted residential uses include single family detached dwellings, modular homes, apartments, townhomes and condominiums, public wate…
Zone name
Residential Office
General category
MIXED_USE
Zone area
412.50 ac
Source
Realmo
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 Shelby submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby 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
$680,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
$710,000
6.5%
$660,000
7%
$610,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$480,000
Current use
OFFICE BUILDING
$460,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$430,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $840k (Dec 8 2023)
Last sale anchor
$840k
Dec 8 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
$182 / 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
$6,458
Tax year 2024
Assessed value
$535,958
Assessed 2023
Previous assessed
$535,958
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$162,043
Assessed improvement
$373,915
Land market value
$162,043
Improvement market value
$373,915
Total market value
$535,958
Applied tax rate
6.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1996
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Total area
3,507 SF
Zoning code
RO
APN
49304
UPID
US53-2526001
Jurisdiction
CLEVELAND
Zoning & alternative use
RO · Shelby, NCZoning RO · permitted uses
RO · Shelby, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RO residential office district is primarily intended to accommodate high density multifamily residences offices public and institutional business, professional and personal services and limited support retail businesses, permitted residential uses include single family detached dwellings, modular homes, apartments, townhomes and condominiums, public water and sewer service is generally available in areas zoned as RO, one of the objectives of this district is to encourage land uses that serve as an adequate buffer between intensive nonresidential uses and residential uses
Zone name
Residential Office
General category
MIXED_USE
Zone area
412.50 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$480,000
OFFICE BUILDING
Est. value
$460,000
AUTO REPAIR, GARAGE
Est. value
$430,000
MEDICAL BUILDING Current
OFFICE 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
1996
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Shelby Dre LLC
Entity
Mailing address
8604 CLF CAMERON DR STE #170, CHARLOTTE, NC 28269-8505
Ownership since
2023
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
Dec 8, 2023
$840,000
Shelby Dre LLC
Pospr LLC
Warranty Deed
$798,000 · First Citizens Bank & Trust Co
Jan 6, 2020
—
Pospr LLC
Philip F Jiamachello
Warranty 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.
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