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Property profile & analytics
OFF-MARKET
Hotels
222 Ctr St 226, Statesville, NC 28677-5807
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-2305538
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1921
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
67,176 SF
Lot
1.12 ac (48,831 SF)
Zoning code
CB
APN
4734-95-9167.000
UPID
US53-2305538
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
-
Historic Vance Hotel Parking Parking Lot & Garage
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
Thomaston Properties LLC · 1 yrs held
Thomaston Properties LLC
since 2025
Last sale
$156,500
6 recorded transactions
Zoning & alternative use
CB · 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)
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
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
$525
Tax year 2023
Assessed value
$47,000
Assessed 2023
Previous assessed
$1,045,250
-95.5% YoY
Effective rate
1.12%
On assessed value
Assessed improvement
$47,000
Improvement market value
$47,000
Total market value
$47,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1921
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
3
Stories
3
Units
94
Rooms
17
Bathrooms
3
Total area
67,176 SF
Lot
1.12 ac (48,831 SF)
Zoning code
CB
APN
4734-95-9167.000
UPID
US53-2305538
Jurisdiction
IREDELL
Zoning & alternative use
CB · Statesville, NC
Zoning CB · permitted uses
CB · 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
1921
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
3
Buildings
3
Units
94
Rooms
17
Bathrooms
3
Lot
1.12 ac
Current owner
From public records · entity-resolved
Thomaston Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
501 EE BLVD, CHARLOTTE, NC 28203-5109
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2025
$156,500
Thomaston Properties LLC
Vance Hotel Partners LLC
Special Warranty Deed
—
Dec 11, 2024
$336,000
325 Albany Avenue LLC
Vance Hotel Partners LLC
Special Warranty Deed
—
May 10, 2024
—
Statesville Ventures LLC
Vance Hotel Partners LLC
Deed
—
Sep 6, 2022
—
Vance Hotel Partners LLC
City Of Statesville
Warranty Deed
—
Aug 3, 2022
$47,000
Vance Hotel Partners LLC
City Of Statesville
Warranty Deed
—
Jun 6, 2008
$640,000
Thomas Wilson Properties LLC
Dawn Holding LLC
Warranty Deed
$400,000 · Peoples Bank & Trust
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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