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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Banks
224 Warren St Shelby, NC 28150-2622
Entity Owned
Free & Clear
Property ID
US53-2774873
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1965
Total area
12,246 SF
Lot
0.92 ac (40,000 SF)
Zoning code
CB
APN
17148
UPID
US53-2774873
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
-
Phoenix Therapy Services, PLLC Physician
-
HomeTrust Bank - Shelby Bank Loan Service
-
Uptown Shirt Factory Clothing Store
-
Insulate America General Contractor
-
Cleveland County Association-Realtors Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$698k
Blend (final)
Blend
$570k
Owner & transaction history
SHELBY SAVINGS BANK SSB
SHELBY SAVINGS BANK SSB
Zoning & alternative use
CB · Shelby, 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 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
by Request
ML approach
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$825,000
Current use
Blend value · Realmo final
$570k
Range $513k – $627k · ±10%
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
$47 / 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
$23,018
Tax year 2024
Assessed value
$1,581,981
Assessed 2023
Previous assessed
$1,581,981
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$199,800
Assessed improvement
$1,382,181
Land market value
$199,800
Improvement market value
$1,382,181
Total market value
$1,581,981
Applied tax rate
25.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1965
Heating
YES
Cooling
AC.FAN COOLING
Stories
2
Total area
12,246 SF
Lot
0.92 ac (40,000 SF)
Zoning code
CB
APN
17148
UPID
US53-2774873
Jurisdiction
CLEVELAND
Zoning & alternative use
CB · Shelby, NC
Zoning CB · permitted uses
CB · Shelby, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$825,000
FINANCIAL BUILDING 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
1965
Heating
YES
Cooling
Yes
Stories
2
Lot
0.92 ac
Current owner
From public records · entity-resolved
SHELBY SAVINGS BANK SSB
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 10, ASHEVILLE, NC 28802-0010
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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