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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Office Spaces
229 Whitney Dr, Locust, NC 28097-9443
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-1906550
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2008
Total area
9,000 SF
Lot
1.4 ac (60,984 SF)
Zoning code
CBI
APN
556401486780
UPID
US53-1906550
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
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$529k
Blend (final)
Blend
$580k
Owner & transaction history
Davis Logan LLC · 2 yrs held
Davis Logan LLC
since 2023
Last sale
$579,000
5 recorded transactions
Zoning & alternative use
CBI · Locust, 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 Locust submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Locust 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
$575,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $579k (Jul 28 2023)
Last sale anchor
$579k
Jul 28 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
$64 / 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
$3,317
Tax year 2024
Assessed value
$304,307
Assessed 2024
Previous assessed
$304,307
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$97,720
Assessed improvement
$206,587
Land market value
$97,720
Improvement market value
$206,587
Total market value
$304,307
Applied tax rate
550.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2008
Heating
YES
Cooling
NONE
Stories
1
Bathrooms
1
Total area
9,000 SF
Lot
1.4 ac (60,984 SF)
Zoning code
CBI
APN
556401486780
UPID
US53-1906550
Jurisdiction
STANLY
Zoning & alternative use
CBI · Locust, NC
Zoning CBI · permitted uses
CBI · Locust, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Locust. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2008
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.4 ac
Current owner
From public records · entity-resolved
Davis Logan LLC
Entity
Mailing address
229 WHITNEY DR, LOCUST, NC 28097-9443
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2023
—
David Logan LLC
—
Deed
related
$100,000 · Uwharrie Bank
Jul 28, 2023
$579,000
Davis Logan LLC
Todd M Schad
Warranty Deed
$425,184 · Uwharrie Bank
Dec 13, 2013
$172,000
Todd M Schad
Witherup,camden B & Douglas R
Grant Deed
—
Jun 21, 2013
$172,000
Todd M Schad
Witherup,camden B & Douglas R
Warranty Deed
—
Nov 8, 2005
$70,000
Michael D Bigham
Schad,todd M & Terri R
Warranty Deed
$40,000 · Todd M Schad
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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