Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2361 Spgs NE Rd Hickory, NC 28601-3067
    Back to Search
    Property profile & analytics

    2361 Spgs NE Rd, Hickory, NC 28601-3067

    View on Map
    • Investment properties
    • 3,690 SF
    • 0.55 lot acres
    Off-Market
    Property ID
    US53-1024418
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 2361 Spgs NE Rd

    Year built
    1930
    Construction
    WOOD
    Lot size
    0.55 lot acres
    Zone code
    CC-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    3723-09-05-5751
    APU
    372309055751

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 10, 2020 — Al Crouse Office LLC — Deed · related $25k · Branch Banking & Tr Co
    Mar 9, 2016 — Al Crouse Office LLC Crouse,grady A & Sarah E Quit Claim Deed · related —
    Jul 14, 2006 $87,500 Thomas Allen Lloyd Crouse,grady A Grant Deed —
    — — Al Crouse Office LLC — Deed Of Trust · related $25k · Branch Banking & Tr Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.2902
    Latitude
    35.75
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,726
    $65,200
    $137,000
    $202,200
    -
    $65,200
    $137,000
    $202,200

    Comparable in this City

    • Value Estimation by Request
      4,115 SF

      345 4th NW St

      OFFICE/RESIDENTIAL (MIXED USE)
      345 4th NW St, Hickory, NC 28601-4985
      View Details
    • Value Estimation by Request
      6,490 SF

      1707 Highland NE Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1707 Highland NE Ave, Hickory, NC 28601-5305
      View Details
    • Value Estimation by Request
      4,409 SF

      307 2nd NE St

      OFFICE/RESIDENTIAL (MIXED USE)
      307 2nd NE St, Hickory, NC 28601-5042
      View Details
    • Value Estimation by Request
      3,337 SF

      18 3rd NE Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      18 3rd NE Ave, Hickory, NC 28601-5052
      View Details
    • Value Estimation by Request
      1,902 SF

      3401 Highland NE Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      3401 Highland NE Ave, Hickory, NC 28601-8160
      View Details
    • Value Estimation by Request
      1,926 SF

      205 29th NE Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      205 29th NE Ave, Hickory, NC 28601-1129
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,436 SF

      Downtown Hickory Investment Opportunity

      Mixed-use building with apartments and commercial space in downtown Hickory.
      118 3Rd Ave NW, Hickory, NC 28601
      View Details
    • Contact for pricing

      Residential Land in Viewmont, Hickory

      Wooded lot in Viewmont, close to amenities and major highways.
      453 17Th Avenue Cir, Hickory, NC 28601
      View Details
    • $1,550,000

      Retail Property with Drive Thru

      Retail property on 1.35 acres with drive-thru ATM.
      1625 N Center St, Hickory, NC 28601
      View Details
    • $175,000
      1.06 Acres

      Hickory, NC Buildable Land

      1.06-acre CC-2 zoned parcel in a key growth node.
      Springs Rd NE, Hickory, NC 28601
      View Details
    • Contact for pricing

      Historic Queen Anne Hospitality House

      1897 Queen Anne in Hickory's Claremont Historic District.
      121 5Th Ave NE, Hickory, NC 28601
      View Details
    • $425,000
      3.29 Acres

      Commercial Land in High-Traffic Area

      3.34 acres of commercial land with high visibility.
      Kool Park Rd NE, Hickory, NC 28601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,520 SF

      Regional Shopping Center Retail Space

      Retail spaces available in Hickory's Belle Hollow shopping center.
      2982-3022 N Center St, Hickory, NC 28601
      View Details
    • Contact for pricing

      Hickory Retail Space Available

      Retail spaces available, ranging from 2,300 to 39,601 SqFt.
      2515 Springs Rd NE, Hickory, NC 28601
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Land for ground lease in a Food Lion anchored center.
      2630 2Nd Ave NW, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available, 1,806 sqft, single tenant building.
      12 1St Ave NW, Hickory, NC 28601
      View Details
    • Contact for pricing

      Spacious Commercial Property Near University

      Versatile 10,000+ SF commercial space near Lenoir-Rhyne University.
      391 10Th Avenue Dr Ne, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Outparcel Opportunity Available

      Retail or restaurant site available in Hickory's premier shopping center.
      3020 N Center St, Hickory, NC 28601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2361 Spgs NE Rd
    Hickory, NC 28601-3067
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2361 Spgs NE Rd, Hickory, NC, 28601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!