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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Office buildings
237 Davie Ave, Statesville, NC 28677-5372
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1233282
Property summary
AI-generated overview
This exceptional Class A office building, located at 237 Davie Avenue in downtown Statesville, NC, presents a unique investment opportunity. Built in 2004, the property boasts a total of 4,400 square feet across two stories, currently entirely vacant and ready for immediate occupancy. The building features a traditional office layout, easily divisible into spaces of at least 2,200 square feet, accommodating multiple tenants or a single large occupant. With four individual suites available, the property offers flexibility for various business needs. Ample parking is provided with 12 on-site spaces, a significant advantage in a vibrant downtown setting. The building's prime location across from the Iredell County Courthouse ensures high visibility and accessibility. The property includes an elevator for convenient access to both floors. The APN is 4744-06-8772. This is an excellent chance to acquire a well-maintained, highly visible office building in a thriving North Carolina city. The entire 4,400 square feet is currently available, making it ideal for a single large tenant or multiple smaller businesses. Don't miss this opportunity to establish your presence in the heart of Statesville. The zip code is 28677.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,888 SF
Lot
0.24 ac (10,324 SF)
Zoning code
O-1
APN
4744-06-8772.000
UPID
US53-1233282
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
-
Airo Mechanical General Contractor Construction Company
-
MWK & Associates Business To Business Service
-
Daryl G Davidson Law Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$763k
Blend (final)
Blend
$585k
Owner & transaction history
Pdg LLC · 4 yrs held
Pdg LLC
since 2022
Last sale
$575,000
3 recorded transactions
Zoning & alternative use
O-1 · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$955,000
+95.3%
Retail stores
$735,000
+50.7%
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
Method
Estimation
Statistic approach
$455,000
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$490,000
Current use
MEDICAL BUILDING
$955,000
Change: +95% · Conversion: Easy
RETAIL STORES
$735,000
Change: +51% · Conversion: Moderate
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $575k (Apr 22 2022)
Last sale anchor
$575k
Apr 22 2022
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
$120 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,337
Tax year 2023
Assessed value
$567,030
Assessed 2023
Previous assessed
$532,010
+6.6% YoY
Effective rate
1.12%
On assessed value
Assessed land
$44,560
Assessed improvement
$522,470
Land market value
$44,560
Improvement market value
$522,470
Total market value
$567,030
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
4
Rooms
4
Bathrooms
2
Total area
4,888 SF
Lot
0.24 ac (10,324 SF)
Zoning code
O-1
APN
4744-06-8772.000
UPID
US53-1233282
Jurisdiction
IREDELL
Zoning & alternative use
O-1 · Statesville, NC
Zoning O-1 · permitted uses
O-1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$490,000
MEDICAL BUILDING
Est. value
$955,000
RETAIL STORES
Est. value
$735,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
4
Rooms
4
Bathrooms
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Pdg LLC
Entity
Mailing address
503 BROOKDALE DR, STATESVILLE, NC 28677-4107
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2022
$575,000
Pdg LLC
I & I Ivestments LLC
Warranty Deed
$450,000 · North Point Property Leasing LLC
Aug 5, 2004
—
A & I Investments LLC
Isenhour,l M & Betty L
Warranty Deed
$501,500 · Branch Banking & Trust Co
Oct 10, 2002
$60,000
L Michael Isenhour
Pressly,elisa T
Grant 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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