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Property profile & analytics
OFF-MARKET
Commercial real estate
24 2nd Ave Lexington, NC 27292-3350
Individually Owned
3-yr Hold
Free & Clear
Property ID
US53-1253360
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,976 SF
Lot
0.05 ac (2,080 SF)
Zoning code
U
APN
11-085-0-00C-0006-C
UPID
US53-1253360
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
-
Re-Born Treasures Home Decor Store (Bike/Boat/Book/etc) Store
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
Cassandra Ridenhour · 3 yrs held
Cassandra Ridenhour
since 2022
3 recorded transactions
Zoning & alternative use
U · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental activity. Storefront shops with upper story residences, restaurants, civic uses, and public uses, primarily along North and South Main Streets…
Zone name
Uptown Zoning District
General category
CIVIC_INSTITUTIONAL
Zone area
88.28 ac
Source
Realmo
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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 2024Property tax & assessments
Tax year 2024
Tax billed
$794
Tax year 2024
Assessed value
$52,900
Assessed 2024
Previous assessed
$52,900
+0.0% YoY
Effective rate
1.50%
On assessed value
Land market value
$15,600
Improvement market value
$37,300
Total market value
$52,900
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
1,976 SF
Lot
0.05 ac (2,080 SF)
Zoning code
U
APN
11-085-0-00C-0006-C
UPID
US53-1253360
Jurisdiction
DAVIDSON
Zoning & alternative use
U · Lexington, NCZoning U · permitted uses
U · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the Uptown District is to support the vitality and growth of Historic Uptown Lexington as the traditional focal point of community life, serving as the hub of commerce, civic, cultural, and governmental activity. Storefront shops with upper story residences, restaurants, civic uses, and public uses, primarily along North and South Main Streets and East and West Center Streets, help define the general character of the area, with new infill development carefully designed to enhance the character, charm, and economic strength of this vital historic community wide activity center.
Zone name
Uptown Zoning District
General category
CIVIC_INSTITUTIONAL
Zone area
88.28 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Cassandra Ridenhour
Individual
Free & Clear · 3 yrs held
Mailing address
PO BOX 2173, LEXINGTON, NC 27293-2173
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
Aug 4, 2022
$80,000
Cassandra Ridenhour
Melvin Russell Padon
Warranty Deed
—
Dec 29, 2016
$95,000
Service One Maintenance LLC
Little Mary B Trust
Warranty Deed
$71,250 · Bank Of The Ozarks
Jun 30, 2014
$45,000
Melvin R Padon
Little Mary B Trust
Warranty 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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