Entity Owned 
For Sale
$995,000
241 W North St, Albemarle, NC 28001
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Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1963
Total area
30,287 SF
Lot
0.98 ac (42,689 SF)
Zoning code
CBD
APN
654801159223
UPID
US53-0877034
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$605k
Owner & transaction history
since 2025
4 recorded transactions
Zoning & alternative use
CBD · Albemarle, NC
Zoning description
ral provisions 92.038 Prohibited signs 92.039 Permit required 92.040 Signs not requiring permits 92.041 Signs permitted in residential districts (R10, R8, R6, R0) 92.042 Signs permitted in the Central Business District (…
General category
CIVIC_INSTITUTIONAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$605k
Value range
$545k – $666k
±10% around blend
Estimated value / SF
$20 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$545k
blend $605k
$666k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
30,287 SF
Lot area
0.98 ac
Year built
1963
Stories
1
APN
654801159223
Zoning
CBD
Assessed value
$420,861
Annual tax
$5,555
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.73M
Range $1.73M – $6.02M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$605k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 62 sales
$123
-84%
Submarket 62 sales
$123
-84%
County 105 sales
$124
-84%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $20/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$421k
Move the market yield to see immediate price impact.
Value / SF
$14
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$27k
$530k
$379k
$295k
$29k
$589k
$421k
$327k
$32k
$648k
$463k
$360k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,555
Tax year 2024
Assessed value
$420,861
Assessed 2024
Previous assessed
$420,861
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$42,336
Assessed improvement
$378,525
Land market value
$42,336
Improvement market value
$378,525
Total market value
$420,861
Applied tax rate
503.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Sale
Year built
1963
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
7
Total area
30,287 SF
Lot
0.98 ac (42,689 SF)
Zoning code
CBD
APN
654801159223
UPID
US53-0877034
Jurisdiction
STANLY
Zoning & alternative use
CBD · Albemarle, NCZoning CBD · permitted uses
CBD · Albemarle, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
ral provisions 92.038 Prohibited signs 92.039 Permit required 92.040 Signs not requiring permits 92.041 Signs permitted in residential districts (R10, R8, R6, R0) 92.042 Signs permitted in the Central Business District (…
General category
CIVIC_INSTITUTIONAL
Building & site characteristics
From public records
Year built
1963
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
7
Lot
0.98 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CBD
CIVIC_INSTITUTIONAL
Jurisdiction
Albemarle, NC
Recorded code
CBD
Official district
CBD
Official district profile
What the municipal code says about CBD
Zoning description
ral provisions 92.038 Prohibited signs 92.039 Permit required 92.040 Signs not requiring permits 92.041 Signs permitted in residential districts (R10, R8, R6, R0) 92.042 Signs permitted in the Central Business District (…
General category
CIVIC_INSTITUTIONAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD in Albemarle, NC.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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