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Property profile & analytics
OFF-MARKET
Commercial real estate
242 Main St, King, NC 27021-9012
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-3669835
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1940
Construction
WOOD
Total area
1,808 SF
Lot
0.32 ac (13,939 SF)
Zoning code
B-2
APN
599216930164
UPID
US53-3669835
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
John Rex Mathis III · 1 yrs held
John Rex Mathis III
since 2025
Last sale
$85,000
3 recorded transactions
Zoning & alternative use
B-2 · King, 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 King submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs King 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
$748
Tax year 2024
Assessed value
$63,400
Assessed 2024
Previous assessed
$63,400
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$61,700
Assessed improvement
$1,700
Land market value
$61,700
Improvement market value
$1,700
Total market value
$63,400
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
1940
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
1
Bathrooms
5
Total area
1,808 SF
Lot
0.32 ac (13,939 SF)
Zoning code
B-2
APN
599216930164
UPID
US53-3669835
Jurisdiction
STOKES
Zoning & alternative use
B-2 · King, NC
Zoning B-2 · permitted uses
B-2 · King, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
King. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
5
Lot
0.32 ac
Current owner
From public records · entity-resolved
John Rex Mathis III
Individual
Free & Clear · 1 yrs held
Mailing address
2051 S LAKESHORE DR, LAKE JUNALUSKA, NC 28745-8702
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
May 23, 2025
$85,000
John Rex Mathis III
Susan Karr
Warranty Deed
—
Dec 13, 2019
$8,000
Susan Karr
Barbara F Gentry
Warranty Deed
—
Dec 18, 2014
—
Barbara F Gentry
David C Gentry
Intrafamily Transfer
related
—
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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