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    2440 Century SE Pl Hickory, NC 28602-4031
    Property profile & analytics

    2440 Century SE Pl Hickory, NC 28602-4031

    View on Map
    • Medical Office Space
    • 25,824 SF
    • 4.64 lot acres
    Off-Market
    Last Sale Jun 2, 2020
    $7,505,000
    Property ID
    US53-1288311
    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
    $7,450,000
    Show details
    Cap Rate Potential
    3.2%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Hickory VA Clinic, Charles George / Physician
    • Hickory VA Clinc / Medical Clinic
    • Kelly Gannon / Pediatrician / Physician
    • John Fearing / Physician
    • Dibble II Joseph F MD / Pediatrician / Physician

    Property Details for 2440 Century SE Pl

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.64 lot acres
    Property size
    25,824 SF
    Zone code
    IND
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    3722-09-16-5985
    APU
    372209165985

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,635,000
      ML approach
      $8,035,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,569,000
      Market price range: $2.53M - $6.84M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,905,000
      Current use
      RESTAURANT
      $5,920,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.2859
    Latitude
    35.7258
    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
    $46,601
    $508,700
    $4,951,300
    $5,460,000
    -
    $508,700
    $4,951,300
    $5,460,000

    Comparable in this City

    • Value Estimation
      $1,575,000
      13,795 SF

      2874 Nc 127th Hwy

      MEDICAL BUILDING • 13,795 SF
      2874 Nc 127th Hwy, Hickory, NC 28602-9131
      View Details
    • Value Estimation
      $630,000
      5,938 SF

      2712 Nc 127th Hwy

      MEDICAL BUILDING • 5,938 SF
      2712 Nc 127th Hwy, Hickory, NC 28602-9130
      View Details
    • Value Estimation
      $1,465,000
      10,976 SF

      1900 3rd Ave SE Ln

      MEDICAL BUILDING • 10,976 SF
      1900 3rd Ave SE Ln, Hickory, NC 28602-2959
      View Details
    • Value Estimation
      $940,000
      10,628 SF

      1940 Briarwood Dr

      MEDICAL BUILDING • 10,628 SF
      1940 Briarwood Dr, Hickory, NC 28602-5497
      View Details
    • Value Estimation
      $840,000
      8,760 SF

      2850 Tate SE Blvd

      MEDICAL BUILDING • 8,760 SF
      2850 Tate SE Blvd, Hickory, NC 28602-1450
      View Details
    • Value Estimation
      $2,705,000
      21,480 SF

      2406 Century SE Pl

      MEDICAL BUILDING • 21,480 SF
      2406 Century SE Pl, Hickory, NC 28602-4031
      View Details

    Similar Nearby for Sale

    • $1,500,000
      Pending

      Hickory Land Package For Sale

      Over 12 acres of commercial land in Hickory, North Carolina.
      400 Fairgrove Church Rd SE, Hickory, NC 28602
      View Details
    • $5,900,000
      Pending

      Commercial Land with Redevelopment Potential

      8.47 acres ideal for commercial or multi-family redevelopment.
      2650 Hwy 127 S, Hickory, NC 28602
      View Details
    • Contact for pricing
      7,392 SF

      Hickory Flex Space Near Downtown

      Well-maintained flex space with office and warehouse components.
      731 Main Ave SW, Hickory, NC 28602
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    • $375,000

      Industrial Building with Office Space

      6,000 SF industrial building with 1,625 SF office space.
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    • $495,000
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      Prime Hickory Office Building

      Downtown Hickory Office Space - 1806 sq ft
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      1,200 SF

      Hickory Commercial Property For Sale

      Versatile commercial property with high visibility and strong connectivity.
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    Similar Nearby for Lease

    • Contact for pricing

      2660 Tate Blvd, Hickory, NC 28602

      Medical Office Space
      2660 Tate Blvd, Hickory, NC 28602
      View Details
    • Contact for pricing

      Premier Headquarters Space For Rent

      High-quality office space in established business park, ample parking.
      2415 Century Pl SE, Hickory, NC 28602
      View Details
    • Contact for pricing
      60,152 SF

      Premier Headquarters Space in Hickory

      High-quality office space in a well-established business park.
      2415 Century Pl SE, Hickory, NC 28602
      View Details
    • $6,400 /Mo
      168,142 SF

      Adaptable Office Space Near I-40

      6,400 sq ft commercial space suitable for various business needs.
      1144 Lenoir Rhyne Blvd SE, Hickory, NC 28602
      View Details
    • Contact for pricing
      9,627 SF

      Hickory Office Space For Rent

      Office space available with shared amenities and ample parking.
      1507 7Th Street Blvd Southeast, Hickory, NC 28602
      View Details
    • Contact for pricing

      Hickory, NC Commercial Land Opportunity

      Prime 1-Acre Commercial Lot in Hickory
      1862 Us Highway 70, Hickory, NC 28602
      View Details
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    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
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