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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Banks
245 2nd Ave Gastonia, NC 28052-4369
Entity Owned
~
Est. High Equity
Property ID
US53-1078771
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1966
Total area
16,034 SF
Lot
0.36 ac (15,682 SF)
Zoning code
OFF01
APN
108612
UPID
US53-1078771
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
-
Watson Insurance Agency Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$936k
Blend (final)
Blend
$1.05M
Owner & transaction history
Watson Insurance Agency INC
Watson Insurance Agency INC
1 recorded transaction
Zoning & alternative use
OFF01 · Gastonia, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+49.2%
Commercial (general)
$1.3M
+39.0%
Auto repair, garage
$1.3M
+37.0%
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 Gastonia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gastonia 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$950,000
Current use
RESTAURANT
$1,420,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,320,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,300,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$775,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10%
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
$65 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$13,596
Tax year 2024
Assessed value
$1,071,370
Assessed 2024
Previous assessed
$1,071,370
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$69,000
Assessed improvement
$1,002,370
Applied tax rate
185.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
YES
Stories
2
Rooms
1
Total area
16,034 SF
Lot
0.36 ac (15,682 SF)
Zoning code
OFF01
APN
108612
UPID
US53-1078771
Jurisdiction
GASTON
Zoning & alternative use
OFF01 · Gastonia, NC
Zoning OFF01 · permitted uses
OFF01 · Gastonia, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gastonia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$950,000
RESTAURANT
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$775,000
FINANCIAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1966
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Watson Insurance Agency INC
Entity
Mailing address
PO BOX 879, GASTONIA, NC 28053-0879
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Watson Insurance Agency INC
—
Deed Of Trust
related
$700,000 · Park Sterling Bk
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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