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Property profile & analytics
OFF-MARKET
Estimated value
$1,370,000
Commercial real estate
248 Market St, Locust, NC 28097-9437
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-4055714
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2006
Total area
21,000 SF
Lot
4.16 ac (181,210 SF)
Zoning code
MULTIPLE
APN
557503232035
UPID
US53-4055714
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
-
Vanguard Realty Advisors Building Firm Real Estate Appraiser
-
Whitley Realty Inc Real Estate Agency
-
Bruce A Daniels Land Surveying Land Surveyor
-
Mc Quire Allan Architect
-
Material Girl Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.37M
Owner & transaction history
Locust Town Center Association INC · 1 yrs held
Locust Town Center Association INC
since 2025
7 recorded transactions
Zoning & alternative use
MULTIPLE · Locust, 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 Locust submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Locust 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
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±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
$12,712
Tax year 2024
Assessed value
$1,166,226
Assessed 2024
Previous assessed
$1,166,226
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,081,600
Assessed improvement
$84,626
Land market value
$1,081,600
Improvement market value
$84,626
Total market value
$1,166,226
Applied tax rate
550.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2006
Heating
NONE
Bathrooms
16
Total area
21,000 SF
Lot
4.16 ac (181,210 SF)
Zoning code
MULTIPLE
APN
557503232035
UPID
US53-4055714
Jurisdiction
STANLY
Zoning & alternative use
MULTIPLE · Locust, NC
Zoning MULTIPLE · permitted uses
MULTIPLE · Locust, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Locust. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2006
Heating
NONE
Bathrooms
16
Lot
4.16 ac
Current owner
From public records · entity-resolved
Locust Town Center Association INC
Entity
Mailing address
132 PO BOX 306TH RD, OAKBORO, NC 28129-0306
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2025
—
Locust Town Center Association INC
T G Whitley LLC
Special Warranty Deed
—
Dec 15, 2023
$1,300,000
Ltc Development LLC
Oakboro Main Street Development LLC
Warranty Deed
$1,303,725 · Larry Huneycutt
Oct 28, 2022
$65,000
Harmol Holdings LLC
Oakboro Main Street Development LLC
Warranty Deed
—
Jun 29, 2016
$700,000
Town Centre Apartments LLC
Oakboro Main Street Dev LLC
Warranty Deed
—
Nov 23, 2011
$650,000
Wynnefield Properties INC
Oakboro Main Street Dev LLC
Warranty Deed
$422,500 · Carolina Bank
Aug 17, 2011
—
Tg Whitley LLC
Oakboro Main Street Dev LLC
Warranty Deed
—
Apr 7, 2011
$194,000
Tg Whitley LLC
Oakboro Main Street Dev LLC
Warranty Deed
—
Jun 25, 2010
—
Oakboro Main Street Dev LLC
City Of Locust
Warranty Deed
related
—
Aug 21, 2008
—
City Of Locust
Oakboro Main Street Dev LLC
Warranty Deed
—
Aug 12, 2008
$939,500
Neo Locust INC
Oakboro Main Street Development LLC
Warranty Deed
$932,000 · Home Savings Bank Of Albemarle Ssb
Mar 29, 2006
$600,000
Locust Towne Center Properties LLC
Oakboro Main Street Development LLC
Warranty Deed
—
Sep 9, 2005
$197,500
Samuel G Griffin
Oakboro Main Street Development LLC
Warranty Deed
—
Sep 1, 2005
$500,000
Home Savings Bank Ablemarle
Oakboro Main Street Dev LLC
Grant Deed
—
Aug 16, 2004
$2,000,000
Oakboro Main Street Dev LLC
B & S Investment
Grant Deed
$3,500,000 · Andreas H Bechtler
—
—
Western Stanly Investment INC
—
Deed Of Trust
related
$50,000 · Fifth Third Bank
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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