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    2537 Us Hwy 70th SE Hickory, NC 28602-8302
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    Property profile & analytics

    2537 Us Hwy 70th SE, Hickory, NC 28602-8302

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    • Residential income homes
    • 22,239 SF
    • 3.87 lot acres
    Off-Market
    Last Sale Jun 30, 2023
    $3,400,000
    Property ID
    US53-1534916
    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
    $3,410,000
    Show details
    Cap Rate Potential
    5%
    Residential income homes
    Location Intelligence

    Current Use by Public Records

    • Kayla Dills / Pediatrician / Physician
    • Complete Laser Clinic / Medical Clinic / Skin Care Clinic

    Property Details for 2537 Us Hwy 70th SE

    Year built
    2008
    Lot size
    3.87 lot acres
    Zone code
    C-3
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    3721-05-18-4420
    APU
    372105184420

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 30, 2023 $3,400,000 Pgp Hickory Shoppes I LLC Mrp Hickory LLC Special Warranty Deed —
    Oct 29, 2020 $2,700,000 Mrp Hickory LLC Dcr Real Estate Vi Sub I LLC Special Warranty Deed —
    Nov 25, 2014 $500,000 Dcr Real Estate Vi Sub I LLC M Elizabeth Williams Deed $1.3M · Goldman Sachs Bank USA
    Dec 6, 2007 $1,751,000 B & B Associates LLC Wal-mart Stores East Grant Deed $3.9M · New Peoples Bank INC
    Dec 4, 2007 $1,751,000 B B Associates LLC Wal-mart,stores East LP Grant Deed $3.9M · New Peoples Bank INC
    Mar 30, 2006 $954,000 Lcg Hickory LLC Wal-mart Stores East Grant Deed $2.9M · Magnet Bank Fsb
    — — B & B Associates LLC — Deed Of Trust · related $236k · Highlands Union Bank
    — — B & B Associates LLC — Deed Of Trust · related $100k · New Peoples Bank INC
    — — Lcg Hickory LLC — Deed Of Trust · related $2.6M · National Bank South Carolina

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,985,000
      ML approach
      $3,520,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,350,000
      6.5%
      $3,090,000
      7%
      $2,870,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,630,000
      Market price range: $1.11M - $3.99M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,310,000
      Current use
      RESTAURANT
      $5,100,000
      Change: +121% Conversion: Difficult
      MEDICAL BUILDING
      $4,225,000
      Change: +83% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,640,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.2856
    Latitude
    35.7021
    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
    $26,115
    $1,060,700
    $1,999,000
    $3,059,700
    -
    $1,060,700
    $1,999,000
    $3,059,700

    Comparable in this City

    • Value Estimation
      $1,095,000
      10,375 SF

      1756 Catawba Vly SE Blvd

      APARTMENT HOUSE (UNDER 5 UNITS)
      1756 Catawba Vly SE Blvd, Hickory, NC 28602-4140
      View Details
    • Value Estimation
      $1,520,000
      14,654 SF

      1050 Zion Church Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      1050 Zion Church Rd, Hickory, NC 28602-9100
      View Details
    • Value Estimation
      $3,495,000
      15,600 SF

      2535 Us Hwy 70th Se Ste, Unit 101

      APARTMENT HOUSE (UNDER 5 UNITS)
      2535 Us Hwy 70th Se Ste, Hickory, NC 28602-6005
      View Details
    • Value Estimation by Request
      10,000 SF

      655 Lenoir Rhyne SE Blvd

      APARTMENT HOUSE (UNDER 5 UNITS)
      655 Lenoir Rhyne SE Blvd, Hickory, NC 28602-4133
      View Details
    • Value Estimation
      $545,000
      8,400 SF

      675 Lenoir Rhyne SE Blvd

      APARTMENT HOUSE (UNDER 5 UNITS)
      675 Lenoir Rhyne SE Blvd, Hickory, NC 28602-4133
      View Details
    • Value Estimation
      $1,050,000
      14,116 SF

      2980 Nc 127th Hwy

      APARTMENT HOUSE (UNDER 5 UNITS)
      2980 Nc 127th Hwy, Hickory, NC 28602-5401
      View Details

    Similar Nearby for Sale

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      0.40 Acres

      Five Townhome Rental Portfolio

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      Hickory NC Multifamily Investment

      Multifamily investment opportunity with 10 units on approximately 2.4 acres.
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      Hickory NC Multifamily Investment Opportunity

      Multifamily investment opportunity featuring 12 units on approximately 2.5 acres.
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    • $389,500
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      Hickory Multi-Family Home

      Multi-family home on a generous 0.67-acre lot.
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    • $385,000
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      Well-Maintained Duplex in Hickory, NC

      Desirable duplex with long-term tenants, full brick exterior, and upgrades.
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      View Details
    • $2,300,000
      11.28 Acres

      Hickory Land Redevelopment Opportunity

      11.28 acres ideal for commercial or multi-family redevelopment.
      1100 Zion Church Rd, Hickory, NC 28602
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing

      Retail Space in Hickory, NC

      Retail space available at Valley Hills Mall on Highway 70.
      1940 Us Highway 70 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.
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      View Details
    • Contact for pricing

      Hickory NC Retail Space

      Retail space available for rent in Hickory, North Carolina.
      1940 Us Highway 70 SE, Hickory, NC 28602
      View Details
    • Contact for pricing

      Downtown Retail Space For Rent

      Charming 800 SF retail space in Downtown Hickory.
      121 S Nc 127 Hwy, Hickory, NC 28602
      View Details
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    Hickory, NC 28602-8302
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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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