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Property profile & analytics
OFF-MARKET
Estimated value
$3,410,000
Residential income homes
2537 Us Hwy 70th SE Hickory, NC 28602-8302
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-1534916
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2008
Total area
22,239 SF
Lot
3.87 ac (168,577 SF)
Zoning code
C-3
APN
3721-05-18-4420
UPID
US53-1534916
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
-
Kayla Dills Pediatrician Physician
-
Complete Laser Clinic Medical Clinic Skin Care Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.52M
CAP Approach
CAP
$3.09M
Comparable Approach
Comparable
$3.63M
Blend (final)
Blend
$3.41M
Owner & transaction history
Pgp Hickory Shoppes I LLC · 3 yrs held
Pgp Hickory Shoppes I LLC
since 2023
Last sale
$3.4M
7 recorded transactions
Zoning & alternative use
C-3 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.1M
+120.9%
Medical building
$4.2M
+83.0%
Auto repair, garage
$2.6M
+14.4%
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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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
$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
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
Blend value · Realmo final
$3.41M
Range $3.07M – $3.75M · ±10% · vs last sale $3.40M (Jun 30 2023)
Last sale anchor
$3.40M
Jun 30 2023
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
$153 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$26,115
Tax year 2023
Assessed value
$3,059,700
Assessed 2023
Previous assessed
$3,059,700
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,060,700
Assessed improvement
$1,999,000
Land market value
$1,060,700
Improvement market value
$1,999,000
Total market value
$3,059,700
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
2008
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
22,239 SF
Lot
3.87 ac (168,577 SF)
Zoning code
C-3
APN
3721-05-18-4420
UPID
US53-1534916
Jurisdiction
CATAWBA
Zoning & alternative use
C-3 · Hickory, NC
Zoning C-3 · permitted uses
C-3 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.3M
RESTAURANT
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2008
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
3.87 ac
Current owner
From public records · entity-resolved
Pgp Hickory Shoppes I LLC
Entity
Free & Clear · 3 yrs held
Mailing address
141 PROVIDENCE RD STE #200, CHAPEL HILL, NC 27514-6200
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
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
$1,344,747 · Goldman Sachs Bank USA
Dec 6, 2007
$1,751,000
B & B Associates LLC
Wal-mart Stores East
Grant Deed
$3,900,000 · New Peoples Bank INC
Dec 4, 2007
$1,751,000
B B Associates LLC
Wal-mart,stores East LP
Grant Deed
$3,900,000 · New Peoples Bank INC
Mar 30, 2006
$954,000
Lcg Hickory LLC
Wal-mart Stores East
Grant Deed
$2,860,000 · Magnet Bank Fsb
—
—
B & B Associates LLC
—
Deed Of Trust
related
$236,354 · Highlands Union Bank
—
—
B & B Associates LLC
—
Deed Of Trust
related
$100,000 · New Peoples Bank INC
—
—
Lcg Hickory LLC
—
Deed Of Trust
related
$2,600,000 · National Bank South Carolina
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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