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Property profile & analytics
OFF-MARKET
Estimated value
$6,125,000
Community centers
2803 Hwy 74 Monroe, NC 28110-8434
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-5395129
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2005
Total area
18,560 SF
Lot
2.94 ac (127,892 SF)
Zoning code
CD MONROE
APN
09-298-091F
UPID
US53-5395129
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
-
McAlister's Deli Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.06M
CAP Approach
CAP
$4.21M
Comparable Approach
Comparable
$4.10M
Blend (final)
Blend
$6.13M
Owner & transaction history
Reel Retail Fund I LLC · 5 yrs held
Reel Retail Fund I LLC
since 2021
Last sale
$6.2M
3 recorded transactions
Zoning & alternative use
CD MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.8M
+140.9%
Retail stores
$5.1M
+82.6%
Commercial (general)
$4.3M
+53.1%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$6,020,000
ML approach
$6,055,000
CAP Approach
CAP Return
Estimation
6%
$4,555,000
6.5%
$4,205,000
7%
$3,905,000
Alternative Use
Use
Estimation
RESTAURANT
$6,780,000
Change: +141% · Conversion: Difficult
RETAIL STORES
$5,140,000
Change: +83% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,310,000
Change: +53% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,905,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$6.13M
Range $5.51M – $6.74M · ±10% · vs last sale $6.21M (May 13 2021)
Last sale anchor
$6.21M
May 13 2021
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
$330 / 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
$56,017
Tax year 2023
Assessed value
$5,136,800
Assessed 2023
Previous assessed
$5,136,800
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$3,229,600
Assessed improvement
$1,907,200
Land market value
$3,229,600
Improvement market value
$1,907,200
Total market value
$5,136,800
Applied tax rate
200.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2005
Heating
YES
Stories
1
Total area
18,560 SF
Lot
2.94 ac (127,892 SF)
Zoning code
CD MONROE
APN
09-298-091F
UPID
US53-5395129
Jurisdiction
UNION
Zoning & alternative use
CD MONROE · Monroe, NC
Zoning CD MONROE · permitted uses
CD MONROE · Monroe, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$6.8M
RETAIL STORES
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$3.9M
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
2005
Heating
YES
Stories
1
Lot
2.94 ac
Current owner
From public records · entity-resolved
Reel Retail Fund I LLC
Entity
Free & Clear · 5 yrs held
Mailing address
16531 BOLSA CHICA ST STE #304, HUNTINGTON BEACH, CA 92649-3595
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2021
$6,212,000
Reel Retail Fund I LLC
Bva Poplin Place LLC
Special Warranty Deed
—
Aug 29, 2008
$40,500,000
Inland American Monroe Poplin
Poplin Partners
Grant Deed
—
Sep 27, 2004
$409,000
Partners Poplin
Poplin,ruth P
Warranty Deed
related
—
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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