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Property profile & analytics
OFF-MARKET
Estimated value
$3,295,000
Garden apartment buildings
2830 16th NE St 147, Hickory, NC 28601-8618
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-0607775
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2001
Construction
FRAME
Total area
27,426 SF
Lot
7.99 ac (348,044 SF)
Zoning code
PD
APN
3714-20-71-9896
UPID
US53-0607775
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
-
Argyle Place Apartments Apartment Building Apartment Complex
-
Coventry Health Care Inc Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.54M
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$3.30M
Owner & transaction history
ARGYLE PLACE ASSOCIATES LLC
ARGYLE PLACE ASSOCIATES LLC
Zoning & alternative use
PD · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.2M
+78.7%
Auto repair, garage
$3.3M
+11.7%
Retail stores
$3.2M
+10.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,835,000
6.5%
$3,540,000
7%
$3,290,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,915,000
Current use
MEDICAL BUILDING
$5,210,000
Change: +79% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,255,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$3,230,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$3,170,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,705,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$3.30M
Range $2.97M – $3.62M · ±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
$120 / 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
$111,655
Tax year 2023
Assessed value
$13,082,000
Assessed 2023
Previous assessed
$13,082,000
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$87,000
Assessed improvement
$12,995,000
Land market value
$87,000
Improvement market value
$12,995,000
Total market value
$13,082,000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2001
Construction
FRAME
Heating
HOT WATER
Cooling
CENTRAL
Stories
3
Units
24
Total area
27,426 SF
Lot
7.99 ac (348,044 SF)
Zoning code
PD
APN
3714-20-71-9896
UPID
US53-0607775
Jurisdiction
CATAWBA
Zoning & alternative use
PD · Hickory, NC
Zoning PD · permitted uses
PD · 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
$2.9M
MEDICAL BUILDING
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$3.3M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (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
2001
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
24
Lot
7.99 ac
Current owner
From public records · entity-resolved
ARGYLE PLACE ASSOCIATES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1362 4TH CRK LNDG DR, STATESVILLE, NC 28625-8270
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
No recorded transactions
No recorded transactions found for this property.
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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