Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    29 1st SE Ave Hickory, NC 28602-3003

    • Retail space
    • 10,594 SF
    • 0.82 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2024
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1182036
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 29 1st SE Ave

    Year built
    2002
    Lot size
    0.82 lot acres
    Property size
    10,594 SF
    Zone code
    C-1
    Property type
    Retail space
    APN
    3702-07-69-3275
    APU
    370207693275

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,072,000
      Market price range: $372k - $1.49M
      AI Estimate
      $1,047,000
      Market price range: $323k - $1.42M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $840,000
      Current use
      AUTO REPAIR, GARAGE
      $1,260,000
      Change: +50% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,100,000
      Change: +31% Conversion: Difficult
      OFFICE BUILDING
      $920,000
      Change: +9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $840,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3372
    Latitude
    35.7314
    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
    $7,623
    $178,600
    $714,600
    $893,200
    -
    $178,600
    $714,600
    $893,200

    Comparable in this City

    • Value Estimation by Request
      1,488 SF

      425 21st SE St

      RETAIL STORES (PERSONAL SERVICES) • 1,488 SF
      425 21st SE St, Hickory, NC 28602
      View Details
    • Value Estimation by Request
      640 SF

      2941 Old Shelby Rd

      RETAIL STORES (PERSONAL SERVICES) • 640 SF
      2941 Old Shelby Rd, Hickory, NC 28602-8573
      View Details
    • Value Estimation by Request
      5,000 SF

      1620 Us Hwy 70th SW, Unit 100

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1620 Us Hwy 70th SW, Hickory, NC 28602-4928
      View Details
    • Value Estimation by Request
      706 SF

      1093 7th St SE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 706 SF
      1093 7th St SE Blvd, Hickory, NC 28602-4342
      View Details
    • Value Estimation
      $1,350,000
      9,173 SF

      901 Lenoir Rhyne SE Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,173 SF
      901 Lenoir Rhyne SE Blvd, Hickory, NC 28602-4124
      View Details
    • Value Estimation by Request
      738 SF

      3162 Nc 127th Hwy

      RETAIL STORES (PERSONAL SERVICES) • 738 SF
      3162 Nc 127th Hwy, Hickory, NC 28602-8289
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3 SF

      Retail Property on Highway 70

      Former bank branch on a 2-acre site for sale.
      1862 Us Highway 70 SE | Hickory, Hickory, NC 28602
      View Details
    • Contact for pricing
      10,400 SF

      Former Retail Building on Highway

      10,400 SF retail building on 0.25 AC lot.
      1240 Us Highway 70 SW, Hickory, NC 28602
      View Details
    • $1,100,000
      5.00 Acres

      Hickory Retail Land - Hwy 70 Access

      Prime 5-acre retail lot, high visibility.
      1879 Startown Rd, Hickory, NC 28602
      View Details
    • $2,150,000
      5.23 Acres

      Hickory Mixed-Use Redevelopment

      5.23 Acres, Downtown Hickory, NC
      221 2Nd Ave, Hickory, NC 28602
      View Details
    • $50,000

      Commercial Parking Lot Near Highway

      0.55-acre parking lot with highway access, suitable for commercial uses.
      535 7Th Avenue Pl, Hickory, NC 28602
      View Details
    • $65,000

      Ready-to-Build Cleared Lot

      Cleared residential lot in established neighborhood near downtown Hickory.
      737 5Th Avenue Ct, Hickory, NC 28602
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Pad in Hickory, NC

      Retail space for lease in Hickory's primary retail corridor.
      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
    • $1,850 /Mo
      64,033 SF

      Hickory Flex Space For Rent

      Flex space with storefront, offices, warehouse, and drive-in door.
      1252 26Th Street Blvd, Hickory, NC 28602
      View Details
    • Contact for pricing

      Hickory, NC Commercial Land Opportunity

      Prime 1-Acre Commercial Lot in Hickory
      1862 Us Highway 70, Hickory, NC 28602
      View Details
    • Contact for pricing
      289,397 SF

      Valley Hills Mall Retail Spaces

      Hickory, NC Shopping Mall - Lease Opportunities
      1960 Us Highway 70, Hickory, NC 28602
      View Details
    • Contact for pricing
      56,150 SF

      Retail Space Available for Lease

      Spacious retail property available for lease in Hickory, North Carolina.
      1155 U.S Hwy 70 Southwest, Hickory, NC 28602
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    29 1st SE Ave
    Hickory, NC 28602-3003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.