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Property profile & analytics
FOR SALE
Car washes
2931 N Center St, Hickory, NC 28601
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US53-5683951
For Sale
1 / 36
$895,000
2931 N Center St, Hickory, NC 28601
View Listing →
Property summary
AI-generated overview
This commercial property is located on Hwy 127 in Viewmont and offers potential for various commercial ventures under CC-1 zoning. The existing structure, previously a car wash, spans over 9,000 square feet, including 2,000 square feet of office space. It features eight 14-foot bay doors and 16-foot ceilings. Equipment included with the property consists of life cranes, a wash tunnel with drains, and a detail shop with a storage area. The office space contains two bathrooms. The property is situated on a 1.42-acre lot in Hickory, NC.
Property profile
Verified
Property type
Car washes
Use group
CAR WASH - AUTOMATED
Year built
1988
Total area
9,268 SF
Lot
1.42 ac (61,855 SF)
Zoning code
CC-1
APN
3704-16-83-5928
UPID
US53-5683951
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$818k
Blend (final)
Blend
$840k
Owner & transaction history
Elfco LLC · 18 yrs held
Elfco LLC
since 2007
3 recorded transactions
Zoning & alternative use
CC-1 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,100,000
Current use
RETAIL STORES
$1,090,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$1,070,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$985,000
Change: -11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$915,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$91 / 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
$5,623
Tax year 2023
Assessed value
$658,800
Assessed 2023
Previous assessed
$658,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$284,100
Assessed improvement
$374,700
Land market value
$284,100
Improvement market value
$374,700
Total market value
$658,800
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
Car washes
Use group
CAR WASH - AUTOMATED
Status
For Sale
Year built
1988
Heating
FORCED AIR
Cooling
NONE
Units
1
Total area
9,268 SF
Lot
1.42 ac (61,855 SF)
Zoning code
CC-1
APN
3704-16-83-5928
UPID
US53-5683951
Jurisdiction
CATAWBA
Zoning & alternative use
CC-1 · Hickory, NC
Zoning CC-1 · permitted uses
CC-1 · 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
AUTO REPAIR, GARAGE Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$915,000
AUTO REPAIR, GARAGE Current
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1988
Heating
FORCED AIR
Cooling
Yes
Units
1
Lot
1.42 ac
Current owner
From public records · entity-resolved
Elfco LLC
Entity
Mailing address
2931 N CTR ST, HICKORY, NC 28601-1158
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
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
Sep 21, 2007
$1,250,000
Elfco LLC
Auto Spa Of Hickory INC
Warranty Deed
$1,250,000 · Rbc Centura Bank
Sep 17, 2007
$1,250,000
Elfco LLC
Auto Spa Of Hickory INC
Grant Deed
$1,250,000 · Rbc Centura Bank
—
—
Elfco LLC
—
Deed Of Trust
related
$1,033,000 · Bank Of Atlanta
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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