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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Medical Office Space
300 Salisbury Ave, Spencer, NC 28159-2514
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-5381656
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Total area
4,058 SF
Lot
0.67 ac (29,098 SF)
Zoning code
NB:NEIGHBORHOOD BUS
APN
035 178
UPID
US53-5381656
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
-
Lloyd Nickerson, MD Pediatrician Physician
-
Northern Rowan Medicine Medical Clinic
-
Northern Rowan Family Medicine (Food Lion) Medical Laboratory
-
Family Medical Care of Rowan Medical Clinic
-
Redbox Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$478k
Blend (final)
Blend
$610k
Owner & transaction history
Cabarrus Rowan Cmnty Health Centers · 2 yrs held
Cabarrus Rowan Cmnty Health Centers
since 2023
Last sale
$650,000
6 recorded transactions
Zoning & alternative use
NB:NEIGHBORHOOD BUS · Spencer, 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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spencer 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
$600,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$570,000
Current use
COMMERCIAL (GENERAL)
$520,000
Change: -9% · Conversion: Easy
OFFICE BUILDING
$495,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$610k
Range $549k – $671k · ±10% · vs last sale $650k (Nov 30 2023)
Last sale anchor
$650k
Nov 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
$150 / 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
$6,496
Tax year 2023
Assessed value
$574,898
Assessed 2023
Previous assessed
$574,898
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$76,845
Assessed improvement
$498,053
Land market value
$76,845
Improvement market value
$498,053
Total market value
$574,898
Applied tax rate
103.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2002
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
4,058 SF
Lot
0.67 ac (29,098 SF)
Zoning code
NB:NEIGHBORHOOD BUS
APN
035 178
UPID
US53-5381656
Jurisdiction
ROWAN
Zoning & alternative use
NB:NEIGHBORHOOD BUS · Spencer, NC
Zoning NB:NEIGHBORHOOD BUS · permitted uses
NB:NEIGHBORHOOD BUS · Spencer, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spencer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$570,000
COMMERCIAL (GENERAL)
Est. value
$520,000
OFFICE BUILDING
Est. value
$495,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2002
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Cabarrus Rowan Cmnty Health Centers
Individual
Mailing address
PO BOX 368, CONCORD, NC 28026-0368
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2023
$650,000
Cabarrus Rowan Cmnty Health Centers
Starburst Properties LLC
Warranty Deed
$552,500 · First Citizens Bank & Trust Co
Nov 25, 2014
$387,000
Starburst Properties LLC
Starburst-nebuli LLC
Grant Deed
—
Nov 23, 2010
$327,000
Starburst-nebuli LLC
Starburst Properties LLC
Warranty Deed
$297,440 · Starburst Properties LLC
Feb 26, 2010
$327,000
Starburst Nebuli LLC
Starburst Properties LLC
Grant Deed
related
—
—
—
Starburst Properties LLC
—
Loan Modification
related
$257,900 · F & M Bank
—
—
Starburst Nebuli LLC
—
Deed Of Trust
related
$297,440 · Starburst Properties LLC
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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