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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Super regional malls
3114 Main St Hope Mills, NC 28348-1898
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US53-3769850
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1996
Total area
6,000 SF
Lot
1.29 ac (56,192 SF)
Zoning code
CP
APN
0414-17-7624
UPID
US53-3769850
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
-
B's Tobacco & Food Mart Grocery & Convenience Store
-
H&R Block Tax Preparation
-
LibertyX Bitcoin ATM Atm
-
Zorbas Gyro Restaurant
-
The Main Source Barber Shop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$925k
Comparable Approach
Comparable
$590k
Blend (final)
Blend
$755k
Owner & transaction history
Thomas J Etal Frangakis · 20 yrs held
Thomas J Etal Frangakis
since 2005
1 recorded transaction
Zoning & alternative use
CP · Hope Mills, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+50.2%
Medical building
$1.0M
+28.6%
Office building
$940,000
+18.7%
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 Hope Mills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hope Mills 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%
$1,000,000
6.5%
$925,000
7%
$860,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$790,000
Current use
RESTAURANT
$1,190,000
Change: +50% · Conversion: Difficult
MEDICAL BUILDING
$1,020,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$940,000
Change: +19% · Conversion: Moderate
AUTO REPAIR, GARAGE
$910,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$715,000
Change: -10% · Conversion: Easy
COMMERCIAL (GENERAL)
$680,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$126 / 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
$11,497
Tax year 2023
Assessed value
$1,161,701
Assessed 2023
Previous assessed
$1,161,701
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$574,452
Assessed improvement
$587,249
Land market value
$574,452
Improvement market value
$587,249
Total market value
$1,161,701
Applied tax rate
2,000.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1996
Heating
NONE
Buildings
2
Stories
1
Bathrooms
7
Total area
6,000 SF
Lot
1.29 ac (56,192 SF)
Zoning code
CP
APN
0414-17-7624
UPID
US53-3769850
Jurisdiction
CUMBERLAND
Zoning & alternative use
CP · Hope Mills, NC
Zoning CP · permitted uses
CP · Hope Mills, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hope Mills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$790,000
RESTAURANT
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
OFFICE BUILDING
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$910,000
RETAIL STORES
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$680,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1996
Heating
NONE
Stories
1
Buildings
2
Bathrooms
7
Lot
1.29 ac
Current owner
From public records · entity-resolved
Thomas J Etal Frangakis
Individual
Mailing address
502 LENNOX DR, FAYETTEVILLE, NC 28303-5136
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2005
—
Thomas J Etal Frangakis
Spell,terry W & Jan D
Grant 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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