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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Office buildings
400 2nd NW Ave Hickory, NC 28601-4993
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US53-2217736
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
WOOD
Total area
23,532 SF
Lot
1.6 ac (69,696 SF)
Zoning code
OI
APN
3703-18-30-9667
UPID
US53-2217736
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
-
Affinity Business Service Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.28M
Blend (final)
Blend
$1.80M
Owner & transaction history
Cob LLC · 8 yrs held
Cob LLC
since 2017
Last sale
$1.8M
5 recorded transactions
Zoning & alternative use
OI · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OI district is intended to provide locations for the development of institutions of higher learning and medical hospitals within Public or Institutional areas, as identified with the Hickory by Choice Comprehensive Plan. The OI district is also intended to provide for transitional land uses between residential and commercial uses. OI districts providing…
Zone name
Office And Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
985.53 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.8M
+2.7%
Retail stores
$2.8M
+1.9%
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
$1,800,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,720,000
Current use
AUTO REPAIR, GARAGE
$2,795,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$2,770,000
Change: +2% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,500,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,320,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.80M (Nov 20 2024)
Last sale anchor
$1.80M
Nov 20 2024
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
$76 / 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
$15,460
Tax year 2023
Assessed value
$1,811,400
Assessed 2023
Previous assessed
$1,811,400
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$278,800
Assessed improvement
$1,532,600
Land market value
$278,800
Improvement market value
$1,532,600
Total market value
$1,811,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
3
Units
1
Total area
23,532 SF
Lot
1.6 ac (69,696 SF)
Zoning code
OI
APN
3703-18-30-9667
UPID
US53-2217736
Jurisdiction
CATAWBA
Zoning & alternative use
OI · Hickory, NCZoning OI · permitted uses
OI · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OI district is intended to provide locations for the development of institutions of higher learning and medical hospitals within Public or Institutional areas, as identified with the Hickory by Choice Comprehensive Plan. The OI district is also intended to provide for transitional land uses between residential and commercial uses. OI districts providing transitional areas are generally characterized as smaller sites allowing for small-scale offices
Zone name
Office And Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
985.53 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
1
Lot
1.6 ac
Current owner
From public records · entity-resolved
Cob LLC
Entity
Mailing address
PO BOX 2568, HICKORY, NC 28603-2568
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2017
$2,000,000
Cob LLC
American Roller Bearing Company
Special Warranty Deed
$30,346 · Suntrust Bank
Jan 3, 2011
$2,625,000
American Roller Bearing Co
First Lawyers Building LLC
Warranty Deed
—
Jan 3, 2011
—
American Roller Bearing Co
First Lawyers Building LLC
Quit Claim Deed
related
—
—
—
American Roller Bearing Co
—
Deed Of Trust
related
$29,648,000 · Dollar Bk
—
—
Cob LLC
—
Deed Of Trust
related
$1,700,000 · Suntrust Bk/nature Coast
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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