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Property profile & analytics
OFF-MARKET
Commercial land
401 Long St, East Spencer, NC 28144-5543
Individually Owned
7-yr Hold
Free & Clear
Property ID
US53-1525724
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1927
Total area
1,725 SF
Lot
0.14 ac (6,055 SF)
Zoning code
C4
APN
026 019
UPID
US53-1525724
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Steven R Rathbun · 7 yrs held
Steven R Rathbun
since 2018
4 recorded transactions
Zoning & alternative use
C4 · East 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 East Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$67
Tax year 2023
Assessed value
$5,406
Assessed 2023
Previous assessed
$5,069
+6.6% YoY
Effective rate
1.24%
On assessed value
Assessed land
$5,406
Land market value
$5,406
Total market value
$5,406
Applied tax rate
104.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1927
Heating
RADIANT
Stories
1
Total area
1,725 SF
Lot
0.14 ac (6,055 SF)
Zoning code
C4
APN
026 019
UPID
US53-1525724
Jurisdiction
ROWAN
Zoning & alternative use
C4 · East Spencer, NC
Zoning C4 · permitted uses
C4 · East Spencer, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Spencer. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1927
Heating
RADIANT
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Steven R Rathbun
Individual
Free & Clear · 7 yrs held
Mailing address
PO BOX 74, EAST SPENCER, NC 28039-0074
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2018
$5,500
Steven R Rathbun
Ussery,shane M & Kimberly M
Warranty Deed
—
May 18, 2017
$2,500
Shane Ussery
JR Const & Remodeling INC
Warranty Deed
—
Dec 30, 2016
$1,000
JR Const & Remodeling INC
Martin,brenda K & Frederick J JR
Warranty Deed
—
May 17, 2006
$3,400,000
Spectra Grp LLC
Krider,curry W JR
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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