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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Residential income homes
406 Main St, Rockwell, NC 28138-7429
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US53-1588213
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1946
Total area
6,664 SF
Lot
0.36 ac (15,464 SF)
Zoning code
M1
APN
362 283
UPID
US53-1588213
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
-
Levi's Painting Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
Ricky Grubbs · 9 yrs held
Ricky Grubbs
since 2017
1 recorded transaction
Zoning & alternative use
M1 · Rockwell, 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 Rockwell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockwell 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
COMMERCIAL (GENERAL)
$930,000
Change: 0% · Conversion: Moderate
OFFICE BUILDING
$835,000
Change: 0% · Conversion: Moderate
MEDICAL BUILDING
$660,000
Change: 0% · Conversion: Moderate
RESTAURANT
$605,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$590,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$485,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$89 / 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
$4,506
Tax year 2023
Assessed value
$433,222
Assessed 2023
Previous assessed
$433,222
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$63,812
Assessed improvement
$369,410
Land market value
$63,812
Improvement market value
$369,410
Total market value
$433,222
Applied tax rate
109.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1946
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Units
1
Total area
6,664 SF
Lot
0.36 ac (15,464 SF)
Zoning code
M1
APN
362 283
UPID
US53-1588213
Jurisdiction
ROWAN
Zoning & alternative use
M1 · Rockwell, NC
Zoning M1 · permitted uses
M1 · Rockwell, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockwell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$930,000
OFFICE BUILDING
Est. value
$835,000
MEDICAL BUILDING
Est. value
$660,000
RESTAURANT
Est. value
$605,000
RETAIL STORES
Est. value
$590,000
AUTO REPAIR, GARAGE
Est. value
$485,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
1946
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Ricky Grubbs
Individual
Mailing address
2501 FAIRVIEW RD, GALAX, VA 24333-3149
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2017
$309,000
Ricky Grubbs
Duncan,jimmy L & Linda L
Warranty Deed
$289,000 · Jimmy L & Linda B Duncan
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.
Try Rey
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