Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    41 22nd NE Ave Hickory, NC 28601-1456

    • Garden apartment buildings
    • 9,632 SF
    • 1.09 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2025
    $1,000,000
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    8.5%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US53-0989837
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 41 22nd NE Ave

    Year built
    1984
    Construction
    WOOD
    Lot size
    1.09 lot acres
    Property size
    9,632 SF
    Zone code
    R-4
    Property type
    Garden apartment buildings
    APN
    3704-20-80-2077
    APU
    370420802077

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $950,000
      ML approach
      $985,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,345,000
      6.5%
      $1,245,000
      7%
      $1,155,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $842,000
      Market price range: $571k - $2.31M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3318
    Latitude
    35.7611
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,914
    $38,000
    $654,900
    $692,900
    -
    $38,000
    $654,900
    $692,900

    Comparable in this City

    • Value Estimation
      $545,000
      8,992 SF

      1930 20th Ave NE Dr

      GARDEN APT, COURT APT (5+ UNITS) • 8,992 SF
      1930 20th Ave NE Dr, Hickory, NC 28601-0609
      View Details
    • Value Estimation
      $575,000
      20,436 SF

      3000 6th NE St

      GARDEN APT, COURT APT (5+ UNITS) • 20,436 SF
      3000 6th NE St, Hickory, NC 28601-1289
      View Details
    • Value Estimation
      $310,000
      7,470 SF

      1365 5th St Nea

      GARDEN APT, COURT APT (5+ UNITS) • 7,470 SF
      1365 5th St Nea, Hickory, NC 28601-2000
      View Details
    • Value Estimation
      $360,000
      17,456 SF

      1017 10th NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 17,456 SF
      1017 10th NE Ave, Hickory, NC 28601-4016
      View Details
    • Value Estimation
      $280,000
      5,884 SF

      545 12th NE Ave, Unit A

      GARDEN APT, COURT APT (5+ UNITS) • 5,884 SF
      545 12th NE Ave, Hickory, NC 28601-2785
      View Details
    • Value Estimation
      $420,000
      7,630 SF

      3900 1st N Ctr St

      GARDEN APT, COURT APT (5+ UNITS) • 7,630 SF
      3900 1st N Ctr St, Hickory, NC 28601
      View Details

    Similar Nearby for Sale

    • $799,900

      Spacious Townhome with Dual Suites

      Low-maintenance townhome with multiple primary suites and lake views.
      2137 6Th St NW, Hickory, NC 28601
      View Details
    • $999,000
      1.13 Acres

      Hickory, NC Commercial Land Investment

      High-growth area, multiple development parcels.
      2633 Springs Rd, Hickory, NC 28601
      View Details
    • $4,736,365
      18,950 SF

      Hickory, NC Net-Leased Medical Office

      7.5% Cap Rate, 7+ Years Remaining, Strong Tenant
      1022 2Nd St, Hickory, NC 28601
      View Details
    • $499,900

      Highway 321 Commercial Land

      Prime Hickory location, 1-acre, highway frontage.
      1241 None, Hickory, NC 28601
      View Details
    • $978,000
      0.43 Acres

      Hickory Commercial Trio - High ROI

      Three income buildings, ample parking, prime location.
      1117-1127 2Nd St, Hickory, NC 28601
      View Details
    • $457,000
      3,500 SF

      Hickory Retail Space - High Potential

      Prime Hickory location, versatile retail space.
      941 3Rd Ave, Hickory, NC 28601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,630 SF

      Hickory, NC Commercial Property

      4,630 SF Office/Retail Space, High Traffic
      1856 12Th Ave, Hickory, NC 28601
      View Details
    • Contact for pricing

      Hickory Land For Ground Lease

      2 acres available for ground lease on heavily travelled corridor.
      Hickory, NC 28601
      View Details
    • $19 SF/Yr
      19,832 SF

      Two-Floor Office Space Available

      Two full floors available for immediate lease in Hickory.
      2810 16Th St NE, Hickory, NC 28601
      View Details
    • $1,050 /Mo
      5,227 SF

      Hickory Office Space For Rent

      Office spaces with high visibility and flexible layouts available for rent.
      75 Rink Dam Rd, Hickory, NC 28601
      View Details
    • $69 SF/Yr
      6,000 SF

      Prime Catawba County Industrial Space

      6,000 SF Office/Warehouse - Available Now
      1700 11Th Ave, Hickory, NC 28601
      View Details
    • Contact for pricing

      Retail Space in Hickory, NC

      Retail spaces available for lease in Hickory's prominent retail area.
      Hickory, NC 28601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    41 22nd NE Ave
    Hickory, NC 28601-1456
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.