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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Warehouses
4243 Main St, Salisbury, NC 28147-9381
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1409180
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
6,796 SF
Lot
0.56 ac (24,394 SF)
Zoning code
CBI
APN
471 078
UPID
US53-1409180
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
$590k
CAP Approach
CAP
$775k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Edward Dike Mullis · 1 yrs held
Edward Dike Mullis
since 2024
Last sale
$590,000
1 recorded transaction
Zoning & alternative use
CBI · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$960,000
+275.0%
Commercial (general)
$905,000
+254.4%
Restaurant
$815,000
+219.6%
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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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
$590,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
$840,000
6.5%
$775,000
7%
$720,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$960,000
Change: +275% · Conversion: Difficult
COMMERCIAL (GENERAL)
$905,000
Change: +254% · Conversion: Difficult
RESTAURANT
$815,000
Change: +220% · Conversion: Difficult
OFFICE BUILDING
$810,000
Change: +217% · Conversion: Difficult
RETAIL STORES
$625,000
Change: +145% · Conversion: Moderate
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $590k (Oct 10 2024)
Last sale anchor
$590k
Oct 10 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
$87 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$1,367
Tax year 2024
Assessed value
$201,792
Assessed 2024
Previous assessed
$201,792
+0.0% YoY
Effective rate
0.68%
On assessed value
Assessed land
$70,840
Assessed improvement
$130,952
Land market value
$70,840
Improvement market value
$130,952
Total market value
$201,792
Applied tax rate
126.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
YES
Stories
1
Total area
6,796 SF
Lot
0.56 ac (24,394 SF)
Zoning code
CBI
APN
471 078
UPID
US53-1409180
Jurisdiction
ROWAN
Zoning & alternative use
CBI · Salisbury, NC
Zoning CBI · permitted uses
CBI · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$960,000
COMMERCIAL (GENERAL)
Est. value
$905,000
RESTAURANT
Est. value
$815,000
OFFICE BUILDING
Est. value
$810,000
RETAIL STORES
Est. value
$625,000
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
1989
Construction
STEEL FRAME
Heating
YES
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Edward Dike Mullis
Individual
Mailing address
8859 BRANDON CIR, CONCORD, NC 28025-8112
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Oct 10, 2024
$590,000
Edward Dike Mullis
Mark Allen Stout
Warranty Deed
$998,000 · Fifth Third Bank NA
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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