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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Retail space
500 Salisbury Ave Spencer, NC 28159-2102
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US53-2360411
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Total area
5,397 SF
Lot
0.13 ac (5,532 SF)
Zoning code
CB:CENTRAL BUSINESS
APN
032 128
UPID
US53-2360411
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
-
Little Choo Choo Shop Inc (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$594k
Blend (final)
Blend
$580k
Owner & transaction history
Starburst Properties LLC
Starburst Properties LLC
1 recorded transaction
Zoning & alternative use
CB:CENTRAL BUSINESS · Spencer, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$760,000
+59.8%
Commercial (general)
$690,000
+45.3%
Office building
$660,000
+38.6%
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 Spencer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
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
RETAIL STORES
$475,000
Current use
MEDICAL BUILDING
$760,000
Change: +60% · Conversion: Difficult
COMMERCIAL (GENERAL)
$690,000
Change: +45% · Conversion: Easy
OFFICE BUILDING
$660,000
Change: +39% · Conversion: Easy
RESTAURANT
$650,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$510,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$107 / 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
$2,873
Tax year 2023
Assessed value
$254,240
Assessed 2023
Previous assessed
$206,339
+23.2% YoY
Effective rate
1.13%
On assessed value
Assessed land
$26,400
Assessed improvement
$227,840
Land market value
$26,400
Improvement market value
$227,840
Total market value
$254,240
Applied tax rate
103.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,397 SF
Lot
0.13 ac (5,532 SF)
Zoning code
CB:CENTRAL BUSINESS
APN
032 128
UPID
US53-2360411
Jurisdiction
ROWAN
Zoning & alternative use
CB:CENTRAL BUSINESS · Spencer, NC
Zoning CB:CENTRAL BUSINESS · permitted uses
CB:CENTRAL BUSINESS · Spencer, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spencer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$475,000
MEDICAL BUILDING
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$690,000
OFFICE BUILDING
Est. value
$660,000
RESTAURANT
Est. value
$650,000
AUTO REPAIR, GARAGE
Est. value
$510,000
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1997
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Starburst Properties LLC
Entity
Mailing address
122 N LEE ST, SALISBURY, NC 28144-5052
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Starburst Properties LLC
—
Deed Of Trust
related
$182,932 · Suntrust 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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