Add Listing
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

    5001 Alex Lee Blvd Hickory, NC 28601-3395

    • Office buildings
    • 45,996 SF
    • 7.51 lot acres
    OFF-MARKET
    Value Estimations
    $7,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1275253
    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

    • MDI / Distribution Center / Logistics Company

    Property Details for 5001 Alex Lee Blvd

    Year built
    2000
    Construction
    STEEL FRAME
    Lot size
    7.51 lot acres
    Property size
    45,996 SF
    Property type
    Office buildings
    APN
    08 66 1 11
    APU
    866111

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,585,000
      6.5%
      $8,850,000
      7%
      $8,215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,387,000
      Market price range: $2.62M - $7.66M
      AI Estimate
      $6,389,000
      Market price range: $1.45M - $7.34M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,315,000
      Current use
      RESTAURANT
      $10,545,000
      Change: +98% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $5,460,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $5,420,000
      Change: +2% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $4,890,000
      Change: -8% Conversion: Easy
      COMMERCIAL (GENERAL)
      $4,535,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.3867
    Latitude
    35.773
    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
    0
    $0.00
    $120,600
    $4,952,700
    $5,073,300
    -
    $120,600
    $4,952,700
    $5,073,300

    Comparable in this City

    • Value Estimation
      $2,520,000
      21,444 SF

      1880 2nd NW Ave

      OFFICE BUILDING • 21,444 SF
      1880 2nd NW Ave, Hickory, NC 28601-5766
      View Details
    • Value Estimation
      $5,965,000
      56,240 SF

      525 17th NW St

      OFFICE BUILDING • 56,240 SF
      525 17th NW St, Hickory, NC 28601-4727
      View Details
    • Value Estimation by Request
      1,364 SF

      24 1st NE Ave

      OFFICE BUILDING • 1,364 SF
      24 1st NE Ave, Hickory, NC 28601-6205
      View Details
    • Value Estimation
      $1,295,000
      10,505 SF

      912 2nd St Ne Ste, Unit 1

      OFFICE BUILDING • 10,505 SF
      912 2nd St Ne Ste, Hickory, NC 28601-3880
      View Details
    • Value Estimation by Request
      576 SF

      214 9th NW St

      OFFICE BUILDING • 576 SF
      214 9th NW St, Hickory, NC 28601-4856
      View Details
    • Value Estimation by Request
      4,135 SF

      2220 12th NE Ave

      OFFICE BUILDING • 4,135 SF
      2220 12th NE Ave, Hickory, NC 28601-3183
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      23,065 SF

      Downtown Hickory Building For Sale

      23,065 SF building in Downtown Hickory's Social District.
      39 2Nd St NW, Hickory, NC 28601
      View Details
    • $850,000
      0.91 Acres

      Hickory Commercial Property For Sale

      Versatile property suitable for offices, education, medical, retail, or specialty.
      925 NE 5Th St NE, Hickory, NC 28601
      View Details
    • $4,800,000

      Downtown Hickory Office Building

      Six-story office building in downtown Hickory with mountain views.
      200 1St Ave NW, 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
    • Contact for pricing

      Business Condos Near I-40

      Two business condos totaling 1,700 sqft, high-visibility location.
      929 15Th Street Ct, 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

    Similar Nearby for Lease

    • $9 SF/Yr
      39,640 SF

      Versatile Commercial Property in Hickory

      Adaptable commercial space suitable for various business operations.
      925 NE 5Th St NE, 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
    • $10 SF/Yr
      9,354 SF

      Prime Hickory Office Space

      Downtown Hickory office suites, 7 available.
      200 1St Ave, Hickory, NC 28601
      View Details
    • $10,000 /Mo

      Spacious Commercial Property Near University

      Versatile 10,000+ SF commercial space near Lenoir-Rhyne University.
      391 10Th Avenue Dr 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
    • $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
    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.
    5001 Alex Lee Blvd
    Hickory, NC 28601-3395
    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.
    Sign Up Successful!
    You now have access to more from Realmo!