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Property profile & analytics
OFF-MARKET
Estimated value
$7,540,000
Office buildings
5001 Alex Lee Blvd Hickory, NC 28601-3395
Entity Owned
Free & Clear
Property ID
US53-1275253
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
STEEL FRAME
Total area
45,996 SF
Lot
7.51 ac (327,136 SF)
APN
08 66 1 11
UPID
US53-1275253
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
-
MDI Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.85M
Comparable Approach
Comparable
$7.39M
Blend (final)
Blend
$7.54M
Owner & transaction history
MDI MANAGEMENT INC
MDI MANAGEMENT INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.5M
+98.3%
Auto repair, garage
$5.5M
+2.7%
Retail stores
$5.4M
+1.9%
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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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%
$9,585,000
6.5%
$8,850,000
7%
$8,215,000
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
Blend value · Realmo final
$7.54M
Range $6.79M – $8.29M · ±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
$164 / 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
Property tax & assessments
Assessed value
$5,073,300
Assessed 2024
Previous assessed
$5,073,300
+0.0% YoY
Assessed land
$120,600
Assessed improvement
$4,952,700
Land market value
$120,600
Improvement market value
$4,952,700
Total market value
$5,073,300
Applied tax rate
8.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
3
Bathrooms
20
Total area
45,996 SF
Lot
7.51 ac (327,136 SF)
APN
08 66 1 11
UPID
US53-1275253
Jurisdiction
CALDWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.3M
RESTAURANT
Est. value
$10.5M
AUTO REPAIR, GARAGE
Est. value
$5.5M
RETAIL STORES
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.5M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Bathrooms
20
Lot
7.51 ac
Current owner
From public records · entity-resolved
MDI MANAGEMENT INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 800, HICKORY, NC 28603-0800
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
No recorded transactions
No recorded transactions found for this property.
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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