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Property profile & analytics
OFF-MARKET
Office buildings
503 5th Ave, Lexington, NC 27292-2909
Individually Owned
22-yr Hold
~
Est. High Equity
Property ID
US53-5268939
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Construction
FRAME
Total area
1,410 SF
Lot
0.13 ac (5,663 SF)
Zoning code
MU
APN
11-105-0-00B-0014
UPID
US53-5268939
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
-
Diamond Auto Sales Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Iftikhar Ahmed · 22 yrs held
Iftikhar Ahmed
since 2004
1 recorded transaction
Zoning & alternative use
MU · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$667
Tax year 2023
Assessed value
$50,900
Assessed 2023
Previous assessed
$49,800
+2.2% YoY
Effective rate
1.31%
On assessed value
Land market value
$16,990
Improvement market value
$33,910
Total market value
$50,900
Applied tax rate
11.0000
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
1940
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
1,410 SF
Lot
0.13 ac (5,663 SF)
Zoning code
MU
APN
11-105-0-00B-0014
UPID
US53-5268939
Jurisdiction
DAVIDSON
Zoning & alternative use
MU · Lexington, NC
Zoning MU · permitted uses
MU · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Iftikhar Ahmed
Individual
Mailing address
503 W 5TH AVE, LEXINGTON, NC 27292-2909
Ownership since
2004
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
May 26, 2004
$75,000
Iftikhar Ahmed
Standell Corp
Warranty Deed
$60,000 · Standell Corp
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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