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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Banks
507 Innes St, Salisbury, NC 28144-4267
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1158354
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1961
Total area
20,578 SF
Lot
1.61 ac (70,132 SF)
APN
010 461
UPID
US53-1158354
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
-
Nationwide Insurance: Hiller Ringeman Insurance Agency Inc Insurance Agency
-
Brandon Alvin B CPA Tax Preparation
-
Chanelle Delima Foster Care Service Social Service Agency
-
Horace Auto Insurance Co Insurance Agency
-
newwealthfin Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.38M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.57M
Owner & transaction history
Yk LLC · 4 yrs held
Yk LLC
since 2021
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+51.3%
Office building
$2.6M
+51.1%
Medical building
$1.9M
+12.9%
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 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
$1,600,000
ML approach
$1,375,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,710,000
Current use
COMMERCIAL (GENERAL)
$2,585,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$2,585,000
Change: +51% · Conversion: Difficult
MEDICAL BUILDING
$1,930,000
Change: +13% · Conversion: Difficult
RESTAURANT
$1,915,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$1,570,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,395,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±10% · vs last sale $1.55M (Aug 31 2021)
Last sale anchor
$1.55M
Aug 31 2021
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
$76 / 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
$15,348
Tax year 2023
Assessed value
$1,283,256
Assessed 2023
Previous assessed
$1,056,516
+21.5% YoY
Effective rate
1.20%
On assessed value
Assessed land
$631,188
Assessed improvement
$652,068
Land market value
$631,188
Improvement market value
$652,068
Total market value
$1,283,256
Applied tax rate
101.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1961
Heating
HEAT PUMP
Stories
2
Units
1
Total area
20,578 SF
Lot
1.61 ac (70,132 SF)
APN
010 461
UPID
US53-1158354
Jurisdiction
ROWAN
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
FINANCIAL BUILDING Current
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$1.9M
RESTAURANT
Est. value
$1.9M
RETAIL STORES
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
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
1961
Heating
HEAT PUMP
Stories
2
Units
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Yk LLC
Entity
Mailing address
355 DUNDEE DR, BLUE BELL, PA 19422-2439
Ownership since
2021
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
Aug 31, 2021
$1,550,000
Yk LLC
Gorjian Salisbury Realty LLC
Special Warranty Deed
$400,000 · Td 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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