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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Investment properties
509 1st S Ave Conover, NC 28613-2705
Individually Owned
14-yr Hold
Free & Clear
Property ID
US53-1618595
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1929
Construction
WOOD
Total area
7,761 SF
Lot
1.01 ac (43,996 SF)
Zoning code
MX
APN
3741-05-07-9727
UPID
US53-1618595
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
-
Drum Funeral Home - Conover Cremation Service Cemetery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$572k
Blend (final)
Blend
$690k
Owner & transaction history
Sci North Carolina Funeral Svc · 14 yrs held
Sci North Carolina Funeral Svc
since 2012
2 recorded transactions
Zoning & alternative use
MX · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$910,000
+86.0%
Auto repair, garage
$790,000
+62.0%
Retail stores
$750,000
+53.5%
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
COMMERCIAL (GENERAL)
$490,000
Current use
APARTMENT HOUSE (5+ UNITS)
$910,000
Change: +86% · Conversion: Moderate
AUTO REPAIR, GARAGE
$790,000
Change: +62% · Conversion: Difficult
RETAIL STORES
$750,000
Change: +54% · Conversion: Easy
OFFICE BUILDING
$705,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$89 / 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
$4,417
Tax year 2023
Assessed value
$556,700
Assessed 2023
Previous assessed
$556,700
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$92,400
Assessed improvement
$464,300
Land market value
$92,400
Improvement market value
$464,300
Total market value
$556,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1929
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
7,761 SF
Lot
1.01 ac (43,996 SF)
Zoning code
MX
APN
3741-05-07-9727
UPID
US53-1618595
Jurisdiction
CATAWBA
Zoning & alternative use
MX · Conover, NC
Zoning MX · permitted uses
MX · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$490,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$910,000
AUTO REPAIR, GARAGE
Est. value
$790,000
RETAIL STORES
Est. value
$750,000
OFFICE BUILDING
Est. value
$705,000
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1929
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
Sci North Carolina Funeral Svc
Individual
Free & Clear · 14 yrs held
Mailing address
PO BOX 130548, HOUSTON, TX 77219-0548
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2012
$1,500,000
Sci North Carolina Funeral Svc
Tipho Holdings LLC
Grant Deed
—
Aug 17, 2011
$1,444,500
Tipho Holdings LLC
Terry Holdings LLC
Warranty Deed
$1,429,638 · Bank Of Granite
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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