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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Auto shops
585 Ritchie Rd, Salisbury, NC 28147-8175
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-1038252
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2008
Construction
STEEL FRAME
Total area
11,300 SF
Lot
4.56 ac (198,634 SF)
Zoning code
RR
APN
400 026
UPID
US53-1038252
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
-
Faith Farm & Equipment Sales (Bike/Boat/Book/etc) Store Garden Center
-
Ken Osterhus General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.06M
Owner & transaction history
Enduring Faith LLC · 2 yrs held
Enduring Faith LLC
since 2024
Last sale
$1.1M
6 recorded transactions
Zoning & alternative use
RR · Salisbury, 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 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
$1,060,000
ML approach
$1,060,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,645,000
Current use
MEDICAL BUILDING
$1,595,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,505,000
Change: -9% · Conversion: Moderate
RESTAURANT
$1,355,000
Change: -18% · Conversion: Difficult
OFFICE BUILDING
$1,345,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10% · vs last sale $1.06M (May 22 2024)
Last sale anchor
$1.06M
May 22 2024
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
$94 / 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
$5,199
Tax year 2023
Assessed value
$775,929
Assessed 2023
Previous assessed
$775,929
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$161,856
Assessed improvement
$614,073
Land market value
$161,856
Improvement market value
$614,073
Total market value
$775,929
Applied tax rate
112.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
YES
Stories
1
Units
1
Total area
11,300 SF
Lot
4.56 ac (198,634 SF)
Zoning code
RR
APN
400 026
UPID
US53-1038252
Jurisdiction
ROWAN
Zoning & alternative use
RR · Salisbury, NC
Zoning RR · permitted uses
RR · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salisbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
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
2008
Construction
STEEL FRAME
Heating
YES
Stories
1
Units
1
Lot
4.56 ac
Current owner
From public records · entity-resolved
Enduring Faith LLC
Entity
Mailing address
160 MINE LK CT #200, RALEIGH, NC 27615-6417
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2024
$1,058,000
Enduring Faith LLC
Rainy Day Investments LLC
Warranty Deed
$1,050,000 · Rainy Day Investments LLC
Dec 4, 2007
—
Rainy Day Investments LLC
—
Trustees Deed
related
$560,000 · Western Fsb
Jun 15, 2007
$7,200
Rainy Day Investments LLC
State Of North Carolina
Grant Deed
—
Jun 4, 2007
$4,500
Rainy Day Investments LLC
Rainy Day Investments LLC
Grant Deed
related
—
Aug 22, 2006
$15,000
Rainy Day Investments LLC
Shue,elma
Grant Deed
—
—
—
Rainy Day Investments LLC
—
Deed Of Trust
related
$521,000 · Farmers Bank
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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