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Property profile & analytics
OFF-MARKET
Estimated value
$2,825,000
Office buildings
612 3rd NE Ave Hickory, NC 28601-5164
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-1684451
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Total area
12,214 SF
Lot
0.81 ac (35,284 SF)
Zoning code
C-2
APN
3703-20-80-2289
UPID
US53-1684451
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
-
von Drehle Corporation Corporate Office
-
Dedicated Transportation Group Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.83M
CAP Approach
CAP
$2.65M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.83M
Owner & transaction history
Stat Jv I LLC · 2 yrs held
Stat Jv I LLC
since 2024
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
C-2 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+98.3%
Medical building
$2.3M
+64.3%
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
$2,825,000
ML approach
$2,825,000
CAP Approach
CAP Return
Estimation
6%
$2,865,000
6.5%
$2,645,000
7%
$2,455,000
Alternative Use
Use
Estimation
RESTAURANT
$2,800,000
Change: +98% · Conversion: Moderate
MEDICAL BUILDING
$2,320,000
Change: +64% · Conversion: Easy
Blend value · Realmo final
$2.83M
Range $2.54M – $3.11M · ±10% · vs last sale $2.83M (Jan 26 2024)
Last sale anchor
$2.83M
Jan 26 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
$231 / 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
$8,301
Tax year 2023
Assessed value
$972,600
Assessed 2023
Previous assessed
$972,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$141,100
Assessed improvement
$831,500
Land market value
$141,100
Improvement market value
$831,500
Total market value
$972,600
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
1980
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Units
1
Total area
12,214 SF
Lot
0.81 ac (35,284 SF)
Zoning code
C-2
APN
3703-20-80-2289
UPID
US53-1684451
Jurisdiction
CATAWBA
Zoning & alternative use
C-2 · Hickory, NC
Zoning C-2 · permitted uses
C-2 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.3M
RESTAURANT
MEDICAL 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
1980
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Stat Jv I LLC
Entity
Free & Clear · 2 yrs held
Mailing address
8377 E HARTFORD DR STE #100, SCOTTSDALE, AZ 85255-5686
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2024
$2,825,500
Stat Jv I LLC
Marcal Hickory LLC
Special Warranty Deed
—
Jan 26, 2024
—
Marcal Holdings LLC
Stat Jv I LLC
Lease
—
Dec 27, 2022
$1,617,000
Marcal Hickory LLC
Von Drehle Hickory LLC
Special Warranty Deed
—
Dec 8, 2006
—
Vondrehle Hickory LLC
Vondrehle Properties LLC
Quit Claim Deed
—
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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