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Property profile & analytics
OFF-MARKET
Estimated value
$50,000
Commercial real estate
702 Durham Ave Statesville, NC 28677-6581
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-1918783
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,184 SF
Lot
0.16 ac (6,970 SF)
Zoning code
R-5MFM
APN
4734-80-4636.000
UPID
US53-1918783
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$50k
Owner & transaction history
Craig L Jenkins · 6 yrs held
Craig L Jenkins
since 2020
Last sale
$40,000
2 recorded transactions
Zoning & alternative use
R-5MFM · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
lle Landscape Ordinance - Table 1 Buffer Yards Proposed Site Zoned Single-Family Adjacent Property Zoned Buffer Yard Required R-A C R-20 C R-15 C R-15M C R-10 C R-10M C R-8 C R-8M C R-8MF A R-8MFM A R-5 C R-5M C R-5MF A R-5MFM A O-1 B O & I-2 B B-1 C B-2 C B-3 E B-4 E B-5 E CB C CBP C H-115 C L1 F H1 F Proposed Site Zoned Multi-Family Adjacent Property Zoned…
Zone name
High Density Single Multifamily Manufactured Housing Residential District
General category
RESIDENTIAL
Zone area
458.97 ac
Source
code of ordinances
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
$50,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$50k
Range $45k – $55k · ±10% · vs last sale $40k (Feb 27 2020)
Last sale anchor
$40k
Feb 27 2020
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
$42 / 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
$531
Tax year 2023
Assessed value
$52,170
Assessed 2023
Previous assessed
$19,690
+165.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$12,500
Assessed improvement
$39,670
Land market value
$12,500
Improvement market value
$39,670
Total market value
$52,170
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Rooms
1
Bathrooms
1
Total area
1,184 SF
Lot
0.16 ac (6,970 SF)
Zoning code
R-5MFM
APN
4734-80-4636.000
UPID
US53-1918783
Jurisdiction
IREDELL
Zoning & alternative use
R-5MFM · Statesville, NCZoning R-5MFM · permitted uses
R-5MFM · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
lle Landscape Ordinance - Table 1 Buffer Yards Proposed Site Zoned Single-Family Adjacent Property Zoned Buffer Yard Required R-A C R-20 C R-15 C R-15M C R-10 C R-10M C R-8 C R-8M C R-8MF A R-8MFM A R-5 C R-5M C R-5MF A R-5MFM A O-1 B O & I-2 B B-1 C B-2 C B-3 E B-4 E B-5 E CB C CBP C H-115 C L1 F H1 F Proposed Site Zoned Multi-Family Adjacent Property Zoned Buffer Yard Required R-A C R-20 C R-15 C R-15M C R-10 C R-10M C R-8 C R-8M C R-8MF A
Zone name
High Density Single Multifamily Manufactured Housing Residential District
General category
RESIDENTIAL
Zone area
458.97 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Craig L Jenkins
Individual
Mailing address
820 CHAL DR, STATESVILLE, NC 28677-2806
Ownership since
2020
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
Feb 27, 2020
$40,000
Craig L Jenkins
Lesley W Marlowe
Warranty Deed
$36,000 · Lesley W Marlowe
Feb 15, 2001
—
Lesley W Marlowe
Marlowe,glenda
Quit Claim Deed
related
—
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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