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Property profile & analytics
OFF-MARKET
Estimated value
$1,415,000
Retail space
705 Jake Alexander W Blvd, Salisbury, NC 28147-1200
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1422603
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
15,065 SF
Lot
1.52 ac (66,211 SF)
Zoning code
B6
APN
061A104
UPID
US53-1422603
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
-
Cara Coladonato, PharmD Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Jaclyn Amey, PharmD Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$1.42M
Owner & transaction history
Mavis Southeast LLC · 4 yrs held
Mavis Southeast LLC
since 2022
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
B6 · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+58.2%
Medical building
$2.1M
+53.1%
Commercial (general)
$2.0M
+44.7%
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
$895,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,385,000
Current use
AUTO REPAIR, GARAGE
$2,195,000
Change: +58% · Conversion: Difficult
MEDICAL BUILDING
$2,125,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,005,000
Change: +45% · Conversion: Easy
RESTAURANT
$1,810,000
Change: +30% · Conversion: Easy
OFFICE BUILDING
$1,795,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$1.42M
Range $1.27M – $1.56M · ±10% · vs last sale $1.40M (Jul 1 2022)
Last sale anchor
$1.40M
Jul 1 2022
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
$39,690
Tax year 2023
Assessed value
$3,318,564
Assessed 2023
Previous assessed
$2,611,269
+27.1% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,311,000
Assessed improvement
$2,007,564
Land market value
$1,311,000
Improvement market value
$2,007,564
Total market value
$3,318,564
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Heating
YES
Stories
1
Units
1
Total area
15,065 SF
Lot
1.52 ac (66,211 SF)
Zoning code
B6
APN
061A104
UPID
US53-1422603
Jurisdiction
ROWAN
Zoning & alternative use
B6 · Salisbury, NC
Zoning B6 · permitted uses
B6 · 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
RETAIL STORES Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RESTAURANT
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
2005
Heating
YES
Stories
1
Units
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Mavis Southeast LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
$1,400,000
Mavis Southeast LLC
L S Bradshaw Real Estate LLC
Special Warranty Deed
—
Jun 11, 2019
$4,444,500
705 Jake Alexander LLC
Arcp Wg Portfolio II LLC
Grant Deed
$3,333,333 · Bank Of America
Oct 27, 2014
$4,669,500
Arcp Wg Portfolio II LLC
Wood 1031 LLC
Grant Deed
—
Apr 9, 2007
$4,725,000
Wood 1031 LLC
Salisbury Corners LLC
Trustees Deed
$33,850,000 · Capmark Bank
Mar 29, 2007
$4,725,000
Wood 1031 LLC
Salisbury Corners LLC
Grant Deed
—
Jul 5, 2005
—
Salisbury Corners LLC
Jalr Property INC
Deed
—
Jul 5, 2005
$2,175,000
Salisbury Corners LLC
Jalr Property INC
Warranty 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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