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Property profile & analytics
FOR SALE
Office buildings
725 Reese Dr SW Conover, NC 28613
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-1908628
For Sale
1 / 3
$7,150,000
725 Reese Dr SW, Conover, NC 28613
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Total area
137,438 SF
Lot
13.26 ac (577,606 SF)
Zoning code
M-1
APN
3732-19-50-4221
UPID
US53-1908628
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
-
Glisan Insurance Agency Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.66M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.23M
Blend (final)
Blend
$7.15M
Owner & transaction history
Citimark Reese Nc LLC · 1 yrs held
Citimark Reese Nc LLC
since 2025
Last sale
$7.5M
4 recorded transactions
Zoning & alternative use
M-1 · Conover, 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 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
$5,855,000
ML approach
$6,660,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.15M
Range $6.44M – $7.87M · ±10% · vs last sale $7.50M (Mar 26 2025)
Last sale anchor
$7.50M
Mar 26 2025
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
$52 / 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
$43,972
Tax year 2023
Assessed value
$5,541,500
Assessed 2023
Previous assessed
$5,541,500
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$307,100
Assessed improvement
$5,234,400
Land market value
$307,100
Improvement market value
$5,234,400
Total market value
$5,541,500
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
For Sale
Year built
1994
Heating
HOT WATER
Cooling
CENTRAL
Units
1
Total area
137,438 SF
Lot
13.26 ac (577,606 SF)
Zoning code
M-1
APN
3732-19-50-4221
UPID
US53-1908628
Jurisdiction
CATAWBA
Zoning & alternative use
M-1 · Conover, NC
Zoning M-1 · permitted uses
M-1 · 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.
Building & site characteristics
From public records
Year built
1994
Heating
HOT WATER
Cooling
Yes
Units
1
Lot
13.26 ac
Current owner
From public records · entity-resolved
Citimark Reese Nc LLC
Entity
Mailing address
1201 EDWARDS ML RD STE #300, RALEIGH, NC 27607-3625
Ownership since
2025
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
Mar 26, 2025
$7,500,000
Citimark Reese Nc LLC
R R Donnelley And Sons Company
Special Warranty Deed
$6,471,000 · First Internet Bank Of Indiana
Mar 26, 2025
$4,635,000
R R Donnelley & Sons Company
Icp Greensboro LLC
Special Warranty Deed
—
Jun 28, 2019
$3,755,500
Icp Greensboro LLC
Conlover Web LLC
Warranty Deed
$3,797,600 · First Bank
Jun 18, 2019
—
Conover Web LLC
Catawba Cnty
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.
Try Rey
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