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Property profile & analytics
OFF-MARKET
Estimated value
$1,750,000
Grocery and convenience stores
7979 Franklin St Mt Pleasant, NC 28124-8507
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-1268623
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1998
Construction
STEEL FRAME
Total area
8,300 SF
Lot
1.9 ac (82,590 SF)
Zoning code
C-1
APN
5670 05 1430
UPID
US53-1268623
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
-
Shell Gas Station
-
Mount Pleasant Japanese Express Restaurant
-
Hunt Brothers Pizza Restaurant
-
MP Food Mart Grocery & Convenience Store
-
Mt. Pleasant Japanese Express Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.42M
CAP Approach
CAP
$1.88M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.75M
Owner & transaction history
Ongc LLC · 5 yrs held
Ongc LLC
since 2021
Last sale
$2.0M
4 recorded transactions
Zoning & alternative use
C-1 · Mt Pleasant, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+385.5%
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 Mt Pleasant submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mt Pleasant 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
$1,450,000
ML approach
$1,420,000
CAP Approach
CAP Return
Estimation
6%
$2,035,000
6.5%
$1,880,000
7%
$1,745,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,440,000
Change: +386% · Conversion: Moderate
Blend value · Realmo final
$1.75M
Range $1.58M – $1.93M · ±10% · vs last sale $2.00M (May 27 2021)
Last sale anchor
$2.00M
May 27 2021
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
$211 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$14,299
Tax year 2024
Assessed value
$1,480,230
Assessed 2024
Previous assessed
$1,143,540
+29.4% YoY
Effective rate
0.97%
On assessed value
Assessed land
$363,400
Assessed improvement
$1,116,830
Land market value
$363,400
Improvement market value
$1,116,830
Total market value
$1,480,230
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Bathrooms
4
Total area
8,300 SF
Lot
1.9 ac (82,590 SF)
Zoning code
C-1
APN
5670 05 1430
UPID
US53-1268623
Jurisdiction
CABARRUS
Zoning & alternative use
C-1 · Mt Pleasant, NCZoning C-1 · permitted uses
C-1 · Mt Pleasant, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.4M
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
1998
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
4
Lot
1.9 ac
Current owner
From public records · entity-resolved
Ongc LLC
Entity
Mailing address
7979 W FRANKLIN ST, MT PLEASANT, NC 28124-8507
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
May 27, 2021
$2,000,000
Ongc LLC
Ricky L Lambert
Warranty Deed
$1,340,850 · United Bank
Mar 16, 2010
—
Ricky L Lambert
Ward,alma T
Warranty Deed
related
—
—
—
Lambert,ricky L
—
Loan Modification
related
—
—
—
Rick L Lambert
—
Loan Modification
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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