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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Office Spaces
8432 Norcross Rd, Colfax, NC 27235-9754
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US53-0762125
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1969
Total area
5,460 SF
Lot
3.06 ac (133,294 SF)
Zoning code
LI
APN
170719
UPID
US53-0762125
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
-
Southern Sod Grass Garden Center Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$850k
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$865k
Owner & transaction history
Mark P Abee · 16 yrs held
Mark P Abee
since 2009
2 recorded transactions
Zoning & alternative use
LI · Colfax, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+29.9%
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 Colfax submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colfax 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$820,000
Current use
RETAIL STORES
$1,070,000
Change: +30% · Conversion: Easy
Blend value · Realmo final
$865k
Range $779k – $952k · ±10%
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
$158 / 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
$7,053
Tax year 2023
Assessed value
$814,100
Assessed 2023
Previous assessed
$814,100
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$306,000
Assessed improvement
$508,100
Land market value
$306,000
Improvement market value
$508,100
Total market value
$814,100
Applied tax rate
88.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1969
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
3
Stories
1
Rooms
15
Bathrooms
3
Total area
5,460 SF
Lot
3.06 ac (133,294 SF)
Zoning code
LI
APN
170719
UPID
US53-0762125
Jurisdiction
GUILFORD
Zoning & alternative use
LI · Colfax, NC
Zoning LI · permitted uses
LI · Colfax, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Colfax. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$820,000
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1969
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
3
Rooms
15
Bathrooms
3
Lot
3.06 ac
Current owner
From public records · entity-resolved
Mark P Abee
Individual
Mailing address
4202 W FRIENDLY AVE, GREENSBORO, NC 27410-5546
Ownership since
2009
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
Apr 20, 2021
—
Mark P Abee
—
Deed
related
$300,000 · Pinnacle Bank
Sep 3, 2009
$405,000
Mark P Abee
Girl Scouts Tarheel Triad Council I
Warranty Deed
$300,000 · Branch Banking And Trust Co
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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