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Property profile & analytics
OFF-MARKET
Estimated value
$7,880,000
Grocery and convenience stores
850 Jake Alexander W Blvd Salisbury, NC 28147-1225
Individually Owned
4-yr Hold
Free & Clear
Property ID
US53-1759578
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1996
Total area
63,227 SF
Lot
9.23 ac (402,059 SF)
Zoning code
HB:HIGHWAY BUSINESS
APN
062 048
UPID
US53-1759578
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
-
Lara M. Butler, MS Counselor
-
Great Clips Hair Salon Nail Salon
-
Western Union Bank Credit Union
-
Lendmark Financial Services LLC Loan Service
-
First National Bank ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.07M
Blend (final)
Blend
$7.88M
Owner & transaction history
Jean E Bringle · 4 yrs held
Jean E Bringle
since 2022
Last sale
$7.9M
7 recorded transactions
Zoning & alternative use
HB:HIGHWAY BUSINESS · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Land Development Ordinance
Top alternative use upside
Auto repair, garage
$9.2M
+58.2%
Medical building
$8.9M
+53.1%
Commercial (general)
$8.4M
+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
$5,045,000
ML approach
$6,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,825,000
Current use
AUTO REPAIR, GARAGE
$9,215,000
Change: +58% · Conversion: Difficult
MEDICAL BUILDING
$8,915,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,420,000
Change: +45% · Conversion: Easy
RESTAURANT
$7,595,000
Change: +30% · Conversion: Easy
OFFICE BUILDING
$7,530,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$7.88M
Range $7.09M – $8.67M · ±10% · vs last sale $7.90M (May 19 2022)
Last sale anchor
$7.90M
May 19 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
$125 / 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
$107,785
Tax year 2023
Assessed value
$9,012,088
Assessed 2023
Previous assessed
$7,978,027
+13.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$3,401,565
Assessed improvement
$5,610,523
Land market value
$3,401,565
Improvement market value
$5,610,523
Total market value
$9,012,088
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1996
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
63,227 SF
Lot
9.23 ac (402,059 SF)
Zoning code
HB:HIGHWAY BUSINESS
APN
062 048
UPID
US53-1759578
Jurisdiction
ROWAN
Zoning & alternative use
HB:HIGHWAY BUSINESS · Salisbury, NCZoning HB:HIGHWAY BUSINESS · permitted uses
HB:HIGHWAY BUSINESS · Salisbury, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Land Development Ordinance
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$9.2M
MEDICAL BUILDING
Est. value
$8.9M
COMMERCIAL (GENERAL)
Est. value
$8.4M
RESTAURANT
Est. value
$7.6M
OFFICE BUILDING
Est. value
$7.5M
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
1996
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
9.23 ac
Current owner
From public records · entity-resolved
Jean E Bringle
Individual
Free & Clear · 4 yrs held
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2022
—
Jean E Bringle
Jean E Bringle
Intrafamily Transfer
related
—
Jan 25, 2021
—
Suso 4 Alexander LP
—
Deed
related
$168,965,700 · Miscellaneous Ins Co
Jun 2, 2020
$8,060,000
Suso 4 Alexander LP
Alexander Pointe Salisbury LLC
Grant Deed
—
Jan 20, 2016
$9,000,000
Alexander Pointe Salisbury LLC
Ddr-sau Salisbury Alexander Ll
Grant Deed
—
Aug 2, 2006
$7,900,000
Salisbury Alexander Inland-sau
G & W Management INC
Warranty Deed
—
Jul 26, 2006
$7,900,000
Sau Salisbury Alexander Inland
Gw Management INC
Grant Deed
—
—
—
Suso 4 Alexander LP
—
Deed Of Trust
related
$168,965,700 · Miscellaneous Ins Co
—
—
Suso 4 Alexander LP
—
Deed Of Trust
related
$168,965,700 · Miscellaneous Ins 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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