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Property profile & analytics
OFF-MARKET
Garden apartment buildings
9 Hillcrest Cir Lexington, NC 27292-2377
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US53-5776824
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1938
Construction
FRAME
Total area
12,528 SF
Lot
0.34 ac (14,850 SF)
Zoning code
TN
APN
11-051-0-00A-0004
UPID
US53-5776824
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Grimes Holdings INC · 19 yrs held
Grimes Holdings INC
since 2006
3 recorded transactions
Zoning & alternative use
TN · Lexington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the Traditional Neighborhood District is to accommodate existing medium to high density residential neighborhoods and provide opportunities for new single and multi family residential, allowing a range of housing types with density based on site characteristics and compatibility with surrounding uses, while permitting a limited number of suppor…
Zone name
Traditional Neighborhood
General category
RESIDENTIAL
Zone area
3,604.22 ac
Source
Realmo
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 Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,478
Tax year 2023
Assessed value
$189,180
Assessed 2023
Previous assessed
$189,180
+0.0% YoY
Effective rate
1.31%
On assessed value
Land market value
$16,000
Improvement market value
$173,180
Total market value
$189,180
Applied tax rate
11.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1938
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
2
Units
8
Bathrooms
4
Total area
12,528 SF
Lot
0.34 ac (14,850 SF)
Zoning code
TN
APN
11-051-0-00A-0004
UPID
US53-5776824
Jurisdiction
DAVIDSON
Zoning & alternative use
TN · Lexington, NCZoning TN · permitted uses
TN · Lexington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the Traditional Neighborhood District is to accommodate existing medium to high density residential neighborhoods and provide opportunities for new single and multi family residential, allowing a range of housing types with density based on site characteristics and compatibility with surrounding uses, while permitting a limited number of support uses and low impact non residential uses.
Zone name
Traditional Neighborhood
General category
RESIDENTIAL
Zone area
3,604.22 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1938
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
8
Bathrooms
4
Lot
0.34 ac
Current owner
From public records · entity-resolved
Grimes Holdings INC
Entity
Mailing address
49 S TALBERT BLVD, LEXINGTON, NC 27292-4025
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2006
$175,000
Grimes Holdings INC
Byerly Shoaf & Co LLC
Warranty Deed
$148,750 · Branch Banking And Trust Co
Jul 26, 2006
$104,500
Owner Name Unavailable
Owner Name Unavailable
Warranty Deed
related
—
Jul 24, 2006
$104,500
Byerly Shoaf & Co LLC
Best Realty & Insurance
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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