Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    903 3rd NW Ave Hickory, NC 28601-4848

    • Gas stations
    • 1,350 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2024
    $275,000
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1460027
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gas stations

    Property Details for 903 3rd NW Ave

    Year built
    1955
    Construction
    WOOD
    Lot size
    0.40 lot acres
    Property size
    1,350 SF
    Zone code
    C-2
    Property type
    Gas stations
    APN
    3703-17-10-9906
    APU
    370317109906

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $275,000
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $190,000
      Market price range: $147k - $265k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hickory
    County
    Catawba
    State
    North Carolina
    Longitude
    -81.3526
    Latitude
    35.7357
    CBSA code
    25860
    CBSA name
    HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $941
    $50,600
    $59,600
    $110,200
    -
    $50,600
    $59,600
    $110,200

    Comparable in this City

    • Value Estimation
      $240,000
      1,358 SF

      1097 3rd Ave NW Dr

      SERVICE STATION (FULL SERVICE) • 1,358 SF
      1097 3rd Ave NW Dr, Hickory, NC 28601-4854
      View Details
    • Value Estimation
      $265,000
      1,440 SF

      1062 Shiloh Church Rd

      SERVICE STATION (FULL SERVICE) • 1,440 SF
      1062 Shiloh Church Rd, Hickory, NC 28601-8597
      View Details
    • Value Estimation
      $240,000
      1,758 SF

      2048 12th NE Ave

      SERVICE STATION (FULL SERVICE) • 1,758 SF
      2048 12th NE Ave, Hickory, NC 28601-3181
      View Details
    • Value Estimation
      $245,000
      1,320 SF

      90 Hwy E Hwy

      SERVICE STATION (FULL SERVICE) • 1,320 SF
      90 Hwy E Hwy, Hickory, NC 28601
      View Details
    • Value Estimation
      $265,000
      1,769 SF

      1875 12th NE Ave

      SERVICE STATION (FULL SERVICE) • 1,769 SF
      1875 12th NE Ave, Hickory, NC 28601-3184
      View Details
    • Value Estimation
      $265,000
      2,352 SF

      1016 16th NE St

      SERVICE STATION (FULL SERVICE) • 2,352 SF
      1016 16th NE St, Hickory, NC 28601-4237
      View Details

    Similar Nearby for Sale

    • $975,000

      Versatile Commercial Property on Hwy 127

      9,000 SF commercial property with office space and equipment.
      2931 N Center St, Hickory, NC 28601
      View Details
    • $4,736,365
      18,950 SF

      Hickory, NC Net-Leased Medical Office

      7.5% Cap Rate, 7+ Years Remaining, Strong Tenant
      1022 2Nd St, Hickory, NC 28601
      View Details
    • $457,000
      3,500 SF

      Hickory Retail Space - High Potential

      Prime Hickory location, versatile retail space.
      941 3Rd Ave, Hickory, NC 28601
      View Details
    • $999,000
      1.13 Acres

      Hickory, NC Commercial Land Investment

      High-growth area, multiple development parcels.
      2633 Springs Rd, Hickory, NC 28601
      View Details
    • $599,900
      1.77 Acres

      Hickory Commercial Property For Sale

      Commercial property with furniture store, restaurant, and storage building.
      3506 Springs Rd NE, Hickory, NC 28601
      View Details
    • $699,000
      4,436 SF

      Downtown Hickory Office Building

      Value-add office & apartment complex
      118 3Rd Ave, Hickory, NC 28601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Hickory, NC

      Retail spaces available for lease in Hickory's prominent retail area.
      Hickory, NC 28601
      View Details
    • $2,500 /Mo
      28,750 SF

      Hickory Retail Space For Rent

      Versatile retail space on high-traffic Springs Road in Hickory, NC.
      2906 Springs Rd NE, Hickory, NC 28601
      View Details
    • $17 SF/Yr
      1,653 SF

      Retail Space in Hickory

      Retail space in busy NW Hickory shopping district.
      2923 N Center St, Hickory, NC 28601
      View Details
    • $15 SF/Yr
      81,208 SF

      Springs Corner Shopping Center Investment

      Hickory, NC Retail Center - High Visibility
      2515 Springs Rd, Hickory, NC 28601
      View Details
    • Contact for pricing
      1,277 SF

      Regional Shopping Center Retail Space

      Retail spaces available in Hickory's Belle Hollow shopping center.
      2982-3020 N Center St, Hickory, NC 28601
      View Details
    • Contact for pricing
      28,000 SF

      Northgate Plaza Retail Center

      Hickory, NC Retail Space Available
      2511 Center St, Hickory, NC 28601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    903 3rd NW Ave
    Hickory, NC 28601-4848
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.