Back to Search
Property profile & analytics
OFF-MARKET
Turn key restaurants
924 Conover W Blvd Conover, NC 28613-9603
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-0703784
Property summary
AI-generated overview
This exceptional investment opportunity presents a 4,800-5,000 square foot freestanding building situated on a 55,000-56,000 square foot lot at 924 Conover Blvd W, Conover, NC 28613. Currently operating as a 100% occupied QSR/Fast Food restaurant, this Class B property offers significant repurposing potential for savvy investors. Built in 1972, the single-story building features ample parking with 75 spaces to accommodate customers. The property boasts a highly visible location on Conover Blvd W, off Hwy 321 Business route, benefiting from a strong daily vehicle count of 20,500. The property is zoned B4 and offers a single tenancy. This is an owner-user investment opportunity with a Net Net Net (NNN) lease type. The current tenant, O'Reilly Auto Parts, has no credit rating. The property's location and high traffic volume make it an ideal candidate for a variety of retail uses. Serious inquiries only
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1972
Construction
WOOD
Total area
4,869 SF
Lot
1.29 ac (56,192 SF)
Zoning code
B-4
APN
3731-10-45-6646
UPID
US53-0703784
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
-
PALERMO's FAMILY ITALIAN & GREEK RESTAURANT CONOVER, NC Restaurant
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
Bakatsias Rental Properties LLC · 3 yrs held
Bakatsias Rental Properties LLC
since 2022
Last sale
$415,000
3 recorded transactions
Zoning & alternative use
B-4 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
$3,560
Tax year 2023
Assessed value
$448,600
Assessed 2023
Previous assessed
$448,600
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$142,600
Assessed improvement
$306,000
Land market value
$142,600
Improvement market value
$306,000
Total market value
$448,600
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
4,869 SF
Lot
1.29 ac (56,192 SF)
Zoning code
B-4
APN
3731-10-45-6646
UPID
US53-0703784
Jurisdiction
CATAWBA
Zoning & alternative use
B-4 · Conover, NC
Zoning B-4 · permitted uses
B-4 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conover. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1972
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Bakatsias Rental Properties LLC
Entity
Mailing address
204 MDW STRM DR W, MOUNT HOLLY, NC 28120-9611
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2022
—
Bakatsias Rental Properties LLC
Vasileios Bakatsias
Intrafamily Transfer
related
$300,000 · Hometrust Bank
Aug 15, 2012
—
Vasileios Bakatsias
Bakatsias,vasileios
Quit Claim Deed
related
—
Apr 29, 2010
$415,000
Vasileios Bakatsias
Dragon Palace INC
Grant Deed
$335,000 · Dragon Palace INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 924 Conover W Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
