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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Medical Office Space
929 2nd St Albemarle, NC 28001-3363
Entity Owned
Free & Clear
Property ID
US53-1312059
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
20,008 SF
Lot
3 ac (130,680 SF)
Zoning code
NBD
APN
654801392711
UPID
US53-1312059
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
-
Southeast Pain and Spine Care - Stanly Physician
-
Southeast Pain and Spine Care - Raza A. Khan, MD Physician
-
Kenneth Shank, DO Physician
-
Atrium Health Sleep Medicine Albemarle Medical Clinic
-
Christopher Sutton Poor Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.65M
Owner & transaction history
STANLY MEMORIAL HOSPITAL INC
STANLY MEMORIAL HOSPITAL INC
Zoning & alternative use
NBD · Albemarle, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+39.6%
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 Albemarle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albemarle 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,825,000
Current use
COMMERCIAL (GENERAL)
$2,550,000
Change: +40% · Conversion: Easy
RESTAURANT
$1,790,000
Change: -2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,765,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±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
$82 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$57,430
Tax year 2024
Assessed value
$4,707,402
Assessed 2024
Previous assessed
$4,707,402
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$140,905
Assessed improvement
$4,566,497
Land market value
$140,905
Improvement market value
$4,566,497
Total market value
$4,707,402
Applied tax rate
500.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Heating
NONE
Cooling
YES
Buildings
2
Stories
2
Bathrooms
17
Total area
20,008 SF
Lot
3 ac (130,680 SF)
Zoning code
NBD
APN
654801392711
UPID
US53-1312059
Jurisdiction
STANLY
Zoning & alternative use
NBD · Albemarle, NC
Zoning NBD · permitted uses
NBD · Albemarle, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albemarle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RESTAURANT
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1998
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Bathrooms
17
Lot
3 ac
Current owner
From public records · entity-resolved
STANLY MEMORIAL HOSPITAL INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 36022, CHARLOTTE, NC 28236-6022
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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