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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Office buildings
940 Tate Blvd Se Ste 101 Hickory, NC 28602-4037
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US53-0552189
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
18,973 SF
Lot
2.14 ac (93,218 SF)
Zoning code
C-2
APN
3712-05-18-4373
UPID
US53-0552189
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
$1.02M
Blend (final)
Blend
$955k
Owner & transaction history
Mayberry Partners LLC · 15 yrs held
Mayberry Partners LLC
since 2011
6 recorded transactions
Zoning & alternative use
C-2 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C-2 district is intended to establish suitable development standards for the provision of convenience goods, shopper goods and services at locations along major transportation routes that serve both local and pass through traffic.
Zone name
General Business
General category
COMMERCIAL
Zone area
780.55 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 Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hickory 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
COMMERCIAL (GENERAL)
$1,505,000
Change: -9% · Conversion: Easy
RETAIL STORES
$1,505,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$50 / 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
$9,733
Tax year 2023
Assessed value
$1,140,400
Assessed 2023
Previous assessed
$1,140,400
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$186,400
Assessed improvement
$954,000
Land market value
$186,400
Improvement market value
$954,000
Total market value
$1,140,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Total area
18,973 SF
Lot
2.14 ac (93,218 SF)
Zoning code
C-2
APN
3712-05-18-4373
UPID
US53-0552189
Jurisdiction
CATAWBA
Zoning & alternative use
C-2 · Hickory, NCZoning C-2 · permitted uses
C-2 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C-2 district is intended to establish suitable development standards for the provision of convenience goods, shopper goods and services at locations along major transportation routes that serve both local and pass through traffic.
Zone name
General Business
General category
COMMERCIAL
Zone area
780.55 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
RETAIL STORES
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
1988
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Lot
2.14 ac
Current owner
From public records · entity-resolved
Mayberry Partners LLC
Entity
Mailing address
107 FAYETTEVILLE ST STE #400, RALEIGH, NC 27601-2916
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2016
—
Mayberry Partners LLC
—
Deed
related
$1,600,000 · First Community Bank
Nov 9, 2012
—
Mayberry Partners LLC
—
Deed Of Trust
related
$1,870,000 · Branch Banking & Trust Co
Mar 24, 2011
$2,150,000
Mayberry Partners LLC
Midfirst Bk
Grant Deed
$1,720,000 · Carter Bank & Trust
Mar 9, 2010
$2,580,000
Midfirst Bank
Westover Development Corp
Grant Deed
related
—
—
—
Mayberry Partners LLC
—
Deed Of Trust
related
$500,000 · Branch Bk&tr
—
—
Mayberry Partners LLC
—
Deed Of Trust
related
$300,000 · Carter Bank & Trust
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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