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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Apartment buildings
972 8th NW Ave, Hickory, NC 28601-3420
Entity Owned
Free & Clear
Property ID
US53-2186637
Property summary
AI-generated overview
Stonewall Apartments is a multifamily property consisting of 8 units. The units are spacious, two-story townhome-style units with 2 bedrooms and 1.5 bathrooms. Each unit is equipped with in-unit laundry, private exterior storage on the patio, and individual electric utilities. The property is serviced by city water and sewer. The property is situated on a 0.45-acre lot. The total living area of the property is 7504 square feet and is located in Hickory, North Carolina. The configuration includes an on-site dumpster and grounds maintenance.
Property profile
Verified
Property type
Apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1999
Construction
WOOD
Total area
7,560 SF
Lot
0.45 ac (19,602 SF)
Zoning code
R-3
APN
3703-13-04-3104
UPID
US53-2186637
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
$940k
CAP Approach
CAP
$975k
Comparable Approach
Comparable
$709k
Blend (final)
Blend
$950k
Owner & transaction history
Ilkhanate LLC
Ilkhanate LLC
since 2026
3 recorded transactions
Zoning & alternative use
R-3 · Hickory, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+78.7%
Auto repair, garage
$900,000
+11.7%
Retail stores
$890,000
+10.9%
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
$940,000
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
$1,060,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$805,000
Current use
MEDICAL BUILDING
$1,435,000
Change: +79% · Conversion: Moderate
AUTO REPAIR, GARAGE
$900,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$890,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$875,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$745,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$950k
Range $855k – $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
$126 / 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
$4,980
Tax year 2023
Assessed value
$583,500
Assessed 2023
Previous assessed
$583,500
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$23,500
Assessed improvement
$560,000
Land market value
$23,500
Improvement market value
$560,000
Total market value
$583,500
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
Apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Units
8
Total area
7,560 SF
Lot
0.45 ac (19,602 SF)
Zoning code
R-3
APN
3703-13-04-3104
UPID
US53-2186637
Jurisdiction
CATAWBA
Zoning & alternative use
R-3 · Hickory, NC
Zoning R-3 · permitted uses
R-3 · Hickory, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hickory. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$805,000
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$900,000
RETAIL STORES
Est. value
$890,000
OFFICE BUILDING
Est. value
$875,000
COMMERCIAL (GENERAL)
Est. value
$745,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1999
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
8
Lot
0.45 ac
Current owner
From public records · entity-resolved
Ilkhanate LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2053 KINGS MNR DR, MATTHEWS, NC 28104-6738
Ownership since
2026
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
Jan 8, 2026
—
Ilkhanate LLC
Frank Ross Vitale JR
Warranty Deed
—
Mar 8, 2024
$937,500
Frank Ross Vitale JR
David C Johnson
Warranty Deed
$705,000 · First National Bank Of Pennsylvania
Sep 23, 2022
$699,000
David C Johnson
Ronnie F Craig
Warranty Deed
$400,000 · Us Bank NA
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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