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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Strip malls
Connelly Spgs Rd Lenoir, NC 28645
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-3837234
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Construction
WOOD
Total area
8,120 SF
Lot
1.23 ac (53,579 SF)
APN
11 22 2 23
UPID
US53-3837234
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
by Request
Blend (final)
Blend
$710k
Owner & transaction history
Lewis-moore LLC · 7 yrs held
Lewis-moore LLC
since 2019
1 recorded transaction
Zoning & alternative use
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 Lenoir submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lenoir 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
APARTMENT HOUSE (5+ UNITS)
$1,160,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$840,000
Change: 0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$700,000
Change: 0% · Conversion: Easy
RESTAURANT
$675,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$670,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$565,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$87 / 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
Property tax & assessments
Assessed value
$302,300
Assessed 2024
Previous assessed
$302,300
+0.0% YoY
Assessed land
$68,600
Assessed improvement
$233,700
Land market value
$68,600
Improvement market value
$233,700
Total market value
$302,300
Applied tax rate
11.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
1
Stories
1
Units
2
Bathrooms
10
Total area
8,120 SF
Lot
1.23 ac (53,579 SF)
APN
11 22 2 23
UPID
US53-3837234
Jurisdiction
CALDWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$700,000
RESTAURANT
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$670,000
MEDICAL BUILDING
Est. value
$605,000
RETAIL STORES
Est. value
$565,000
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1987
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
1
Units
2
Bathrooms
10
Lot
1.23 ac
Current owner
From public records · entity-resolved
Lewis-moore LLC
Entity
Mailing address
5691 LONG BAY DR, GRANITE FALLS, NC 28630-8822
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2019
$310,000
Lewis-moore LLC
Hall,roy & Carolyn D
Warranty Deed
$248,000 · Carolina Tr Bk
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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