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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Warehouses
1007 Lexington Ave Salisbury, NC 28144-3668
Entity Owned
6-yr Hold
Free & Clear
Property ID
US53-3315484
Property summary
AI-generated overview
This exceptional 96,000-square-foot industrial property, located at 1007 Lexington Ave, Salisbury, NC 28144, presents a significant opportunity. The single-tenant building, constructed in 1920, boasts a Class C rating and features a 13'9" ceiling height. The property includes four loading docks and two drive-in doors, ensuring efficient material handling. Currently, 25,000 square feet is available. Utilities are provided by Duke Energy and Piedmont Natural Gas. The building is situated on E. Steele Street and zoned L1, offering convenient access to I-85, placing it strategically between Charlotte and Greensboro, NC, within the Charlotte Metro submarket cluster of Rowan County. The property's size and features make it ideal for various manufacturing, warehouse, and distribution operations. This location benefits from being in one of the fastest-growing regions of the Southeast. The property is comprised of one single-story building.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1920
Total area
96,558 SF
Lot
3.66 ac (159,430 SF)
APN
011 376
UPID
US53-3315484
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
-
Furnish My Place, LLC - LVP and Carpet Manufacturer Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$1.41M
Owner & transaction history
Lexington Property LLC · 6 yrs held
Lexington Property LLC
since 2019
3 recorded transactions
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 Salisbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salisbury 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
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±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
$15 / 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
$2,837
Tax year 2023
Assessed value
$237,194
Assessed 2023
Previous assessed
$230,459
+2.9% YoY
Effective rate
1.20%
On assessed value
Assessed land
$118,950
Assessed improvement
$118,244
Land market value
$118,950
Improvement market value
$118,244
Total market value
$237,194
Applied tax rate
101.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1920
Heating
NONE
Stories
1
Total area
96,558 SF
Lot
3.66 ac (159,430 SF)
APN
011 376
UPID
US53-3315484
Jurisdiction
ROWAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
1
Lot
3.66 ac
Current owner
From public records · entity-resolved
Lexington Property LLC
Entity
Free & Clear · 6 yrs held
Mailing address
20311 CHARTWELL CTR DR UNIT #1215, CORNELIUS, NC 28031-5327
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2019
—
Lexington Property LLC
Abedi E & C L/tr
Grant Deed
—
Dec 21, 2018
—
Abedi,elizabeth & Chelsea L Trust
Liberty Building & Dev INC
Grant Deed
—
Aug 31, 2006
$288,000
Lee,michael & Shannon 2005 Trust
Parkdale Mills INC
Warranty Deed
—
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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