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Property profile & analytics
OFF-MARKET
Estimated value
$2,670,000
Warehouses
1000 Picayune Ln, Wendell, NC 27591
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-1492226
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1995
Construction
METAL FRAME
Total area
9,520 SF
Lot
4.23 ac (184,259 SF)
Zoning code
CMX
APN
1774.02-97-1727 0206709
UPID
US53-1492226
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
$2.94M
Blend (final)
Blend
$2.67M
Owner & transaction history
Jenstar Of North Carolina LLC · 2 yrs held
Jenstar Of North Carolina LLC
since 2024
Last sale
$2.7M
3 recorded transactions
Zoning & alternative use
CMX · Wendell, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.3M
+64.7%
Commercial (general)
$3.2M
+58.6%
Medical building
$3.1M
+54.9%
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 Wendell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wendell 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
WAREHOUSE, STORAGE
$1,995,000
Current use
AUTO REPAIR, GARAGE
$3,290,000
Change: +65% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,165,000
Change: +59% · Conversion: Difficult
MEDICAL BUILDING
$3,095,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$1,910,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$2.67M
Range $2.40M – $2.94M · ±10% · vs last sale $2.74M (Jan 1 2024)
Last sale anchor
$2.74M
Jan 1 2024
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
$280 / 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
$13,766
Tax year 2024
Assessed value
$1,322,375
Assessed 2024
Previous assessed
$1,322,375
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$598,842
Assessed improvement
$723,533
Land market value
$598,842
Improvement market value
$723,533
Total market value
$1,322,375
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
1995
Construction
METAL FRAME
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
9,520 SF
Lot
4.23 ac (184,259 SF)
Zoning code
CMX
APN
1774.02-97-1727 0206709
UPID
US53-1492226
Jurisdiction
WAKE
Zoning & alternative use
CMX · Wendell, NC
Zoning CMX · permitted uses
CMX · Wendell, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wendell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$3.3M
COMMERCIAL (GENERAL)
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.1M
OFFICE BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
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
1995
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Lot
4.23 ac
Current owner
From public records · entity-resolved
Jenstar Of North Carolina LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 1400, VOORHEES, NJ 08043-7400
Ownership since
2024
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
Apr 1, 2024
$4,530,000
Jenstar Of North Carolina LLC
Picayune Lane LLC
Special Warranty Deed
—
Apr 22, 2021
—
Picayune Lane LLC
William J Thornton
Warranty Deed
—
—
—
William J Thornton
—
Deed Of Trust
related
$690,000 · First Citizens Bank & Trust Co
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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