Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,505,000
Auto shops
1027 Marvin Lucas Pkwy Spring Lake, NC 28390-3674
Entity Owned
20-yr Hold
Free & Clear
Property ID
US53-2359447
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2009
Total area
8,523 SF
Lot
10 ac (435,600 SF)
Zoning code
M1P
APN
0512-29-0411
UPID
US53-2359447
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
$1.44M
Blend (final)
Blend
$1.51M
Owner & transaction history
Rlm Dev Group LLC · 20 yrs held
Rlm Dev Group LLC
since 2006
6 recorded transactions
Zoning & alternative use
M1P · Spring Lake, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+30.7%
Medical building
$1.4M
+11.9%
Office building
$1.3M
+3.3%
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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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
AUTO REPAIR, GARAGE
$1,290,000
Current use
RESTAURANT
$1,690,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$1,445,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$1,335,000
Change: +3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,125,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.51M
Range $1.35M – $1.66M · ±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
$177 / 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
$63,109
Tax year 2023
Assessed value
$4,050,956
Assessed 2023
Previous assessed
$4,050,956
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$107,646
Assessed improvement
$3,943,310
Land market value
$107,646
Improvement market value
$3,943,310
Total market value
$4,050,956
Applied tax rate
3,000.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2009
Heating
NONE
Buildings
2
Stories
1
Bathrooms
12
Total area
8,523 SF
Lot
10 ac (435,600 SF)
Zoning code
M1P
APN
0512-29-0411
UPID
US53-2359447
Jurisdiction
CUMBERLAND
Zoning & alternative use
M1P · Spring Lake, NC
Zoning M1P · permitted uses
M1P · Spring Lake, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.3M
RESTAURANT
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
AUTO REPAIR, GARAGE Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2009
Heating
NONE
Stories
1
Buildings
2
Bathrooms
12
Lot
10 ac
Current owner
From public records · entity-resolved
Rlm Dev Group LLC
Entity
Free & Clear · 20 yrs held
Mailing address
1027 E MANCHESTER RD, SPRING LAKE, NC 28390-9514
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Dec 22, 2021
—
Rlm Development Group LLC
—
Deed
related
$3,300,000 · Dogwood State Bank
Mar 6, 2017
—
Rlm Dev Group LLC
—
Loan Modification
related
$1,112,380 · Wells Fargo Bk
Nov 7, 2008
—
Rlm Dev Group LLC
—
Trustees Deed
related
$1,105,924 · Wachovia Commercial Mortgage
Jan 26, 2006
—
Rlm Dev Group LLC
Town Of Spring Lake
Grant Deed
related
—
—
—
Rlm Dev Group LLC
—
Deed Of Trust
related
$100,000 · Wachovia Bank NA
—
—
Rlm Dev Group LLC
—
Deed Of Trust
related
$30,000 · Wachovia 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1027 Marvin Lucas Pkwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
