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Property profile & analytics
OFF-MARKET
Warehouses
104 1st E St Conover, NC 28613-2102
Individually Owned
24-yr Hold
Free & Clear
Property ID
US53-1082679
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1928
Total area
1,885 SF
Lot
0.12 ac (5,227 SF)
Zoning code
B-3
APN
3741-05-19-4350
UPID
US53-1082679
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
by Request
Owner & transaction history
L J Whitmire III · 24 yrs held
L J Whitmire III
since 2001
1 recorded transaction
Zoning & alternative use
B-3 · Conover, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is the central shopping area of the city and functions as the historic main commercial area. It is established for those uses which normally require a central location and which provide merchandise and services to be used by the entire city and its environs. It is intended that this district shall develop and be maintained with a strong focus o…
Zone name
Central Business
General category
COMMERCIAL
Zone area
32.33 ac
Source
Realmo
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 Conover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conover 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2016Property tax & assessments
Tax year 2016
Tax billed
$400
Tax year 2016
Assessed value
$28,700
Assessed 2023
Previous assessed
$28,700
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$28,700
Land market value
$28,700
Total market value
$28,700
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
1928
Heating
NONE
Stories
1
Units
1
Total area
1,885 SF
Lot
0.12 ac (5,227 SF)
Zoning code
B-3
APN
3741-05-19-4350
UPID
US53-1082679
Jurisdiction
CATAWBA
Zoning & alternative use
B-3 · Conover, NCZoning B-3 · permitted uses
B-3 · Conover, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is the central shopping area of the city and functions as the historic main commercial area. It is established for those uses which normally require a central location and which provide merchandise and services to be used by the entire city and its environs. It is intended that this district shall develop and be maintained with a strong focus on pedestrian connectivity throughout the area and incorporating quality urban design in new construction and renovations by placing buildings close to the public sidewalk area and providing architectural elements to the building faade(s) such as large storefront windows and doors to welcome patrons and create a sense of place.
Zone name
Central Business
General category
COMMERCIAL
Zone area
32.33 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1928
Heating
NONE
Stories
1
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
L J Whitmire III
Individual
Free & Clear · 24 yrs held
Mailing address
PO BOX 549, CONOVER, NC 28613-0549
Ownership since
2001
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
Dec 1, 2001
—
L J Whitmire III
Owner Name Unavailable
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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