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Property profile & analytics
FOR LEASE
Warehouses
10855 Bailey Rd Cornelius, NC 28031
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-3522081
For Lease
1 / 3
$3,385,000
10855 Bailey Rd, Cornelius, NC 28031
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Total area
193,689 SF
Lot
17.88 ac (778,722 SF)
Zoning code
IC
APN
539101
UPID
US53-3522081
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
$3.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.39M
Owner & transaction history
North Commerce Center LLC · 4 yrs held
North Commerce Center LLC
since 2022
Last sale
$3.2M
4 recorded transactions
Zoning & alternative use
IC · Cornelius, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Industrial Campus districts are coded to permit the development of light industries. Such developments are typically too large in scale to fit within a neighborhood environment and should be buffered from surrounding neighborhood uses.
Zone name
Industrial Campus
General category
INDUSTRIAL
Zone area
361.56 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 Cornelius submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cornelius 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
$3,255,000
ML approach
$3,780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.39M
Range $3.05M – $3.72M · ±10% · vs last sale $3.25M (Jan 31 2022)
Last sale anchor
$3.25M
Jan 31 2022
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
$17 / 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
$126,354
Tax year 2023
Assessed value
$19,553,400
Assessed 2024
Previous assessed
$3,179,200
+515.0% YoY
Effective rate
0.65%
On assessed value
Assessed land
$3,179,200
Assessed improvement
$16,374,200
Land market value
$3,179,200
Improvement market value
$16,374,200
Total market value
$19,553,400
Applied tax rate
2.0000
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
For Lease
Year built
1996
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
193,689 SF
Lot
17.88 ac (778,722 SF)
Zoning code
IC
APN
539101
UPID
US53-3522081
Jurisdiction
MECKLENBURG
Zoning & alternative use
IC · Cornelius, NCZoning IC · permitted uses
IC · Cornelius, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Industrial Campus districts are coded to permit the development of light industries. Such developments are typically too large in scale to fit within a neighborhood environment and should be buffered from surrounding neighborhood uses.
Zone name
Industrial Campus
General category
INDUSTRIAL
Zone area
361.56 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
17.88 ac
Current owner
From public records · entity-resolved
North Commerce Center LLC
Entity
Free & Clear · 4 yrs held
Mailing address
4525 SHARON RD STE #250, CHARLOTTE, NC 28211-3597
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2022
$3,248,000
North Commerce Center LLC
Ncc Bailey Road LLC
Special Warranty Deed
—
Nov 16, 2021
$3,200,000
Ncc Bailey Road LLC
10855 Bailey LLC
Special Warranty Deed
—
Mar 22, 2021
$500,000
10855 Bailey LLC
Environmental Liability Transfer In
Special Warranty Deed
—
Nov 1, 2006
—
Environmental Liability Transf
Reeves Brothers INC
Grant 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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