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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Warehouses
111 Commercial Park SW Dr Concord, NC 28027-9014
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-0874209
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,851 SF
Lot
2 ac (87,120 SF)
Zoning code
I-1
APN
5610 70 2743
UPID
US53-0874209
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
-
Car Crazy Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$836k
Blend (final)
Blend
$785k
Owner & transaction history
Modern Real Estate Investors LLC · 3 yrs held
Modern Real Estate Investors LLC
since 2022
Last sale
$850,000
2 recorded transactions
Zoning & alternative use
I-1 · Concord, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$985,000
+40.2%
Retail stores
$905,000
+28.9%
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 Concord submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Concord 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
$710,000
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$705,000
Current use
AUTO REPAIR, GARAGE
$985,000
Change: +40% · Conversion: Easy
RETAIL STORES
$905,000
Change: +29% · Conversion: Moderate
Blend value · Realmo final
$785k
Range $707k – $864k · ±10% · vs last sale $850k (Sep 9 2022)
Last sale anchor
$850k
Sep 9 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
$115 / 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
$8,551
Tax year 2024
Assessed value
$858,570
Assessed 2024
Previous assessed
$599,910
+43.1% YoY
Effective rate
1.00%
On assessed value
Assessed land
$508,300
Assessed improvement
$350,270
Land market value
$508,300
Improvement market value
$350,270
Total market value
$858,570
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
3
Total area
6,851 SF
Lot
2 ac (87,120 SF)
Zoning code
I-1
APN
5610 70 2743
UPID
US53-0874209
Jurisdiction
CABARRUS
Zoning & alternative use
I-1 · Concord, NC
Zoning I-1 · permitted uses
I-1 · Concord, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Concord. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$705,000
AUTO REPAIR, GARAGE
Est. value
$985,000
RETAIL STORES
Est. value
$905,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
3
Lot
2 ac
Current owner
From public records · entity-resolved
Modern Real Estate Investors LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1770, CLEMMONS, NC 27012-1770
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2022
$850,000
Modern Real Estate Investors LLC
Keith A Irwin
Special Warranty Deed
—
May 11, 2009
$500,000
Keith A Irwin
Wood Creations INC
Warranty Deed
$500,000 · Wood Creations INC
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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