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Property profile & analytics
OFF-MARKET
Estimated value
$3,070,000
Flex space
112 Progress Pl, Statesville, NC 28677-9138
Entity Owned
32-yr Hold
Free & Clear
Property ID
US53-1818048
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1995
Construction
STEEL FRAME
Total area
48,043 SF
Lot
8 ac (348,480 SF)
Zoning code
HI
APN
4773-12-3522.000
UPID
US53-1818048
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
$3.07M
Owner & transaction history
Bridgford Food Corporation · 32 yrs held
Bridgford Food Corporation
since 1994
1 recorded transaction
Zoning & alternative use
HI · Statesville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.8M
+44.3%
Auto repair, garage
$3.5M
+6.5%
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 Statesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Statesville 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
INDUSTRIAL (GENERAL)
$3,325,000
Current use
OFFICE BUILDING
$4,800,000
Change: +44% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,545,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$2,850,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$3.07M
Range $2.76M – $3.38M · ±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
$64 / 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
$23,204
Tax year 2023
Assessed value
$2,280,300
Assessed 2023
Previous assessed
$2,433,520
-6.3% YoY
Effective rate
1.02%
On assessed value
Assessed land
$224,000
Assessed improvement
$2,056,300
Land market value
$224,000
Improvement market value
$2,056,300
Total market value
$2,280,300
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1995
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
48,043 SF
Lot
8 ac (348,480 SF)
Zoning code
HI
APN
4773-12-3522.000
UPID
US53-1818048
Jurisdiction
IREDELL
Zoning & alternative use
HI · Statesville, NC
Zoning HI · permitted uses
HI · Statesville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Statesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.3M
OFFICE BUILDING
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$2.9M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
8 ac
Current owner
From public records · entity-resolved
Bridgford Food Corporation
Entity
Free & Clear · 32 yrs held
Mailing address
PO BOX 3773, ANAHEIM, CA 92803-3773
Ownership since
1994
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
Jul 1, 1994
—
Bridgford Food Corporation
—
Warranty 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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